Payday loan Singapore offer clients with one of the best options to get credit on a short notice. Payday loan Singapore can come to your rescue regardless of your credit history. The short term unsecured loans are a unique and convenient option for many borrowers. If you are a potential borrower seeking for a payday loan here are some of the tips for you.
First, report your income accurately. There is a minimum requirement for borrowers when it comes to this form of loans. The required amount is $ 1,000 per month for persons with steady jobs. There are lenders who require borrowers for at least three months. It is wise not to exaggerate your income since it will not assist you in the end. It is not good to inflate your monthly income with freelance generated money in order to increase your income. Most of the lenders only want to work with the income you make from your permanent job. This means that you should only tell the company the truth about yourself if you want to get approval for the loan.
Secondly, you should look at the debt to income ratio before seeking approval for any loan. If you want a loan of $ 1000, you are less likely to get the same with $ 1000. The chances of getting approval will be higher if the amount of money you want is a fraction of your income. In addition, the lower the amount of money lender you are going to apply the more likely you are to get approval.
Thirdly, examine your credit score. All lenders want borrowers with a good credit score. It is recommended to pay attention to your credit score if you are thinking about a loan in future. A credit score of over 770 will increase your chance of getting the cash you want.