Life’s unpredictability—such as unemployment, medical emergencies, or business setbacks—can make fast cash loans necessary for managing financial challenges. It offers instant approval and disbursement, providing immediate funds to address urgent financial needs without delay.

In this article, you’ll find practical guidelines for obtaining fast cash loans from licensed moneylenders in Singapore, covering the application process, eligibility criteria, loan management, and special offers.

What is a Fast Cash Loan?

A fast cash loan is an unsecured, short-term loan typically ranging between $500 up to 6x your monthly income for personal loans, designed to cover unexpected expenses or emergencies. These loans provide quick financial assistance, allowing borrowers to receive funds on the same day they apply.

Due to their unsecured nature, fast cash loans often come with higher interest rates to compensate for the increased risk to the lender. The loan tenure is generally shorter, usually between 1 and 6 months, making them a quick and temporary financial solution.

Financial experts at NerdWallet recommend that when comparing fast personal loans from various lenders, you should not only focus on the speed of funding but also carefully evaluate the interest rates and loan terms.

types of cash loan

Types of Fast Cash Loans 

Fast cash loans are known by several names, each reflecting their quick access to funds and short repayment terms. Common types include:

  • Payday Loan: Short-term loans repaid on the borrower’s next payday, ideal for immediate cash needs with quick approval but high interest rates.
  • Personal Loan: Unsecured loans for various personal expenses like home renovations or debt consolidation, repaid in fixed monthly installments over a set period.
  • Business Loan: Designed for small and medium-sized enterprises (SMEs), these loans provide capital for business operations and growth, with flexible repayment terms.
  • Bridging Loan: Short-term loans that bridge the gap between the sale of an existing property and the purchase of a new one, providing temporary financing.
  • Renovation Loan: Loans specifically for home improvements and renovations, offering funds to cover the costs of upgrading a property.
  • Foreigner Loan: Personal loans available to foreigners residing in Singapore, catering to their financial needs with tailored terms and conditions

Examples of Situations Where Fast Cash Loans Are Useful 

Fast cash loans can be a lifesaver in various scenarios, providing immediate financial relief when needed most. Some common situations include:

  • Medical Emergencies: Unexpected medical expenses can arise at any time, and fast cash loans can help cover costs such as hospital bills, medications, or urgent treatments.
  • Home Repairs: Sudden home repairs, like fixing a broken appliance or addressing structural damage, often require immediate attention and funds.
  • Vehicle Repairs: Car breakdowns or accidents can lead to hefty repair bills. A fast cash loan can ensure your vehicle is back on the road quickly.
  • Weddings: They can help cover either a portion of wedding expenses, such as venue, catering, or photography wedding packages.
  • Emergency Travel: If you need to travel urgently due to a family emergency or other unforeseen circumstances, a fast cash loan can cover travel expenses.
  • Credit Card Bills: Fast cash loans can also be a strategic tool for managing high-interest credit card debt. By taking out a lower-interest personal loan to pay off credit card bills, you can buy extra time to pay off your debts and reduce the impact of high interest rates on your savings.

Fast Cash Loan Features

Understanding the terms and conditions of a loan is essential before applying. Here’s a brief overview of the key aspects:

  • Loan Amount: Personal loans provide up to six times your monthly income. Payday loans can be up to one month’s salary.
  • Interest Rates: Capped at 4% per month by legal money lenders, regardless of loan amount and income.
  • Repayment Terms: Personal loans are usually up to 12 months, payday loans up to one month, and bridging loans are repaid monthly or upon property completion. Adhering to the repayment schedule is crucial to avoid additional fees and higher interest rates.

Pros and Cons of Fast Cash Loans

Fast cash loans can be a quick solution for urgent financial needs, but they come with their own set of advantages and disadvantages:


  • Quick Approval and Disbursement: Funds are often available within hours or a day.
  • Minimal Documentation: Basic personal information and proof of income are typically sufficient.
  • Flexible Borrowing Options: You can borrow only what you need without long-term commitments.
  • Convenient Access: Online applications make it easy to apply and receive funds from home.


  • High Interest Rates: Fast cash loans often come with higher interest rates compared to traditional loans.
  • Short Repayment Terms: The repayment period is usually brief, which can be challenging.
  • Potential for Debt Cycle: High costs and short terms can lead to repeated borrowing.
  • Impact on Credit Score: Late payments or defaulting can negatively affect your credit score.

applying for fast cash loan

How to Apply for Fast Cash Loans in Singapore

Applying for a fast cash loan in Singapore requires meeting specific qualifications and providing essential documents. Here’s a quick overview of what’s needed to qualify and what documents to prepare.


  • Applicants should be 18-years and above
  • Be Citizens or a Permanent Resident
  • Have a steady employment
  • Annual Income:
    • Singaporean / PR: S$2,000
    • Foreigner: S$3,000


  • ID Card (NRIC)
  • Billing Proof (latest bill showing your residential address)
  • Most recent original 3 month payslips
  • Valid Employment Letter (Applicable for those in new employment)
  • Valid Singpass Login

Steps to Apply:

1. Call or Apply Online: Begin by contacting the lender via phone or their website, providing basic personal information and the desired loan amount.

