Short-term loans work the same as medium and long-term loans, and the only distinction is that it is for a shorter repayment period, which is for one year. The period for less than two years is also known as a short – term. While taking a short-term loan, we are always aware that it has to be taken to pay off the loan for one year.
The repayment of short-term loans is made more quickly within one or two years, or often it is done within 90-120 days, as per industry average. The easy loan Singapore is best for every type of loan one chooses.
Need for applying for a personal loan
The following are to be approved for lending in terms of documents:
- Proof of Identity: Singapore identification card+ passport
- Proof of address: Residential address should be included in documents
- Proof of income: central provident fund for the latest 12 months should be contributed in history statement or latest income tax notice of assessment.
The easy loan Singapore, a personal loan should be qualified between 21 and 65 years old. The minimum annual income of S£30 000 is the requirement of all the banks. Some of the banks have a yearly income of S£20 000 for lending it to people. The annual income for lending limit increases from £40 000 -£60 000 for foreigners.