A payday loan is a type of short term loan. It is popular in Singapore due to it has fast approval processing, no credit check and no collateral is required to. The
requirements are simple. As long as you are an adult with a regular job, have a stable income and a valid bank account. You can get a loan from the moneylender easily. What is more, the loan is small so that you can pay it back without financial burden.

A payday loan is suitable for those who need small cash to deal with unexpected financial emergencies. If you are looking for such loan in Singapore, here are some guides for you.

1. Figure out why you need this payday loan. If you need this loan to pay for a new car, car repair, tuition fee, or home improvement. You should know how much will you need and how long will you pay it back according to your financial conditions. You could consider a student loan. Different people seek for this loan for different reasons. If you look for this loan for unrealistic purposes such gaming, gambling, or drugging. You are not recommended to get a loan.

2.. Fees. Moneylenders may charge an applicant some fees for their services. It is wise to know how much money that a moneylender will charge prior to working with it. Commonly, a legal money lender will not charge fees if an applicant repays the loan in full prior to the due date.

3. Figure out terms and conditions. The terms and conditions that your moneylender provides you are in accordance with the contract you sign stating the amount, the repayment plan and the interest rate. It is wise to work with a licensed moneylender that offers you terms and conditions best suit your financial position. You must make sure that you have understood the terms and conditions because the contract you make is binding legally.