Fastest Bank Loans
Most people would rather not take up a loan if possible but there are times where you might need a personal loan urgently for whatever reasons – be it to pay a deposit for a big ticket item, to pay up for an urgent debt or to relieve a short term cash flow problem.
Here’s a look at some of the fastest loan approval by banks in Singapore:
While in the past taking a personal loan might be a lengthy process, the efficiency of financial institutions these days means you can seek out a quick credit approval for personal loans. Obviously, having a good credit record helps in expediting the process.
HSBC Personal Loan
HSBC’s personal loan promises a quick 1-hour approval in-principle so that you can get the cash you need as soon as the next day. It is one of the most comprehensive personal loan which provides a long loan tenor of up to 8 years with no need or guarantor or collateral. There is also 0% processing fee and no lock-in period after the first year.
To ensure you get your money as soon as possible, get ready your financing requirements, personal details and your employment details so that they will be able to process the loan fast.
Apply online now and enjoy a loan rate from 4% p.a. (EIR 7.5% p.a.) flat rate, regardless of tenor or loan amount (exclusive with EnjoyCompare).
Standard Charterd CashOne Loan
The Standard Chartered CashOne loan offers a fast receive cash the next day. Terms and conditions apply. With up to 4x your monthly income (Max. amount of $250,000) and a a low interest rate as low as 6.88% p.a. (EIR of 12.75%). Plus enjoy up to S$1,088 cashback upon loan approval and a an additional $50 cashback when you apply online. Plus, you will be awarded an additional $199 credit to offset the first-year annual fee charged on your approved loan.
All applicants must be 21 to 65 years old and Singapore citizens and permanent residents must have a minimum annual salary of $20,000. with foreigners with an Employment Pass requiring a minimum annual salary of $60,000.
Citi Personal Loan
Citibank offers a competitive 4.55% p.a. interest rate (EIR 8.50% p.a.) on instalment loan with Citibank Ready Credit, with a $1,000 minimum loan amount and Loan tenure of 36 months. Plus apply today and enjoy the convenience of No processing fees. All approval Citibank loans will have the funds deposited within the next working day into your Citibank account or up to 5 working days for non-Citibank account. Eligible for new Citibank customers who apply for Citibank Ready Credit account.
All applicants must be 21 to 65 years old and Singapore citizens and permanent residents must have a minimum annual salary of $30,000. with foreigners with an Employment Pass requiring a minimum annual salary of $42,000.
Standard Chartered’s Dash Advance
The Dash Advance offered by Standard Chartered Bank offers those on-the-go a convenient way to apply for a loan using just a mobile phone. It also assures an approval-in-principle within 1 minute of your loan application. With such a high mobile penetration rate in Singapore, this loan is sure to appeal to the techonologically-savvy!
As a bank that seeks to use technology to increase efficiency, Standard Chartered advises its customers to take a photo using their smartphone to upload the relevant income documents to speed up the loan approval process.
Loan amounts are capped at two times your monthly income if your annual salary is between $20,000 and $30,000, or up to four times your monthly salary(maximum $200,000) if you earn above $30,000 per annum. You can repay your loan over a maximum 5-year period.
UOB Cashplus Personal Loan
The UOB Cashplus guarantees a same-day approval when you fax in your application before 2 pm on weekdays and you can start using the Cashplus facility once you receive your welcome pack and chequebook. You can access the cash through a myriad of ways- cheques, ATMs and also via internet fund transfers. Sign up online now to receive between $20-$100 of Dairy Farm vouchers!
DBS, known for its suite of mobile apps that makes transactions easy for its clients, has also introduced the DBS Quick Credit App to allow customers a convenient way to apply to its DBS Cashline. The app combines the OCR (Optical Character Recognition) technology with an instant loan application status capability to make loan application fast and easy.
By uplloading a photo of the document you need, the OCR technology will be able to use the information in your image to automatically fill in the required fields of the form. This really helps those who are applying via their phone as it makes the form-filling process much easier.
DBS Cashline lets you borrow up to four times your monthly salary with first year fee waiver for the service.