Tag Archives: help

Discover The Advantages Of Personal Loans Singapore And The Simple Terms Required

March 4, 2018   Personal Loan

Unfortunately, the economic downturn of the world has affected nearly everyone, which has led more people to financial strife than ever before. However, most people simply need a small amount of money to help them stay afloat, until they start a new job, get that first paycheck or a variety of other financial assistance that they are waiting on. If this sounds like you, you may want to consider looking into applying for a personal loan. There are innumerable personal loans Singapore that you can apply for and often personal loans are also referred to as unsecured loans. They are referred to as unsecured loans, because they do not require any collateral in order for you to take advantage of bank funding and assistance. In general, personal loans Singapore are used by people to make small purchases order to help with an unexpected expense, such as medical bills, lost wages, credit card payments, school loans and more. These personal loans Singapore help people in those types of situations keep their finances in order.

Personal loans Singapore can help you to meet all of your financial requirements, by taking care of sudden expenses or just helping you out until you get your next paycheck. They are intended for use for short period of time, and are extremely easy to apply for online. To apply for personal loans Singapore online, you must meet eligibility requirements of being either Singaporean, or a permanent resident of Singapore and aged between 21 and 65 years. Then, all you need is to apply online with your NRIC, which is a requirement, and if you have them available, your latest pay stubs are extremely helpful. It is also required that you have gainful employment, making a gross annual income of at least S$21,000, and have been employed by the same company for the last 12 months. You must also present your last 15 months CPF contribution history statement. If you are able to meet these requirements for personal loans Singapore, chances are very good that you will be able to receive the influx of money that you need at the time.

Repaying your personal loans Singapore is extremely easy, and you will have one, low monthly payment to make. This is a very easy and hassle free way to repay your loan, which is an excellent reason to pursue personal loans Singapore over other types of loan funding. In addition, there are varieties of packages available, which are extremely flexible, so these personal loans Singapore will be able to meet your every need. The repayment terms are extremely easy to understand, and are structured, monthly repayments, which is much easier to make and budget for. Although personal loans Singapore are intended to help those in a financial hardship, it is very important that you take precautions and fully understand the loan statement that you are signing for. It is also vital that you strongly consider the potential repercussions of taking a personal loan Singapore, not just the advantages, and be sure to understand all of the terms and conditions of the personal loans Singapore, so that you are fully aware and protected.

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Guaranteed Loans After Bankruptcy

March 3, 2018   Loan Tips

Guaranteed loans are really made for people with past credit problems, like those who have just gone through bankruptcy, but for this very reason it’s generally a good idea to consider other options first.

See, because this option is targeted at people with bad financial histories, they know that you have few options and will accept any interest rate or fee that they throw at you when you need a loan. You may decide that these rates are worth it because you need cash now, and making the payments over time will actually help you rebuild your credit, and that may be true.

However, I suggest you carefully consider some other options first. You may need cash now and not have any kind of collateral to offer, in which case a guaranteed option may be your only choice, but in terms of your long term financial stability it’s better to avoid this. While repaying a loan will help build up your credit, a guaranteed option with it’s high interest rates, and often times hidden fees, will hurt your wallet and possibly get you into financial problems.

One great option if you have something of value like jewelry, vehicle, or real estate is to use this as collateral on a loan to get yourself a deal with a more traditional lender, and get yourself a better interest rate. This will save you money and help you avoid future problems.

If collateral isn’t an option for you, try and work on your credit in other ways for about a year after you’ve discharged your debts before applying for a small unsecured loan. You can do this by making payments on time on all your bills, and by getting a secured credit card at your bank.

Of course, this option doesn’t help you much if you need cash now. If you need money now, and you don’t have any form of collateral, you’ll probably want to look into guaranteed loans. Be sure to shop around, I generally recommend looking at five different lenders offers before signing on for anything. Look over the terms and conditions carefully–if you don’t understand something, ask–as this is the only way to find a deal without fees that you are unwilling, or unable, to pay.

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