QV Credit Payday Loans in Singapore
If you are strapped for cash before your next payday, you might be in need of some extra money fast. With monthly bills, children’s school fees, utilities, and all other costs of living in this expensive city, taking loans is quite common. Furthermore, payday doesn’t always come when we need it to cover our expenses, and that is where a payday loan comes in handy! However, many people in Singapore are unaware of what a payday loan is, and how it can benefit them. Here, we will explain what a payday loan is, and how a cash advance like this can help you if payday is too far away for your expenses.
What Are Payday Loans in Singapore?
In simple terms, payday loans are loans you get from moneylenders when you run into a financial emergency and have not reached your monthly payday to cover the expenses. It is a short-term instant cash loan that allows you to make payment for expenditures you otherwise cannot cover. For example, you might need some money to pay for your child’s school fees but payday is still a few weeks away. Instead of sacrificing your other monthly expenses, you can take out a payday loan and make the repayment the following month. Payday loans are designed to be smaller amounts that are easily repaid.
Many people are suspicious of taking out loans as illegal moneylenders have left a sour taste in their mouths. However, if you take payday loans from a legal and licensed moneylender, you can be assured of honesty and affordable interest rates.
Therefore, if your payday is nowhere near and you find yourself in a financial emergency, a payday loan can be a great alternative cash advance to solve your issues!
When Will I Need a Payday Loan?
If you are an employed individual in a difficult financial situation and need some extra cash to cover urgent expenses, then this is the loan type for you! You might need some quick cash, or have a bad credit score and hence need some cash advance. Taking out a payday loan with QV Credit will help tide you over the difficult month. You should be able to settle monthly bills with this additional cash. As these are short-term loans, they should be easily repayable within the next payday.
Payday loans are beneficial as a rescue in difficult financial times, and a means of adding on to your salary if it is not enough to cover costs. After you add up all the costs of living — housing, utility bills and day-to-day living, it can add up to a lot of money. Furthermore, if you have a family, school fees and allowance needs to be factored in as well. All these monthly bills may be too much to cope within your payday schedule, and hence a cash advance through payday loans to supplement your income can be of huge help!
However, do take note that if you need a large amount of cash that is far beyond your income earning, then you should not take on a payday loan. As it is a short-term, unsecured cash advance, you will need to make repayment when your next payday comes. If you are unable to fulfill that requirement, then you should not take on a payday loan. These loans need to be paid back within the next payday, so make sure the loans are of a small, repayable amount.
If you take out loans that go above the needed amount, you might be tempted to spend the extra money. That is why when applying for loans, you know exactly how much you really need. Our loans assistant will help advise you on the amount to borrow, so you can comfortably repay your loans without incurring extra debts!
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How Do I Qualify for a Payday Loan in Singapore?
To qualify for a payday loan from QV Credit and any other licensed moneylender, you will need to meet some basic requirements. You have to provide proof of your employment status and be above 21 years old. You must also be a Singapore citizen or possess a legal work permit for Singapore.
Read on to find out the exact documents that will be needed when taking out payday loans with us!
Why Should I Take Payday Loans with QV Credit?
We also pride ourselves on putting our clients first. We understand that your need for loans is out of desperation as you cannot control your payday. We also do not want you borrowing from family or friends, as finances can ruin relationships. Loans are meant to help you, not hinder. We also know that taking loans from unscrupulous lenders will incur high interest rates and inflexible repayment schemes, so it goes without saying that you do not take loans from such people! We are a licensed, legal moneylender and hence are bound by and adhere to the rules of the Ministry of Law.
Hence, here at QV Credit, our aim is to help take away the stress and solve your problems. More than that, we have streamlined our payday loan process, from application to disbursement, to make it as swift and simple as possible!
All our loans have the following characteristics:
How Do I Take Out a Payday Loan in Singapore?
QV Credit’s Payday Loan Package is made simple and quick and aimed at giving you the fast cash you need. Here is how it works and what you can expect to happen when taking a Payday Loan Singapore with us.
If there are any special requirements you may have regarding your payday loan, we will be more than willing to accommodate you as much as we can. Drop us a call at +65 6100 8655 if you have any queries.