Having a stable job might not actually work as an immunity for you when unforeseen events happen. When an emergency occurs and hits you right in the face, you might not withstand the blow. As we all know that especially you need a lump sum of for hospitalisation medical bills, it drains you out real quick. Times like these, what are you supposed to do if you do not have enough money to pay off? Those that are lucky, you might be able to get some help from your friends and families. But to some people, you might not have the resources to do so. You’ll eventually look for other options such as bank loans. However, the downside of borrowing from the bank, the waiting time for approval takes ages that can be up to two weeks or more. Do you have enough time to wait for such a long period? Sometimes when you need fast cash and if you have stable income monthly, you can always apply for payday loan Singapore with licensed money lender. Do not worry, they are legal moneylenders that are fully authorised by the Ministry of Law. Well of course, who likes to borrow money? However, nobody can foreseen what is going to happen especially in times of desperate situation.

When should you take up payday loan?

Nobody knows. Nobody knows when is a good time to borrow and no, do not borrow for the sake of borrowing. Do not borrow just because you want to use the money to feed on your materialistic self. If you ever need to borrow, you have to borrow it responsibly. As we all know that unsecured loans usually have slightly higher interests rate as compared to others, however, they are the most convenient and quick method to get cash in hand. But then, before you decide to take up a payday loan in Singapore, always remember and bear this in mind, please do a thorough research. You ought to understand what you are signing yourself up for, as you’ll need to pay back what you borrow and not push to someone else to settle the payment for you.

When you have successfully applied for a payday loan, you might start to worry about how to pay off the loan. These following tips may help you to repay your debt on time:

Once is enough

Once bitten, twice shy. Borrowing money is very easy, but the paying off process is way difficult than you ever expect. Please do not make it as a habit and keep applying for loans. You should never get yourself comfortable with borrowing money as you will get complacent, thinking of using loans to repay other loans. Eventually it will snowball and the debt will just get more and more till the stage whereby you no longer capable of repaying anymore. That’s when additional problems will arise. So please stay away from debt and keep your mind at peace!

Self Control

These days, with the strong advancement of technology, fresh new gadgets keep coming out. Honestly speaking, they can be quite attractive and irresistible. Even though these expensive gadgets may be great to have, as it elevates your social status, keeping you in the social loop and feeling inclusive among your peers. However, living a lavish lifestyle will be harmful to your pockets if you cannot afford to lead such lifestyle as it is the same as digging your own grave. We all know that debt is painful, so only take up a personal loan only in times of desperate measures.  


If you were to apply loan from banks or licensed money lenders in Singapore, you have to repay your debts in time. As we all know that they have high interest rate and it is not a wise idea if you think you can run away from it. It is like snowball, the sum will only increase and not decrease at all. So be wise about your decision, paying off your loan is very important. If you do not pay off your loan, you will accumulate bad credit score. In future, if you ever need to get loan, you might not be able to get it anymore. So think twice before you act as it will eventually cost you more troubles in future.