Licensed Money Lender Personal Loan Tanglin
The name Tanglin is believed to come from “Tang Leng”, a term that once referred to William Napier’s house. It likely came from the area’s Chinese name, twa tang leng, which translates to “great east hill peaks”.
Indeed, the place is known for its hills like Leonie, Emerald, Claymore, and Mount Elizabeth. If you happen to visit Tanglin, definitely check out the Singapore Botanic Gardens and the Museum of Ice Cream Singapore.
Find yourself facing a cash-related emergency? No need to panic. In this short article, you’ll learn all the basics about getting a loan from a trusted moneylender.
How to identify a licensed money lender?
- Refer to the Ministry of Law’s list of licensed moneylenders: The easiest way to know if a moneylender is licensed or not is to check if they’re on the Ministry of Law’s list. This list is updated regularly so you can be sure that the information is accurate.
- Read our guide for extra precaution: Our in-depth guide contains valuable information about how licensed moneylenders should operate. This will give you added protection if you ever come across moneylenders that are acting suspiciously.
- Verify the interest rates: According to the Ministry of Law, the interest rates for loans should only be up to 4%.
- Ask if they have a contract: Licensed moneylenders are mandated by law to provide a contract to their borrowers. Contracts must include the interest rate, repayment period, late payment fees, and other information that is relevant to the loan plan.
- Learn about their office address: Finally, licensed moneylenders will always have a legitimate office address. If they have no physical address that you can go to, consider that a red flag.
Factors to consider when taking a loan
Aside from the moneylender’s license, here are some other things you need to take note of before taking a loan:
- Loan amount: Know how much you need so you can filter your loan options.
- Loan type: Choosing a loan type will mainly be based on your loan amount and current financial situation.
- Repayment period: Make sure that you choose a loan that allows you to repay within a realistic time frame.
- Terms & conditions: Go through every term and condition in the contract, and verify if it’s within legal bounds. If so, then it’s safe to go through with your loan application.
How can 365 Credit Solutions help you?
As the name of our business suggests, we are ready to provide financial solutions to our clients for all 365 days of the year.
We don’t only offer different loans so that you can pick one based on your ability to pay back. We ensure that you actually understand every step of the process.
This will allow you to clearly see what the best path is based on what you’re dealing with. And we’re here to back you up with your choice.
Contact us at 6222 5500 or [email protected] to get a loan with a moneylender that you can trust!
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