What are online personal loans?

Online personal loans are means of borrowing money that will be used for personal purposes such as buying cars, traveling abroad, repairing kitchens, and taking classes. The different transactions involved in online personal loans are done through either Internet banking or Telephone banking.

What are the benefits of online personal loans?

Online personal loans are considered to be great ways of borrowing immediate cash. Because the application process is fast and easy, the applicants can expect an answer from the lenders a few hours after the submission of the application form. The main benefit of online personal loans is convenience. Applicants don’t need to travel all the way to the nearest lending office just to submit their online personal loan applications.

There are three ways of applying for online personal loans:

  • by visiting the lender’s website to accomplish the online application form
  • by downloading and printing the application form from the lender’s website to send it via fax
  • by calling the lender’s hotline number to discuss the application with a customer relationship consultant

Who is eligible to apply for online personal loans?

Applicants of online personal loans have to be either citizens or permanent residents of Singapore who are at least 18 years of age. Other requirements include a stable job, a permanent source of income, and a good credit rating. Crawfort is leading money lending company in Singapore for different types of loans and their website is very informative. You can visit their website to find all the answers to your loan related questions.

What are the requirements needed to apply for for online personal loans?

Online personal loan lenders require the applicants to submit documents that contain information about their personal profile, employment history, credit rating, and asset list. Lenders usually ask for the contact numbers of the accountants of self-employed applicants and the landlords of renting applicants. In the presence of pending debts, the applicants also need to pass copies of the documents related to those existing loans.

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