When you need to apply for a loan, you can go directly to the website and use it, but when you are applying, you realize that you need some necessary documents for money lending purposes. The best money lender in Jurong east will ask for some documents that contain income details, employment proof, and identity cards to help with your application.
Here are some documents you must prepare before applying for a loan in Singapore.
Income proof
When you want to borrow money from a money lender bank or any financial institution, they will ask for the income statement. The income statement will clarify the doubts regarding the payment of the debt. According to your income, they will sanction the loan amount so that you can pay them back quickly. If Bank provides more loans than your income, it will put them at a loss where the probability of not paying back is really high.
The document that requires proof of income is
- Contribution statement to your Central provident fund.
- Latest income tax notice of assessment
- A bank statement that shows salary credit in your account
- In other income statements, according to the company or Bank.
These documents will help to be incredible and act as proof of income.
Identification card
An identification card is essential as proof of citizenship. It will help to pass the legal status. Identification cards will help determine whether the person applying for the loan is aware of it. Identification photocopy will create trust between borrower and lender. You can use an NRIC card or employment pass as an identification card.
Employment information
If you are working, you need to provide the certificate of employment to avail of the loan employment certificate can be obtained from the company, or you can also use the appointment letter and salary or bonus credit to prove the same. It helps the moneylender to determine their position.
Conclusion
These are some essential documents required for any loan. While for the educational business, a personal type of loan requires some specific documents. Before going to any money lending website, make sure to check all the required documents along with the primary document to avoid any inconvenience. It is also essential to check the credibility of money lenders so that you are not stuck with any legal company and lose your mental peace.
Documents to prepare for a loan in Singapore
When you need to apply for a loan, you can go directly to the website and use it, but when you are applying, you realize that you need some necessary documents for money lending purposes. The best money lender in Jurong east will ask for some documents that contain income details, employment proof, and identity cards to help with your application.
Here are some documents you must prepare before applying for a loan in Singapore.
Income proof
When you want to borrow money from a money lender bank or any financial institution, they will ask for the income statement. The income statement will clarify the doubts regarding the payment of the debt. According to your income, they will sanction the loan amount so that you can pay them back quickly. If Bank provides more loans than your income, it will put them at a loss where the probability of not paying back is really high.
The document that requires proof of income is
- Contribution statement to your Central provident fund.
- Latest income tax notice of assessment
- A bank statement that shows salary credit in your account
- In other income statements, according to the company or Bank.
These documents will help to be incredible and act as proof of income.
Identification card
An identification card is essential as proof of citizenship. It will help to pass the legal status. Identification cards will help determine whether the person applying for the loan is aware of it. Identification photocopy will create trust between borrower and lender. You can use an NRIC card or employment pass as an identification card.
Employment information
If you are working, you need to provide the certificate of employment to avail of the loan employment certificate can be obtained from the company, or you can also use the appointment letter and salary or bonus credit to prove the same. It helps the moneylender to determine their position.
Conclusion
These are some essential documents required for any loan. While for the educational business, a personal type of loan requires some specific documents. Before going to any money lending website, make sure to check all the required documents along with the primary document to avoid any inconvenience. It is also essential to check the credibility of money lenders so that you are not stuck with any legal company and lose your mental peace.