If you find yourself in a tough financial situation and is in desperate need of immediate cash then the best option you have is to contact a licensed money lender in Singapore.
No matter if you are a foreigner or a local, you need to follow certain easy tips and find a registered moneylender in the city who would be offering customized loan solutions for you.
Below are the following tips for choosing the best licensed moneylender in Singapore.
- Before you choose the moneylender you need to ensure that he is a dependable one so make sure to check for the license. You can visit the Ministry of Law website in Singapore and find out of the organization loaning you the money is licensed. If needed you can go through the customer’s reviews written by the borrowers and comprehend of their services are truly trustworthy.
- The next step is to check the process of application of the company offering the loan. Most of the companies offer loan with either a simple or a complicated loan application. In most cases they will be asking you to provide info about the status of your employment and residential details. You need to choose the agency which is offering the most uncomplicated process for approval and repayment.
- Make sure to check the terms and conditions along with the flexibility in order to ensure smooth repayment of the loan. Study the documents carefully and find out if there are any hidden clauses and fees for repayment.
- Now you need to ensure if that you apply for the loan from a licensed moneylender in Singapore who would offer you the fastest response. The moneylender who responds within one or two days of application should be preferred over the rest.
- Finally you need to know about at least one landline number of the organization. Any licensed company would be operating from one registered landline for interacting with their clients. Try to get a contract where all the clauses are written in your language and read them carefully before making the final decision.
Advantages of borrowing money from a registered money lender in Singapore:
There are many scam artists who build a website and claim to be a licensed moneylender. The license is the only proof that the organization you are dealing with is everything it claims to be. Someone on whom you are depending for your financial security needs to be stable. Before obtaining the license from the government, he needs to fill out numerous documents. He would also be required to prove that he doesn’t have a criminal record. The license of the moneylender is the guarantee of the borrower that he is dealing with an organization which deserves to be trusted with all his financial information.
Related Read: The Benefits Of Licensed Moneylenders
While borrowing money in Singapore one needs to be sure that his rights are fully protected. This goes for both the natives as well as the visitors. Moreover when you borrow money from an organization which has been in business for quite some years and made a name for them, then it would sure add up to your much needed peace of mind.