The concept of taking a loan in Singapore is rather straightforward. It simply means that you are borrowing a certain sum of money from a lender with specific terms and conditions outlined in a contractual agreement. Loans are generally divided into 2 broad categories – secured and unsecured.
If you reside in Singapore and you find yourself in a financial crisis, you may end up taking a personal loan from either a bank or a private moneylender. Even though the application process for both avenues is convenient, you need to evaluate which option is suitable in your situation. It is difficult and confusing to decide on the most viable credit option. If you make the wrong choice, it could land you in further debt in the long run. Deciding which way to go can be tough. Read on to find out how to obtain the best personal loan in Singapore, and then make an informed decision.
More Singaporeans are turning to licensed moneylenders now as it’s easier to get a loan from them than from a bank -the reason being that a bank loan application is a long, tedious, and time-consuming process as compared to getting a loan from a licensed moneylender. If you want to know more about the differences between private money lenders and banks, check out this article here. This has led to the surge in the number of moneylenders popping up in Singapore over recent years. Even though the moneylending industry has been evolving, there is a fine line differentiating the licensed and unlicensed moneylenders. Here are some crucial factors that you must consider before taking a loan.
It is not surprising to find many people taking a sceptical view on a Singapore personal loan or a payday loan from moneylenders. With fake rumours circling around moneylenders and myths about Singapore personal loan rates skyrocketing overnight, these are enough reasons to stay away from such lenders.
Chinatown is located in the heart of the city surrounded by its rich cultural and historic places. It is home to several Hindu and Chinese temples, old shophouses, colonial and heritage buildings. Food lovers must certainly visit this place as there are endless dining options available in the area.
A cash loan is a short-term personal loan with a fixed interest rate and repayment period. It is usually unsecured, which means that it is lower risk as the borrower would not need to put up collateral in order to apply for one.
When looking for a cash loan in Singapore, we all know the basics of finding low-interest rates and a reliable licensed moneylender who can meet your financial needs. What else should you look out for? In this article, we will share 4 things every borrower should know to find the best cash loan in Singapore.
Address: 1 Park Road, People’s Park Complex (Chinatown)
#01-21 (5 mins walk from Chinatown MRT, Exit C) Singapore 059108
Monday – Saturday 11am to 7.45pm
Sunday 11am to 5pm
Closed on Public Holidays
Lic. No. 51/2023
Reg no. 201901887G
