Looking for Fast & Easy Loan in Singapore? What Are Your Best Options?

SINGAPORE - Aug. 24, 2017 - PRLog -- With the rise in the number of financial institutes in Singapore, obtaining fast and easy loans is not as difficult feat as it used to be. There are various financial institutes in the country, which are offering personal loan packages and foreigner loans. However, despite the process of obtaining loans made easier, many people are still confused on deciding between the banks and licensed money lender when it comes to getting a fast loan in Singapore.

Obtaining fast loans in Singapore from banks can prove to be a little daunting as compared to the licensed money lenders. There are certain formalities to be completed before you could even apply for such a loan. Moreover, they also require the individual applying for loans to have a certain income level. If the individual is earning below that particular level, they are disqualified from obtaining the loan. The whole process can prove to be very time-consuming for them. This is where the licensed money lenders like Pit-Stop Credit come into the picture. They are offering easy and fast loans Singapore, which an individual, who wants a loan in form of quick cash, can obtain without going through the hassles of obtaining loans from banks. A reliable licensed money lender like Pit-Stop Credit in Singapore can help you to get your loan approved in as low as half an hour if you provide them with all the necessary documents.

The biggest benefit of using their licensed money lending service is that they will not be much bothered about your credit history. If you have made late payments in the past or have low credit ratings, there is a high chance of your bank rejecting your loan application outright. However, the licensed money lenders are not much bothered about your credit score. The main reason is that they are dealing with loans with small amounts; hence, there is a low element of risk.

Pit-Stop Credit - http://pitstopcredit.com.sg - as with many licensed money lenders, offers a range of loans such as payday loans, personal loans, business loans etc. to Singaporeans & permanent residents. Even if you are a foreigner, so long as you are working in Singapore they are able to help you with your urgent cash needs with their foreigner loan. Service rendered is usually pleasant and professional, and customized loans can be come up to cater to unique financial needs.

The drawback, if you ask, for opting for licensed money lenders in place of banks for obtaining quick and fast loans in Singapore is the higher interest rates. The interest rate is almost double when compared to the bank. Despite the interest rate, lending money from licensed money lenders can prove to be a better option for quick cash if you look into the bigger picture. Banks, under normal circumstances, will take about 2 working days for getting your approved your loan. However, with a licensed money lender, as discussed above, you can get your loan approved within 30 minutes.

Those individuals, who have gone bankrupt in the past, can also take the assistance of Pit-Stop Credit for obtaining reliably quick loans. A letter of discharge will be enough for them to get the loan approved from a licensed money lender. However, a bank will certainly not approve the loan for them until 5 to 7 years have passed after the letter of issuance.