Licensed Money Lender
Personal Loan Newton
The town of Newton is found within the Central Area of the Central Region of Singapore. The Istana, the official residence of the President of Singapore, is located in Newton. Some famous hawker centres like the Newton Food Centre are also found in Newton.
Summary of Top Legal Money Lenders of 2022
Due to its central location, Newton allows an easy commute for professionals working in the city. However, most properties in the area are on the high-end. Thus, the prices of most of the residential spaces are not cheap.
Should a time arise where you find yourself short on cash and are in Newtown, there are reputable moneylenders in the area that may help you.
How to Identify a Licensed Money Lender?
Finding moneylenders may be easy. However, it is advisable to be cautious in dealing with licensed moneylender Singapore. There are loan sharks who have predatory lending behaviours. Falling victim to loan sharks can cause so much trouble. To protect yourself from being a victim, we provide you with the characteristics of a good moneylender. Below are the things you need to know about:
- Are they listed as licensed moneylender by the Ministry of Law of Singapore? The answer to this question may be accessed here. The Ministry of Law regularly updates this list. Thus, always make sure to check if the moneylender you are dealing with is listed here.
- Are they adhering to the rules and regulations on lending? If they are engaged in aggressive marketing of their services via phone messages and social media and are asking for money transfers in the form of fees before they grant a loan, you have to think twice before dealing with them.
- Are they operating in their physical offices? Licensed money lenders usually require you to go to their offices for physical verification before they approve the loan.
Factors to Consider When Taking a Loan
Besides knowing how to identify a licensed moneylender, you also have to know the factors you need to consider when taking a loan. These will help you get a loan that is best for your situations. These factors are:
- Amount needed: This refers to the amount of money you need to loan. This is important because loans offered by moneylenders have different minimum and maximum amounts. Depending on the package, terms and conditions will vary.
- Interest Rates: Interest rates are added to your total loan obligation. The rates also differ depending on the type of loan.
- Loan Tenure: The period for repayment affects the total amount of loan you need to pay. The longer the period, the higher the amount will be. Your willingness to pay the obligation is also a relevant factor.
How Can We Help You?
If you feel like you need help determining which loan is best for you, we are more than willing to assist you. We understand that getting a loan is a serious commitment. Thus, we will provide you with the information you need before getting one.
To receive loan quotes from best licensed lenders in Newton, fill in the form now.
