Payday loan (also known as cash advance loan) is a loan borrowed from a money lender to help you solve a short term problem until you receive your next paycheck. Even though payday loans has got higher interest rates compared to other types of cash loans, many people still prefer this loan when in an emergency situation such as paying utility bills or unexpected medical bills. This is because the requirements to get a payday loan are a lot easier and you will usually receive the money on the same day you apply for the personal loan Singapore. Even if you have a poor credit score you can also get a personal loan as long as you can prove that you are working. Make sure you go through the term and conditions of the personal loan. Many people skip over this portion and regret afterwards. It is very important you read carefully these terms and understand all of them. Make sure you are aware of the total amount you are expected to pay and the due date.