How to Apply for an Instant Personal Loan in Singapore

How to Apply for an Instant Personal Loan in Singapore

There are many banks and online lenders who provide an instant personal loan in Singapore. You can easily apply for these loans and get instant loans. If you are in urgent need of money, you can use this type of loan.

You can also apply for an Instant business loan if you need urgent money for the business. The application process is quite easy. You don’t have to go to the bank to apply for the loan. As it is an instant loan, you can directly apply for it from the web.

Many reputed banks have started providing this service. If you already have an account or credit card with the bank, the application process becomes easier. Some banks transfer the loan amount in their account only. So if you don’t have an account with them, you need to open it.

But other banks directly transfer the loan amount in any bank account of your choice. It is more feasible because you don’t have to open a new account to get the loan.

Instant personal loans have become quite popular in times like coronavirus. More and more people are using these types of loans to meet the emergency cash requirements.

Popular Instant Loan Options in Singapore:

Many popular banks are offering instant personal loans. After banks, there are private online money lenders who provide this loan.

  • POSB Instant Personal Loan:

POSB bank provides instant personal loans to the customers. To get this personal loan, you need to use the digibank app. You also need to be an existing customer of the bank. If you fulfill these criteria, you can easily apply for this loan. All your information is already ready with the bank. They already fill up your form as that you can take the loan anytime you want. All you need to do is check the amount and apply for it. The application process is instant. After that, you will get the money in minutes. You need a credit card from this bank to get this loan.

  • CashOneInstant Personal Loan:

This loan is given by Standard Charted bank. You can easily apply for this loan online. The application process is simple and easy. If you get the approval, you will get the money in just 15 minutes. The interest rate of this loan is also very less. You can also enjoy cashback along with it.

  • OCBC Extra Cash Loan:

This instant personal loan is given by OCBC bank. You can apply for this instant loan if you are an existing customer. You can get up to 6X monthly salary with this loan. If you want to avoid filling all the details, you can use MyInfo. This way, you will get a prefilled form. The approval is instant. You have a choice in the tenure. You can choose from 1 to 5 years.

  • Credit Culture Instant Personal Loan:

It is not a bank but an online platform that provides the loan. You can get personal loans for various purposes. You can get loans up to $50,000. It is a FinTech company. They provide instant loans. Everything is done digitally. You just have to follow few simple steps to apply for instant personal loans. They provide affordable interest rates. It is very convenient, safe, and secure. You have to register and apply for the loan. They will do the verification. After that, you will receive the money.

How to Apply for Instant Personal Loan in Singapore?

There is no need to visit the bank to get this loan; you can directly apply for this loan from your phone. Follow these steps to apply for this loan.

  • Step 1: Compare Bank/ Money Lenders

The first thing you need to do is compare all the banks’ instant loans and money lenders to choose the best one. Compare all the other details with the lender like documentation, loan amount, interest rates, security, processing fees, other charges, tenure, EMI, etc. Compare all the factors to choose an ideal lender. You have to focus on this step because it is essential. Check with all the lenders and banks and go with the best one.

  • Step 2: Select a Loan Provider

After comparing all the loan providers, you need to choose the best one. It will help you to get the best instant personal loan in Singapore. Make sure the loan provider delivers a loan in a quick time.

  • Step 3: Apply Online

To apply for the long online, you have to visit the website of the online lender’s ban. So go to the website and check all the necessary details about applying for an instant personal loan. Check everything useful. You can check the documents they need. Check the services they offer. Read the term and condition before you apply for the loan. You will get all the basic details there.

  • Step 4: Register

Now, you need to register to create your account. You have to enter all the details to create your account. This step is crucial. You cannot move ahead without this step. You can only apply for the loan once you register your account. You have to enter all the personal details to register.

  • Step 5: Apply

Now, you need to apply for an instant personal loan. You can check the eligibility to know if you are eligible. You have to enter the loan amount and all the other things. You have to fill up the application form online.

  • Step 6: Documents

In this step, you have to submit a scanned copy of all the documents they require. They will mostly ask for your come statement, ID proof, Address Proof, and other important documents for personal use.

  • Step 7: Verify

Now, you have to wait for the verification, once you apply for the loan. After the verification process is complete, you will get the money.

  • Step 8: Receive Money

After verification, you will get instant funds in your account. If you are going with the bank, you will get the find in your bank account. If you are going with a private lender, you can ask them to transfer the fund in the account you use.

This is how you can apply for an instant personal loan in Singapore. You can also check the process on the website.