Licensed Money Lender Personal Loan Katong
Rich in Penerakan culture, and home to various cuisines, there is no shortage of good food to try and places to explore in Katong Singapore. From Vietnamese to European dishes, get ready for a heavenly experience when all of the flavours and textures dance on your palate.
Definitely not your typical coffee shop, C Cafe will take you to another caffeine experience. Owned by a magician, this hub allows you to take a sip on your freshly brewed coffee while getting entertained by his magical card tricks.
Stressed out? You deserve a break. Make sure lack of cash won’t get in the way of fun! A personal loan might be the one you need.
How to Know If the Moneylender is Licensed?
Before taking out a loan, make sure you know how to spot a licensed moneylender. Here are the things to look out for:
- Listed in the Registry of the Moneylenders: Thanks to the Ministry of Law Singapore, borrowers are now more confident in dealing with moneylenders. To verify if the moneylender is registered, visit the Ministry of Law’s site.
- Has a physical office: Before signing any contract, make sure you have visited their official business place. It should be accessible to the public and their signage must have their business name along with “Licensed Moneylender” written in English.
- Discloses everything about the contract: Unlike loan sharks, licensed moneylenders won’t leave their borrowers confused and clueless about the terms and conditions of the loan contract.
- Capped interest rate: All moneylenders are mandated by the Moneylenders Act to charge their borrowers an interest rate of 4% per month. No licensed moneylender can go beyond that.
What are the factors to consider when taking a loan?
Now that you know how to spot a legitimate moneylender, here are factors to consider when taking a loan:
- Explore alternatives: Taking out a loan is a commitment and a serious responsibility. Make sure you have checked some alternatives, such as various financial schemes offered by the government.
- Make sure you are capable of repaying the loan: To avoid future hassles, make sure you are disciplined enough to stick with the agreed repayment scheme. Borrow only what you need and you can pay.
- Compare options: To make sure you are choosing the best moneylender, compare all the licensed moneylenders near you and choose the one that offers a loan package that is specific to your needs.
How Can 365 Credit Solutions Help You?
Our company is dedicated to helping out borrowers to find a better solution to their financial woes. Our mission is to give you excellent customer service by making our procedures faster and simpler. Furthermore, our loan officers are all well-trained, so they can give you in-depth discussions and consultations to help you decide better.
Are you ready to explore Katong on your day off? Make sure you are transacting with a licensed moneylender. 365 Credit Solutions is a reliable and trusted money lender in Singapore, that offers loan plans specific to your needs! Talk to us today!
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