Loan

Know About Short Term Loans With Easy Loan Singapore

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.

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