Payday Loan Singapore

Q: Where is the best place to borrow money urgently?

Quick Loan, a licensed moneylender , can offer you a payday loan, also known as a cash advance loan, within 20 minutes. A payday loan allows you to borrow money to cover any urgent expenses until you receive your next salary. Payday loan applicants must be 18 years of age or older, employed with a minimum income of $1,800. Singaporeans, PR and foriegners are welcomed to apply.

Our payday loan in Singapore addresses short-term needs or unexpected expenses, bridging the financial gap until your next paycheck.

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Documents We’ll Need

Singaporeans/PR

Singaporeans or PRs need to present the following:

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Foreigners need to present the following:

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FAQ About Payday Loan

What is a payday loan?

A payday loan in Singapore is a short term loan to provide you with cash until your next payday. These loans are intended to tide you over for a brief period, where your next paycheck will be used to pay off this loan. The repayment usually comes in the full loan amount, and a reasonable interest rate for the short loan term.

Such a loan can come in handy when you have unforeseen expenses but don’t have enough cash till you get your paycheck later in the month. This includes urgent medical bills, unexpected car repairs, or other unplanned expenses that might arise, which require immediate settlement. A payday loan can also be a convenient solution when you require fast access to money without undergoing a lengthy approval process.

Interest will be calculated based on the number of days remaining until your next payday. At Quick Loan, you can apply for a payday loan in Singapore through a quick and easy online process, through WhatsApp or by visiting our office.

Where is the best place to borrow money urgently?

Quick Loan, a licensed moneylender, can offer you a payday loan, also known as a cash advance loan, within 20 minutes.

A payday loan allows you to borrow money to cover any urgent expenses until you receive your next salary.

Payday loan applicants must be 18 years of age or older, employed with a minimum income of $1,800. Singaporeans, PR and foriegners are welcomed to apply.

Can I make prepayments on my payday loan, and are there any penalties?

Yes, you can make prepayments on your payday loan without any form of penalties. Please feel free to reach out to our team once you are ready to do so, and we will assist in making the necessary arrangements.

Will I get my payday loan approved on the same day?

Yes! You can get your payday loan approved on the same day at Quick Loan.

We offer a range of quick loans where you can get your cash in 20 minutes. This means you can receive your funds on the same day you place your loan application.

Our fast and hassle-free application process makes us a reliable choice if you need to access funds urgently.

You can apply for a payday loan online, through WhatsApp or by visiting our office. We’ll invite you to a free consultation at our office, where you’ll provide us with all the necessary documents.

Once your loan is approved, you may sign the agreement and receive your cash on the spot.

Will a payday loan appear on my credit report?

A payday loan with a licensed moneylender will not appear on your CBS credit report, which is commonly used by banks in Singapore. However, a payday loan might appear in credit reports from other agencies.

The good news is that a payday loan is typically smaller in value, so you can clear it with your paycheck through a single lump-sum repayment. This means you’ll ideally not have to commit to a long-term payment schedule that would have an impact on your credit history.

We advise you to commit to timely repayments of any loan you take to ensure a good credit score. You can take advantage of the low interest rates and flexible plans available at Quick Loan, which are designed to keep your instalments affordable.

Get in touch with us to learn more about how payday loans work.

When should I consider applying for a payday loan?

You may wish to apply for a payday loan when you need to quickly settle unexpected and sudden expenses, such as medical costs, legal fees, or emergency repairs of your home or vehicle.

Similarly, a payday loan can help to mitigate urgent cash flow issues and provide the capital you need to pay off certain bills such as overdue credit card bills that may incur high interest rates or hefty late payment fees.

At Quick Loan, our payday loans are approved within 20 minutes, with minimal eligibility requirements, to help you address urgent situations that require money in a short time.

I already have existing loans. Can I still apply for a payday loan in Singapore?

Yes, you can still apply for a payday loan with us at Quick Loan.

As a promise to all our customers, we will try to help any interested borrowers to the best of our abilities, and ensure that we reach a mutually beneficially loan package between us and you, with your current situation in mind.

What happens if I miss my repayment for my payday loan?

If you are unable to pay your monthly installments in full, please contact us before your due date and our loan officers will let you know the minimum amount to pay for your loan.

After you have paid the minimum amount, we will be able to defer your loan repayment to next month.

However, kindly note that not paying your monthly installments in full will incur late fee and late interest charges.

Do I need to provide collateral or a guarantor for a payday loan in Singapore?

No, there is no need for collateral or a guarantor when you take a payday loan in Singapore with Quick Loan. We aim to make the application process as quick and fuss-free as possible, to ensure that our potential applicants are able to receive their much needed funds immediately.

Taking a loan with Quick Loan only takes 30 minutes!