Licensed Money Lender
Personal Loan Commonwealth
Considered as one of the most treasured urban getaways of Singapore. Commonwealth offers a diversity of sporting, dining, and recreational activities. It is full of restaurants, bars and cafes along the beaches to relax while sipping a cocktail. It is a perfect tourist location where you can feast on local favourites like satay and barbecued chicken wings right on the beach.
Summary of Top Legal Money Lenders of 2022
Experiencing all these might require you to stretch your budget a little. If you think you are fit to get a loan, there are reliable moneylenders in Commonwealth ready to give you financial assistance. Be careful not to transact with loan sharks though.
How to Identify a Licensed Money Lender?
If you end up taking a loan from a loan shark, they can become your worst nightmare and the law will not protect you. You must identify the best money lender in Singapore and take a loan only from them. Here are a few indicators to find out if a lender is legal or not:
- A legal money lender will meet you face-to-face. They can’t process all the requirements virtually. Legitimate moneylenders have physical offices listed in the Registry of Moneylenders.
- A professional lender will ask you for the credit history. Having bad credit does not mean that you cannot get a loan, but it might impact other areas like getting approval of loan amounts.
- You will be asked to provide a certificate of identity and payslips/evidence of revenue for the last three months.
Factors to Consider When Taking a Loan
- Objective/Purpose of Loan: Evaluate the reason for taking a loan. How necessary is it and are you in a situation to take a monthly credit? If it is necessary and affordable, you may proceed with the loan.
- Credit Rating: How good or bad is your credit score? If you are having many loans from lenders and banks, you are likely to have low credit ratings. It is better to clear those debts to avoid financial instability.
- Borrower’s Obligation: A loan comes along with a legal contract; it’s your responsibility to understand each item. It must be within the limits of your income, and you must know about the fees and any penalties involved.
- Secured or Unsecured Loan: Which type of loan can you afford? Do you have any collateral against the loan? A secured loan has a lesser interest rate than an unsecured loan.
How Can Loan Advisor Help You?
We at Loan Advisor gives you the option to compare between the best licensed lenders in Commonwealth. You can select the lender with the best loan amount, lowest interest rate, and tenure according to your choice. We attempt that you get quick approval on the loans and get cash instantly.
To get free quotes, all you need to do is to fill out this form, you can choose the best lender as per your requirements patiently and arrange for an appointment for paper-work.
