Licensed Money Lender Personal Loan Yio Chu Kang
If it’s your first time, many Singaporeans highly recommend Yio Chu Kang because of its tourist-friendly destinations in the country’s center. You even get the Kallang River’s best view and head straight to Ang Mo Kio Town Garden for healthy walks.
If it’s not nature, then the illustrious and aesthetically-appealing coffee shops and malls are a well-deserved urban break for your hikes. Just make sure you don’t run out of cash while going around. In case you do lack cash, you can always count on licensed moneylenders for immediate cash advances.
How Do You Know If You’re Working With a Licensed Money Lender?
It’s easy to fall prey to “ah longs,” unscrupulous loan sharks who keep changing their terms and conditions while charging a high penalty and interest fee. Singapore’s government oversees all licensed moneylender activities, and all of them have the following.
Part of The Registry of Moneylenders
The Ministry of Law oversees all moneylender activities of every lender they include in the Registry of Moneylenders. If you’re unsure about your prospect lender, you will find the Registry a handy tool while you’re walking on the go.
Illicit lenders will call, text, or use social media chat to show their offers. All licensed moneylenders cannot advertise and do outreach — it’s the customer who needs to find out more about them.
Has Their Respective License Number
Each dependable Singapore licensed moneylender has a respective license number. Virtually every moneylender website displays their license proudly along with other accolades they have.
If your chosen lender does not or cannot produce their license number for you, don’t bother working with them. It’s highly likely they’re loan sharks stalking on needful Singaporeans and foreigners.
Excellent Reviews From Dependable Loan Comparison Websites
Things to Think About Before Applying For a Loan
1. Eligibility and Requirements
All licensed moneylenders will ask for documentation verifying your age, address, and employment stability. Additionally, you need to be at least 18 years of age, earning S $1,500 or higher for Singaporeans, and S $2,000 and above for foreign workers.
2. Stable Income
You’re enticed by the quick and convenient lending service you’re about to use. However, if you don’t keep your income in check, you can quickly and unexpectedly get into deep debt. If your current expenses go beyond 40-50% of your income, think twice before applying for a loan.
3. Proximity With Nearest Branch
It’s easier to apply for a loan with a lender that’s near to your flat or current location. This allows you to bring all your documentation quickly and get your loan within the same day.
Why Choose 365 Credit Solutions?
We have provided high-quality credit solutions for borrowers across Singapore for ten years. Additionally, our friendly staff will never fail to help you find the perfect loan and walk you through the entire process easier.
Contact us today at 6222 5500 or visit our website to learn more about everything that we can do for you!
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