2. Visit for In-Person Consultation: After your application is received, attend an in-person consultation to discuss loan terms, clarify doubts, understand the repayment schedule, and finalize details.

3. Receive Your Cash on the Same Day: Once the terms are agreed upon and documents are signed, you will receive your cash loan on the same day, ensuring prompt access to funds.

credit score

Importance of a Good Credit Score

A good credit score simplifies and speeds up the personal loan application process. High scores lead to quicker loan approvals and benefits like waived credit card renewal fees and better loan interest rates.

Many financial institutions require good credit scores for financing approval, and banks often reject applications with lower scores.

However, legitimate Singapore moneylenders do not require credit scores for fast cash loans; proof of income and employment suffices. This flexibility makes payday loans accessible to more borrowers, even those with less-than-perfect credit scores.

instant loan approval

Tips for Instant Loan Approval

Securing instant loan approval involves several key steps:

  • Choose Loan Amount and Type: Rosale Amber, Sales Associate at HGB RFV WDC VUJHN, advised in a LinkedIn article to carefully assess your budget before selecting a loan product and determining the required amount. She emphasized the importance of borrowing only what you need to avoid accumulating unnecessary debt.
  • Gather Necessary Documents: Depending on the money lending information you get from the lender, it is advisable that you make a checklist of the proper documents needed in applying for a loan. A checklist will help you track documents you have or don’t have yet. Keep in mind that an incomplete application is a reason for a loan to be rejected.
  • Use SingPass MyInfo: Utilize SingPass MyInfo for a faster and more efficient application process by securely sharing your personal information with the lender.
  • Accurate Information: Ensure that all the information provided in your application is accurate and up-to-date to avoid delays.

IMPORTANT: When applying for a loan, avoiding common mistakes can increase your chances of approval and ensure a smooth process:

  • Incomplete Applications: Double-check your application to ensure all fields are filled out and no information is missing.
  • Unrealistic Loan Amounts: Avoid requesting more money than you need, as this can lead to higher interest rates and a greater chance of rejection.
  • Ignoring Credit History: Be aware of your credit score and work on improving it before applying for a loan.
  • Skipping the Fine Print: Carefully read and understand the terms and conditions of the loan agreement to avoid any surprises later.

Account for your everyday expenditures - Fortune Credit

Tips After Borrowing

Managing a loan effectively is crucial for financial stability. Here are some tips:

  • Create a Repayment Plan: Develop a detailed repayment plan that outlines your monthly payments and ensures you can meet them without financial strain.
  • Set Up Reminders: Financial experts at Bankrate recommend setting up autopay to simplify the process of making monthly payments. This can save you the hassle of remembering due dates. Additionally, many lenders offer an autopay discount, which can reduce your interest costs over the life of the loan, helping you save money.
  • Maintain a Budget: Stick to a budget that prioritizes your loan repayments alongside other essential expenses. “Rewrite your budget to include the monthly loan payments. If your debt-to-income ratio is too high with the loan, reconsider taking out a personal loan, said Howard Dvorkin, CPA And Chairman Of Debt.Com.
  • Make Extra Payments When Possible: Contributing additional funds toward your personal loan can help you pay off your debt more quickly. Moreover, paying off the loan ahead of schedule reduces the total interest you pay, ultimately lowering the overall cost of the loan.
  • Communicate with Your Lender: If you foresee any difficulties in making a payment, contact your lender immediately to discuss potential solutions.


1. How can I borrow money and get it instantly?

To borrow money instantly, apply for a fast cash loan with a lender that offers quick approval and same-day disbursement. Ensure you have all necessary documents ready and use services like SingPass MyInfo to speed up the process.

2. How to get urgent cash?

Urgent cash can be obtained through payday loans, fast cash loans, or personal loans from licensed money lenders in Singapore. Applying online or over the phone can expedite the process.

3. How can I get fast cash in Singapore?

In Singapore, fast cash can be secured by applying for a micro loan, payday loan, or small personal loan. Many lenders offer quick application processes and same-day fund disbursement.

4. What is the easiest cash loan to get?

The easiest cash loan to obtain is often a payday loan, as it typically requires minimal documentation and does not heavily depend on credit scores. Licensed money lenders in Singapore offer various options tailored to different financial needs.

Need Financial Assistance?


Fast cash loans provide an efficient solution for managing urgent financial needs with quick approval and minimal documentation. You can make informed decisions and avoid potential pitfalls by understanding the application process, eligibility criteria, and effective loan management tips.

Key Takeaways:

  • A fast cash loan is an unsecured, short-term loan designed to cover unexpected expenses or emergencies. Funds are often disbursed on the same day as the application.
  • Required documents typically include an ID card (NRIC), proof of address, recent payslips, a valid employment letter for new employees, and a SingPass login.
  • Personal loans range from $500 to six times your monthly income, while payday loans can be up to one month’s salary. Interest rates from legal money lenders are capped at 4% per month. Repayment terms are up to 12 months for personal loans and one month for payday loans.

Need a fast cash loan? Fortune Credit is Singapore’s top licensed money lender, providing excellent loan options and competitive rates for everyone. Contact us at 6777 1887 today and secure your financing quickly and easily!