Licensed Money Lender
Personal Loan Bedok
Bedok is located along the south-eastern coast of the East Region of Singapore. It is divided into eight sub-zones for administrative and development purposes. These sub-zones comprise large residential facilities with all the necessary amenities needed for happy living. It is perfectly located just near to the city and being secluded from the noisy city life both at the same time.
Summary of Top Legal Money Lenders of 2022
Because the cost of living is pretty much high, enjoying simple things when we want to take a break from our busy lives would also mean a little stretch on our budget. Luckily, places like Bedok has reliable moneylenders around the area. If you think you are capable of repaying a loan, it might be the best time to let yourself enjoy a little bit of relaxation.
In such a case, it is necessary to educate yourself about finding the right lenders and factors that you must consider while taking the loan.
How to Identify a Licensed Money Lender?
There is a possibility that the lender you are considering for taking a loan is a loan shark who would create a problem for you in the long-run. If you fall for such a lender, you won’t be protected by the law as well. Hence, it is necessary to understand the difference between the two and find a legitimate lender.
- A legal lender can only post and educate others about their services via their website. Social media and advertisement related marketing channels are prohibited.
- The licensed lender would only use their company phone number in any advertisements. They will never use a mobile number in advertisement or when they are in contact with their customers.
- The legal process does not allow legitimate lenders to retain any of their customers’ confidential information.
- They will never collect or request for your sensitive information like SingPass.
- They will only keep the contract signed by both parties with clear terms and conditions as evidence for your transaction.
If you are dealing with a lending organization that does not follow the above, you must back off immediately.
Factors to Consider When Taking a Loan
- Repayment period: Remember, the longer the loan term, the smaller the monthly repayment, but the interest will be more, and you will end up paying more in the long run. So, make sure that you need repayment duration short, otherwise, you will end up paying more.
- Interest rate: This determines the total amount of debt you will have to pay to the moneylender. Keep in mind that the moneylender should not go beyond the 4% monthly interest rate cap
- Amount you need: Moneylenders have a wide range of loans to offer; set in different rates and loan tenure. Knowing the amount of money you need will make it easier for you to set a smooth repaying schedule, also you will be more specific in what loan you will get.
How Can Loan Advisor Help You?
Loan Advisor can help you by comparing authorised money lender Singapore and coming up with the best loan deals for you to choose. We will make sure that you get the deals from best licensed lenders in Bedok. It is as easy as filling out the form with all the necessary information. Rest assured, we will take care of everything.
