Licensed Money Lender
Personal Loan Changi Airport

Activities in Changi Airport are fun but can get your budget stretched to its limit. When you run out of cash and you think you can repay a loan without a sweat, there are reliable moneylenders around the area that can assist you. However, loan sharks are just around the corner too. Read on to know more about identifying a best licensed moneylender Singapore.

How to Identify a Licensed Money Lender?

Make sure you are dealing with a licensed rather than an unlicensed moneylender. You are only legally protected if you deal with a licensed moneylender.

• Check for their details in the list of Registry of Moneylenders on the Ministry of Law’s website. Only a licensed moneylender will be present in the list. If a licensed money lender is violating the rules, the Ministry of Law will revoke their license, immediately removing them from the list.
• Information about a licensed moneylender should always match what’s published on the Ministry of Law’s website. Imposters tend to copy every detail from a licensed money lender to make them look legitimate. Asking the necessary questions will save you from dealing with fraud. 
• A licensed moneylender will invite you to come to their office for contract signing. This contract will be legal, indicating all the details like fees, penalties, interest rates, and other information. They will clarify any doubts that you have and further information needed. They will not use foul language and will never threaten you.

Factors to Consider When Taking a Loan

You must consider some factors before applying for a loan. These factors help you make the best decision with regards to a loan application.

• Loan Amount: Evaluate the amount that you need to borrow. With every loan, there is a minimum and a maximum amount that can be taken by the borrower. It can vary from lender to lender, your income, your credit score, and if it is a secured or an unsecured loan. 
• Interest Rate: This determines the total amount of debt you will have to pay to the moneylender. Since October 2015, moneylenders can only charge their interest rates not more than 4% a month. 
• Loan Tenure: A longer duration means you will have to repay more. So the loan tenure should be ideal, not too short making it difficult for you to repay and not too long making you pay way more.

How Can Loan Advisor Help You?

By filling out a simple form on our website, you can get quotes from the best licensed lenders in Changi Airport. We assure you that finding the right moneylender will become easier and more time-saving. Depending on the moneylender, you can get a quick approval within 1 hour and cash in hand immediately.