Payday Loan Singapore
Bring Your Income Forward
Secure Your Payday Loan Online
Through Singapore’s Best Money Lender Today
or
Speed up your application with MyInfo
Have your personal details filled in automatically.
This also helps us to approve your loan more quickly!
What is a Payday Loan?
A payday loan is a type of short-term financial solution designed to address the immediate cash needs of individuals until their next payday. The loan amount is typically repaid using the borrower's subsequent paycheck. These loans offer quick approval and immediate access to funds, making them a convenient option for those facing unforeseen financial emergencies.
Payday loans can be used for various purposes, such as covering unexpected medical bills, car repairs, or other urgent expenses. They can also be used to avoid late payment fees or overdraft charges. Furthermore, you can also use payday loans to pay for regular bills, such as rent or utilities, when their paycheck falls short.
Get Urgent Cash Quickly
At Quick Loan, we understand that some expenses require immediate attention. As the best licensed money lender in Singapore, we prioritize your convenience by streamlining the application process and minimizing waiting times. Our efficient procedures enable us to process your loan and disburse funds within 20 minutes of application, ensuring that you have access to cash when you need it the most.
Low Interest
Because the interest for payday loans are charged only over the number of days till your next payday, you can expect to pay a lower amount for interest compared to other loans like personal loans.
30-minute
loan approvals
6X
your monthly salary
No guarantor
required
Cash
disbursed on the spot
Licensed
by Registry of Moneylenders
30-minute loan approvals
6X your montly salary
No guarantor required
Cash disbursed on the spot
Licensed by Registry of Moneylenders
Minimum Criteria
Unlike banks, we’re a licensed moneylender in Singapore with more straightforward requirements:
Minimum age:
18 years old
Minimum salary:
$1,800 for Singaporeans/PRs and foreigners
Singaporeans/PR
NRIC
Singpass
If renting, provide both:
- Your tenancy agreement
- Proof of address such as your phone bill or utility bill
Payslips for the last three months, if available
Bank Token
Foreigners
Foreigners need to present the following:
S Pass / Employment Pass / Work Permit with a minimum 6-month validity
Passport
Residence information in the form of both:
- Phone bill or utility bill
- Tenancy agreement
Payslips for the last three months, if available
Bank Token
Employment contract
Staff card
3 Easy Steps to Applying for a Loan
Free Consultation and Signing of Agreement
Receive Cash
A payday loan is a short-term and unsecured loan which you can use to cover expenses until your next salary or payday.
You will receive a portion of your salary’s value in advance of the actual paycheck. Once your salary has been banked in, you can use it to pay off the loan immediately. This loan is ideal for unexpected or urgent expenses you cannot afford to delay until payday.
Due to how payday loans work, these loans have a much shorter tenure. Accordingly, your 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.
Licensed moneylenders like us can offer you a payday loan, also known as a cash advance loan. This loan lets you borrow money as emergency funds to cover your expenses until you receive your next salary.
All licensed moneylenders in Singapore are subject to the Moneylenders Act and are listed under the Registry of Moneylenders. We adhere to strict regulations on interest rates, fees and other charges.
Payday loan applicants must be 18 years of age or older, with a minimum income of SGD1,800. Singaporean or PR borrowers must present their NRIC, SingPass, residence information, payslips and bank tokens.
Foreign borrowers must provide a valid work permit, Employment Pass or S Pass. We’ll also need your passport, residence information, payslips, bank tokens, employment contract and staff card.
Since a payday loan is intended to be repaid in a lump sum, your interest rate is calculated according to the number of days remaining until your next paycheck.
This means you can look forward to paying a lower interest amount than other loans with longer tenures, such as personal loans.
You may contact our team online to learn more about the interest rates, fees and other charges related to a payday loan. If a payday loan is unsuitable for your current needs, you may consider taking out a quick loan for extra funds.
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 30 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.
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.
Stay savvy with our collection of loan and lifestyle tips.
4 Ways How COVID-19 Has Impacted Businesses & The Economy
The last time the world experienced such a significant economic downturn like the current COVID-19 period was almost a century ago in the 1930s during the Great
5 Home Improvement Projects That Won’t Break The Bank
Home is where the heart is. It is where you desire to be at the end of the day, and where you can feel relaxed
Myths vs Facts About Moneylenders in Singapore
There are many falsehoods regarding legal moneylenders in Singapore. We’ve put together an article to clear things up. Read on to find out! Myths vs
Credit Score Guide Singapore – Everything You Need to Know
Last-Minute Maximum Tax Reliefs for Singaporeans & Foreigners
3 Ways to get a loan for Christmas Shopping 2022
Your Guide to Borrowing From Licensed Money Lenders in Singapore
5 Things You Must Know Before Applying for a Renovation Loan
An Easy Guide to Take Loans From Legal Money Lender in Singapore
Personal Loans Guide Singapore
Emergency Loans Guide Singapore
Reasons Why Your Business Loan Application May Get Rejected
Home Renovation Guide Singapore
In need of money? Here's How You Can Apply for Personal Loans
Does Borrowing Money From A Licensed Moneylender In Singapore Affect Your Credit Score?
Top 5 Ways To Collect More Air Miles With Your Credit Card In Singapore
Your Complete Guide To Payday Loans In Singapore
Myths vs Facts About Moneylenders in Singapore
What Costs to Account For Your HDB BTO February 2022
Banks, Private Moneylenders & More: Where to Borrow Money in Singapore
How To Identify A Legal Money Lender From An Unlicensed One
City Hall Licensed Moneylender
Downtown Licensed Moneylender
Next Steps You Can Take
Considering taking a loan with us?
Here are some recommended next steps.
Apply For A Loan Now
Submit your online application Now.
Contact Us
Reach us immediately via WhatsApp
Apply at Our Office
Simply walk in to apply! No appointments needed.
Get Answers to your Questions
See our answers to common queries.
