Apply Payday Loan in Singapore
When you want to apply payday loan online，you should follow 6 steps. These 6 steps are as follows：
1 Go to the company’s website. Once you have compared several companies to each other, choose the one that you think is most reliable and pull up the application on their website. Make sure to read over the application in full to look for any fine print that could potentially hurt you.While you might find an application that is spread out over several pages less intimidating than one that is listed all on one page, it is very important that you be able to see all of the application so that you can look for hidden fees.If you do want to fill out an application that only is partially view able, make sure that you confirm with the company beforehand that your information will be deleted if you decide not to fill out the entire application.
2 Select your state to make sure that you receive the correct rates and policies. Different states have different restrictions on payday loan. Some states put a cap on the amount that can be borrowed, while others do not let you renew payday loans when your payment date comes up.Double check that you have filled in the correct state that you live in so that the application fits your state’s rules.
3 Double check the fees that will apply. Make sure that the fees remain the same throughout the application. Take a look at the interest rates and decide if you are really willing to pay such a high interest rate. The Truth in Lending Act requires payday loan companies to be completely transparent about their fees and interest rates.Interest rates can range from 400% APR (annual percentage rate) to 780%. To further explain, companies will commonly charge at least $25 per every $100 borrowed.
4 Fill out the application with all of the necessary information. As mentioned above, different companies will require different kinds of information. At the very
least, you will most likely be asked to supply your:
Date of birth and name
Contact information
Bank account information
Employment and employer information
5 Wait for your payday loan to be approved and check your email. Once you have completed the application, it will have to be approved by the payday loan company. Some companies will process applications faster than others, but it seems that most companies will send out approval emails within three business days.Most online loan companies will use email to contact you and tell you whether or not you have been approved for a loan.
6 Pick your cash up, or have it deposited into your bank account. Once you have been approved, the company will generally transfer you the money within a business day after you have been approved. Keep in mind that allowing the company access to your bank account means that they will take the money you owe them as soon as the payment day arrives.You may also be able to get the money placed on a prepaid debit card.
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