Telok Blangah might seem like a “sleepy” neighbourhood, but it’s one of the best locations to have fun and spend a weekend getaway.
Located in the central part of Singapore, this quiet residential enclave is home to several landmarks that you can visit and explore in your spare time. These scenic spots include Telok Blangah Hill Park, Mount Faber, Henderson Waves, and Fort Siloso.
The enjoyable activities you’ll find in this small part of Singapore make it easy to overspend. Just in case that you do spend much more than you intend, fast cash loans will keep your vacation going and have you worry about the finances later.
But, make sure you’re working with a legitimate fast cash loan provider.
How Can You Get Legitimate Fast Cash Loans?
1. Avoid Loan Sharks
The Registry of Moneylenders made microlending an official business, birthing the licensed money lender industry. Today, you’ll find all licensed lenders in the Registry’s list. These are fully compliant, legal, and dependable companies.
Therefore, if a lender who asked you to borrow cash at unbelievably low-interest rates isn’t on this list, they’re most likely a loan shark that you’ll have to avoid at all costs.
2. Prepare All Necessary Documents
Licensed money lenders use your eligibility to provide you with personalized financial services. Here is a list of the common eligibility and requirements they will ask you to fulfil:
Eligibility
- At Least 21 Years Old
- Minimum Salary of SGD2,000 for Singaporean Locals & PRs
- Minimum Salary of SGD3,000 for Foreigners Working in Singapore
Requirements
Singaporeans/PRs
- Identity Card
- Proof of residence (utility bill, a letter addressed to you, and or tenancy agreement)
- Proof of employment
- Recent 3 months payslip
- SingPass
Foreigners
- Passport
- Work permit / S-Pass / Employment pass
- Proof of residence (utility bill or tenancy agreement)
- Proof of employment
- Recent 3 months payslip
- Proof of income
3. Provide Collateral Where Possible
In case your income stream isn’t stable because of certain occupational hazards, your lender might ask you to provide collateral as a safeguard. Make sure you can prepare collateral when possible to accommodate their request.
Now that you know the basics of borrowing from licensed money lenders, why use them instead of banks, which are readily accessible online and offline?
Why Use Licensed Money Lenders Instead of Banks?
1. Reliable and Personalized Service
Licensed money lenders are fully personalized services, meaning representatives will take care of you and help you fully understand your loan terms and conditions. You can be sure your hand is held throughout the entire process that even first-timers wouldn’t be confused by its terms.
2. Fully-Regulated Activities
All licensed money lending activities have full regulation and supervision from the Registry of Moneylenders.
Any borrower who has encountered poor service has recourse that can de-license and revoke the reapplication of lenders who provide poor services.
3. No Credit Score Needed
You won’t need high credit scores to become qualified for a licensed money lender personal loan. Your income and job stability are the main support of your loan application.
4. Quick Payouts
Licensed money lenders pay out your loans on the same day that you applied. You can receive your loan after approval by heading straight to one of their branches.
Get Loans From The Best Licensed Money Lender in Singapore Today
365 Credit Solutions is the most dependable licensed money lender in Singapore, with decades of experience in providing high-quality loans for many purposes. Check out Personal Loan Telok Blangah today and they will provide you with the loans that you need! Contact us today at info@365credit.com.sg to learn more about everything that we can do for you.
