Money

How to Get a Loan without Collateral & Guarantors

World has seen a rapid growth in the instant loan market. The first instant loan was offered in the year 2005 by a single lender. This number of reputable moneylender Singapore has grown considerably in the past years. The number of lenders in 2013 neared 100. This high number of lending institutions has made the possibility of getting a loan higher. If a person gets rejected by one company, there are a lot more options to try from. As the market gets more competitive, the lenders also introduce new lucrative terms and incentives. One benefit of such increase in number of lenders is that it is now possible to get a loan without collateral or guarantors. The cash loans or the instant loans can be obtained in 24 hours or less when you follow the below steps.

 

Steps To Acquire A Loan

 

Find out a famous money lender in Singapore– the first step in getting a loan is to find a suitable lender. Most of the lenders offer loans that do not require collateral or guarantors. In most of such cases, you would be required to have a steady income job and you should be able to provide a pay slip or bank statement as a proof of income.
Apply for the loan – once you have found a suitable lender, you can apply for the loan. Before applying read more about licensed moneylender .The loan application is usually available online. The form can be completed and submitted online. Another recently popular method is to apply for the loan through SMS. Both the options are time saving and are best suitable in times of emergency. You will need to provide your requirements and occupation and income details when applying for the loan. Confirm the acceptance – after you have submitted a loan application, you will have to wait for a while. The wait can be as less as 15 minutes with some lenders. You will get to know if your loan request is approved or rejected after the wait. If your request is approved, you will be provided with the relevant terms and conditions of the loan that will be applicable to you. You have to confirm that you accept to undertake the loan or vippi from the lender on the given terms and conditions. You should understand the terms carefully before accepting them.  Get the amount credited – if you have an online bank account, the lender will be able to credit the money into your account within 24 hours of the loan approval.