#online-lending

#online-lending

A borrower visits an online money lender's website or app, fills out a digital application form, and uploads the required documents - typically a NRIC, proof of income, and recent bank statements. The lender reviews the application (often within the same day), and if approved, presents a loan contract with the terms spelled out: principal, interest rate, repayment schedule, and fees. Once both parties sign, the funds are disbursed directly to the borrower's bank account.