Bukit Gombak is one of the subzones of Bukit Batok, a residential town within Singapore’s West Region. It is a hilly neighbourhood that serves as a home to the country’s second and third highest hills.
Thus, it’s no surprise that Bukit Gombak is largely associated with nature parks that can be enjoyed by people of all ages. This includes the new Bukit Gombak Park, as well as signature attractions like Bukit Batok Nature Park, Bukit Batok Town Park, and Bukit Batok Hillside Nature Park.
For those who are looking for financial safety nets, Bukit Gombak also has reliable moneylenders that can help you out anytime.
What is a payday loan?
Based on the name, a payday loan is a short-term loan that provides a cash amount that’s equivalent to the borrower’s monthly salary. It’s typically paid within a month’s time when the borrower gets their next paycheck.
Advantages and risks of taking a payday loan
Here are some ways that a payday loan can help you:
- Quick approval and processing: Applications can be approved as quickly as an hour, so loans can be granted within the same day.
- Great for emergencies: Following from the previous point, payday loans are recommended for emergency cases because there’s far less waiting time involved.
- Minimal requirements: You don’t need to present a lot of documents when you choose to work with a licensed moneylender (see requirements below).
And here are some risks that you should keep in mind:
- Late payments can lead to debt snowball: Since payday loans are due to be paid within a month, your debt can quickly snowball if you miss the payment date.
- Negative effect on credit score: While payday loans are handy in times of urgent need, they can also affect your credit score negatively, especially with late payments.
How to get a payday loan?
Listed below are the things to take note of when getting a payday loan:
- Must be at least 18 years old
- Minimum monthly income of SGD 1,500 for Singaporeans and SGD 2,000 for foreigners
For locals and permanent residents:
- NRIC / identity card
- Proof of residence
- Proof of employment
Additional requirements for foreigners:
- S-pass / employment pass / work permit
- Proof of income
Steps to apply
1. Apply online: Go to the moneylender’s homepage and fill out the online form near the top. You can also call their phone number for assistance.
2. Attend appointment: Upon approving your application, you’ll be invited for an appointment to finalize your loan plan.
3. Receive payday loan: If the plan’s terms and conditions are manageable for you, you can get your cash after signing the contract.
How can A1 Credit help you?
A1 Credit strictly follows the rules and regulations set by the Moneylenders Act. Not only does this allow us to stay in business for more than a decade, but it also helps us provide the best service to our customers.
It has always been our mission to treat each unique case with the attention it deserves. Thus, you can expect a personalized plan that’s made just for you.
Looking to get a loan? Bukit Gombak Personal Loan can help you out with that! Payday loans can indeed be the net that saves you when you take a fall. Fortunately, a Licensed Money Lender Bukit Gombak is here to serve you.
Contact us at 6336 0833 or [email protected] so we can help you get your payday loan as soon as possible.