Licensed Money Lender
Personal Loan Bukit Panjang

Bukit Panjang is home to three community centres; however, it is known to be a relatively quiet town compared to some of the older housing estates in Singapore. The place has seen significant developments in recent history. 

If you are a Bukit Panjang resident and run short of cash, there are reputable moneylenders in town to help you with your needs.

How to Identify a Licensed Money Lender?

There are plenty of moneylenders in town. However, not all have a license from the government to be moneylenders. There are loan sharks that may cause you trouble. The good news is you can spot one. To transact with a best licensed moneylender Singapore, you have to consider the following characteristics: 

• Is the moneylender part of the list of licensed moneylenders in Singapore? The Ministry of Law of Singapore regularly publishes a list of authorised moneylenders. You may check the list here. In transacting with a moneylender, make sure that they are part of the list. 
• Is the moneylender following the rules and regulations on lending? In Singapore, making aggressive marketing of services such as those done via phone and social media messages and asking the transfer of money in fees before a loan is granted are not allowed. If you have been approached by anyone who does any of these, consider not pursuing your loan. 
• Does the moneylender have a physical office? Before granting a loan, licensed moneylenders require physical verification.

Factors to Consider When Taking a Loan

It is not easy to decide on the necessity of getting a loan. You must consider various factors. This is because there are legal obligations attached to a loan contract. In case you fail to fulfil your responsibilities, you may get into serious trouble. To prevent this from happening, here are the things you should consider: 

• Amount needed: First, know how much you need. Loans offered in the market have different minimum and maximum amounts. To determine which is best for you, you have to be particular with the amount you wish to borrow. This will help you eliminate other loan options in the market. 
• Interest Rates: Second, determine the interest rate of the loan. Interest rates vary depending on the loan agreement. It is essential to consider that interest rate because it will form part of the total loan obligation. 
• Loan Tenure: Third, ascertain the period you can faithfully comply with the repayments of the loan. The loan tenure is essential because it also affects the total loan amount and may increase it if you miss any repayments.

How Can We Help You?

There is nothing wrong with asking for help. This is also true when it comes to financial obligations. If you think that getting a loan is a daunting task, our company is here to offer help. We intend to guide you in coming up with the decision of getting a loan. We can provide you with the information you need. 

To get a free quote on the personal loans offered by the best licensed lenders in Bukit Panjang, fill in the form now!