Money related issues can occur any time and to anyone. It does not see that whether you are capable of meeting finances or if you are rich lad. It can occur to anyone, anytime. We know that it is easy to get loans when you have a stable job or when you have some sort of financial security. The real challenge is when you do not have a source of income and yet you have to get a loan. This simply means you do not have any pay slip to show that could prove that you can repay the loan, most importantly, in Singapore. But for that it is crucial that you are in contact with the reliable financial institution.
Having no back in terms of income can be really troublesome, but if you are in some serious need of money, then nothing seems like a better idea. In such a situation, getting a loan from a bank is not possible, but you can get a loan from some other source as there are some lenders who offer you borrowing on this basis. If you meet the lender’s rules, then they straightforwardly provide you with the amount. They do not ask you for you any credit history, but they want you to pay interest and fees. On the other hand, when you have a job already, then you can get this loan without any hassle.
What could be the other loan options when you do not have pay slip?
If you do not have any income source, then you can apply for borrowing money by showing your income tax statements.
Another option is that you can get loan money by showing any asset like a car or jewelry and their value. The worth and condition of the asset assessed the sum of credit that any lender can offer you. If you are unable to pay the debt, then the lender will be allowed to keep your assets or as they call, forfeit them.
For the short term, availing such cash is the best option and they are secured for a short term too.
A company called Fast Money is presenting with the loan on a quick basis. They are licensed and legal money lenders in Singapore. Not only that it is for the local residents, but for foreigners as well. Although, this company requires you to be in full time employment or at least submit your income tax statement. The client can apply online without any service fees; the representative calls you themselves and guides you as per your query.
The alternative of collateral submission sounds suitable for those who do not have any employment currently. There is a need to be ensured about lender’s credibility and get done with all the paperwork that they have everything properly in written so that if you have paid back fully, there will be no chance of fraud. Likewise, for the lender, when they get everything in writing, they can trust the borrower easily.