Licensed Money Lender
Personal Loan Bugis

Today, Bugis has the largest street-shopping location in Singapore. The area can also give you the fusion of the past and present. Being in the Central Region, the site is home to national monuments and commercial centres. It is also well connected to the rest of the city. Its strategic location makes it an attractive choice for a residence. 

If you have yourself in a situation where you need cash, you need not worry because there are money lenders in Bugis. 

How to Identify a Licensed Money Lender?

Moneylenders are plenty in Bugis. However, not everyone is licensed. Some are even loan sharks. To identify a licensed money lender, some characteristics that you need to evaluate. If you plan to look for best licensed money lender Singapore, consider these: 

• Check if the Ministry of Law of Singapore lists of moneylender as a licensed money lender. The list is accessible here. 
• Observe if they do some irregular behaviours. Moneylenders adhere to the rules and regulations on lending. They don’t engage in aggressive marketing of their services via phone messages and social media. They are also not allowed to ask for money transfers in fees before they grant a loan. If you observe that your potential lender does any of these, consider not getting a loan from such lender. 
• Visit their physical office at least once. Licensed money lender operates with a physical office. Thus, better to visit the office for verification before getting a loan. 

Factors to Consider When Taking a Loan

There are several factors to consider when taking a loan. There are three factors that you should not miss in considering. These factors help you decide whether you want to apply for a loan or not. They also determine which is the best loan for you. 

• Amount needed: Before getting a loan, determine first the amount that you only need. This will help you choose the best loan to get. Not all loans offer the same amount. Thus, knowing how much you need is the first step.  
• Interest Rates: Interest rates vary depending on the type of loan. It is not uniform. This is important to weigh, considering that it will add to the amount you need to pay. 
• Loan Tenure: It is essential to ask yourself how much you can pay the loan. There are short-term and long-term loans offered in the market. Determining how long you are willing to settle the obligation should also be considered.

How Can We Help You?

If you find all the information above overwhelming or if you do not want to stress out with these steps, then we are here to help. Our goal is to help you decide which loan is best for you. 

Loan Advisor offers free to receive up to 3 loan quotes on the personal loans offered by the best licensed lenders in Bugis, apply now!