Licensed Money Lender
Personal Loan Serangoon Road
The Serangoon Road is known to be where the first Indians in Singapore emigrated. This, eventually, has become the Little India of the city, with its shops and various places of praise and worship. Because the area is filled with Shophouses, you’re assured to get different finds from clothing, gadgets, jewellery, most especially DVDs of Hindu movies made in Bollywood!
Summary of Top Legal Money Lenders of 2022
People can also visit places like Serangoon Sport Centre and the Serangoon Public Library or drop by the Shaw Theatre and dine at Srisun Express and Chomp Chomp Food Centre. Should you have been tight on the budget, you can easily look for a licensed money lender within the area also!
How to Identify a Licensed Money Lender?
Remember that not every lender which offers loans in Serangoon Road is a licensed one. Some could be loan sharks that have predatory lending behaviours. You can determine who is a good moneylender though. Here are some of their characteristics:
- A licensed money lender in Singapore will appear in the Registry of Moneylenders on the Ministry of Law’s website. If the company you are considering is not on the list, then you need to find an alternative creditor.
- Licensed moneylenders adhere to the government rules and regulations concerning lending. That means they don’t aggressively market their services via phone text messages and social media. Neither do they ask people to transfer money in the form of fees before they disburse a loan.
- Licensed moneylenders have physical offices. And they will not agree to give you loans until you go to their places of work for physical verification.
What to Consider When Taking a Loan?
When does it make sense for you to take a loan? Here are the factors to consider when taking a loan:
- The amount you need: The loan amount affects your choice of loan. Private loan lenders Singapore offer different kinds of loans. Some of the loans have high limits while others have low limits. If you want a big loan amount then you must find a loan product that caters fully to your financial needs.
- The interest rates: The rate that your moneylender charges will determine the total debt amount that you end up with. If you have two loans of a similar size but one has a higher interest rate than the other, then expect to pay back more for that high-interest rate loan.
- The loan tenure: The tenure of a loan is the period that you will be given to pay back the loan. The repayment period varies depending on the type of loan. The bigger the loan amount, the longer your repayment period will be. So, you need to ensure the loan product you want to apply for offers a reasonable length of time for you to pay off your debt. Otherwise, you may fail to pay off what you owe and then get into legal trouble.
How Can Loan Advisor Help You?
Loan Advisor is designed and primarily created to help borrowers to have their future deals easier to obtain which is made possible by an online comparison tool. From the website, people can easily find the most ideal loans available with updated information along with fair reviews. There, loans offered out in the market are compared only for your convenience.
Remember that Loan Advisor picks the best licensed or legal money lender in Singapore based on 3 criteria:
-
Licensed Money Lender in Singapore
Make sure they are applying for a legal or licensed money lender in Singapore, to learn if it follows the guidelines made by the Ministry of Law list to assure the lending is secured and transparent.
-
Customer Review
Check reviews from both experts and the actual customers to ensure the institutions people are checking offer or provide quality service.
-
The Best Rate in Town
Compare rates, fees, and other features from other licensed moneylenders within the area.
To avail and get upto three free quotes from the best licensed money lenders in Serangoon Road, feel free to fill out the form.
