Instant Cash Loan in 1 Hour Without Documents in Singapore

One of our previous posts focused on OWWA business loans for OFWs. Today, we will discuss another money-related topic: instant cash loans. And when we say “instant,” we’re talking about loans that are processed and disbursed in just one hour!

There are certain times when we might need extra cash immediately. A vehicular accident, a medical emergency, a natural calamity — all of these are unexpected occurrences. In these situations, an instant cash loan may serve as a timely solution.

Instant Cash Loan in 1 Hour Without Documents in Singapore

Guide to Getting Instant Cash Loans in Singapore

When you apply for a loan with a bank, the process usually takes several days. Whether you’re applying for a short-term or a long-term loan, you also need to submit a lot of requirements.

On the other hand, borrowing from a licensed moneylender does not take too long. In fact, some companies are able to process, approve, and release an instant cash loan in just one hour!

With licensed moneylenders, as long as you have all the necessary documents, you can expect to receive loan funds in cash, or deposited to your bank account. If you are a repeat customer, you could probably have your loan processed even faster!


Who can apply for an instant cash loan? The following persons are eligible for instant cash loans in Singapore:

  • Singapore citizens and permanent residents;
  • Employed and self-employed residents (including full-time workers, part-time workers, freelancers, etc.); and
  • Foreigners who are working or studying in Singapore.


When applying for an instant cash loan, be sure to prepare these necessary documents:

For Singapore Citizens and Permanent Residents

  • National Registration Identity Card or NRIC

For Foreigners

  • Foreign Identification Number or FIN;
  • Valid Passport;
  • Work permit/S Pass/E Pass; and
  • Proof of residence (e.g. rental agreement, utility bills, etc.).

If you are a salaried employee, prepare the following as well:

  • Employment offer letter;
  • Signed employment contract;
  • Latest payslips and banks statements (last 3 months); and
  • Latest tax and Central Provident Fund (CPF) contribution statements.

NOTE: Take note that licensed moneylenders will only verify (not keep) original versions of the above documents. In any case, it would be a good idea to have photocopies ready when you submit an application.


Now that you know more about the criteria and documents required to apply for instant cash loans, below is a step-by-step guide on the loan application process. The procedure may vary among different moneylenders, but here is a general overview:

1. Apply in-person or online.

Most licensed moneylenders have official websites where you can submit a loan application. Simply enter your name, contact number, monthly salary, purpose of your loan, how much you want to borrow, and other details.

Of course, you can also go to the moneylender’s office and apply for a loan in-person. The staff will check and verify your documents for proof of identification and proof or income.

Whether you applied in-person or online, you will eventually have to go to the moneylender’s office to discuss their loan offer.

2. Discuss the loan offer.

Based on your submitted documents, you will receive a loan offer that indicates the loan amount you can expect to receive. A loan executive will also explain the installments, interest rate, repayment period, additional fees, and other details.

Keep in mind that the terms stated in the loan offer would depend on your income level, outstanding loans (if any), and other factors.

Do not hesitate to ask questions and to clarify any terms that you do not fully understand. You can even negotiate about the terms stated in the loan offer. Once everything is clear, a formal loan contract will be drafted.

3. Sign the loan contract.

Read the loan contract and make sure that you and the lender agree on all the terms stated there. If everything is in order, sign the loan contract. Both parties will receive a copy of this document.

4. Receive your funds.

As soon as you sign the loan contract, you can expect to receive the funds immediately. You can opt to receive the loan in cash, or request to have it deposited to your bank account.

Advantages of Instant Cash Loans

Still thinking about whether to apply for an instant cash loan — or not? At this point, let us go over some of the advantages of instant cash loans:

  • Fast approval. Compared to banks, licensed moneylenders are able to process applications faster since they have fewer “signatories” or layers of approval. The fact that they use mobile apps and digital tools also makes the process quicker, yet efficient.
  • Fewer requirements. As long as you have a steady job and are able to make repayments, you can expect to get a loan approval from licensed moneylenders. On the other hand, banks tend to be more strict and require additional requirements, including credit reports.
  • No credit discrimination. Even if you have a “negative” credit history, most licensed moneylenders would still be willing to give you a loan.

Disadvantages of Instant Cash Loans

To have a more “balanced” view, let us now take a look at the disadvantages of instant cash loans:

  • Higher interest rates. Licensed moneylenders typically charge interest rates of up to 4%, which is higher than loan interest rates in banks.
  • Shorter repayment periods. Since the repayment periods are shorter, you can expect to pay higher monthly installments to licensed moneylenders, as compared to most banks.
  • Higher fees. Licensed moneylenders usually charge higher processing fees and late payment fees, as compared to banks.

Reminders Before Getting Instant Cash Loans

So you’ve given it much thought, and decided to apply for an instant cash loan. Before heading to the moneylender’s office or submitting an online application, take note of these reminders:

  • Read customer reviews. Do some research and read reviews about different moneylenders before making a final decision. Better yet, talk to a friend who has already experienced getting an instant cash loan, and ask for his/her recommendations.
  • Double check your documents. See to it that you have all the necessary documents before submitting an application. Incomplete documents are usually rejected.
  • Maintain a good credit rating. Be sure to settle existing loans, make regular payments, and pay on time. This way, you can expect to have a good credit rating, thus increasing your chances of getting loans approved in the future.


Indeed, getting a loan in just one hour is possible, provided that you meet the criteria and submit all the required documents. In any case, consider all the advantages and disadvantages before getting an instance cash loan. More importantly, if your loan gets approved, be sure to make repayments regularly and on time.

Meanwhile, check out these tips for managing your bank accounts effectively. This way, you can also become better in managing your savings, investments, and other resources.