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We all need to borrow a little bit of money from time to time. But being a foreigner in Singapore can sometimes mean that standard personal loans aimed at Singaporean citizens just don’t cut it – or are out of
The total debt servicing ratio or TDSR is the maximum threshold for property loans. Usually, you are only allowed to dedicate up to 60 percent of your gross monthly income to debt repayments. And you have to remember that the
Borrowing money has become an important industry in Singapore. It has helped thousands of people survive financial crises and difficulties. But, the business of moneylending is not free of problems. There are loan sharks or “Ah Long” which are illegal
If you’re looking for a personal loan in Singapore, chances are you’ll need to choose between two key loan types: secured loans or unsecured loans. The main difference between the two is that secured loans, like mortgages, home loans and
A bad credit score can greatly negatively affect your loan-taking transactions. Some financial institutions, such as banks, will not approve your loan application with a credit score that is less than optimal. However, it is not impossible to improve bad
Singapore has one of the most vigorous financial industries in the region. It is no surprise that the country abounds with money lenders that offer various financial and loan services. However, not all of the hundreds of licensed money lenders
At MoneylenderReview.com, we are dedicated to offering you reliable customer reviews and feedback on reliable licensed money lenders in Singapore as well as the comparisons of the personal loan interest rate provided in the market. The moneylenders listed in this directory are licensed by Registry of Moneylenders, and they have to comply with the Moneylenders Act. The best money lender bitcoin blender reviews can be found on this website making it easier for you when you are choosing the best money lender in Singapore for your needs.
MoneylenderReview.com covers an up to date list of Singapore’s money lenders with the lowest interest loans as well as genuine feedback and reviews from the actual borrowers. It is advisable for borrowers to note that the maximum interest a moneylender can charge in each month is 4%. It is also vital as a borrower to remember that when you fail to make your payments on time, the maximum late interest rates you will be charged is 4% a month for each month you make late repayments. Also, ensure to check that the interest charged is computed based on the remaining principal amount.
A List Of Charges That You Can Expect To Be Charged By A Money Lender
- A fee charged each month of late repayment, and it does not exceed $60
- A fee of not more than 10% of the principal amount once the loan has been approved
- The cumulative charges on loan include upfront administrative fees, late interests, interests on the loan and late fees. These fees should however not exceed the amounts equivalent to the loan you will have applied for from a licensed money lender.
A Non-Biased Directory For Your Financial Needs
As a non-biased directory, we aim at bridging the gap between moneylenders and borrowers. The directory has the most up to date reputable, accredited money lenders obtained through the current borrowers’ ratings and reviews.
The reviews and ratings on the online moneylender will be shown on this directory. It will provide you with the most appropriate base for you to make an informed choice. There being many personal loan lenders in the market, we aim to offer you a guide and help you find answers to your urgent financial obligation.
The private money lending service providers have the most competitive rates, reliable services and will help you access loans to help meet your financial needs. All this information is based on borrower’s feedback and reviews.
Dedication To Serve You
Our top priority, commitment, and goal are to offer help to many borrowers as they seek financial support. The list provided on our website meets the terms and regulations laid down by the Moneylenders Rules.
In following the set rules and regulations, we ensure that the potential borrowers get the type of loan that they desire to cater to their particular needs. This way you as a borrower will get the best possible package that is tailored to your capacity to repay and that you get an ideal time period to allow for on-time payments. The information we offer through our site will guide you when you are in search of low-interest rate personal loans as well as help you make your cash loan fast and easy.
Our services are aimed at helping potential borrowers in finding the most suitable loan provider for you. The lenders we help you connect with will be able to offer you the loan types you need to meet your urgent financial obligation. After you have submitted your loan application, your loan application details are then taken to the cooperating direct money lender. The money lender will then provide the potential borrower with a loan agreement. The loan contract will have the full outline of the accurate fees, rates of interest, terms, and regulations related. The given loan provision will be based on the information you will have provided during the loan application process.
Be Wary Of Falling Into Financial Traps
Borrowers need to be able to make a differentiation between legal and illegal moneylenders in Singapore. Some things to watch out for are when a lender does online bank transfers; this indicates a probable illegal lender. Legal moneylenders avoid sending SMS and telemarketing services to potential borrowers.
Be sure to do thorough due diligence before choosing a lender in Singapore. Also, avoid giving your information regarding your Singapore identity details through SMS and over the phone.
Ensure that the moneylender you choose has a registered landline they use in their office. Visit the lender’s office to submit your income documentation and all the other needed paperwork.
One crucial thing a potential borrower needs to adhere to is to read and ensure they fully understand the loan agreement before putting their signature. This is so since the loan contract is binding and once signed will be contested in the court of law should you fail to make payments on the loan taken.
Assist You With Informed Choices
The information we are offering on our website is about the financial institutions available in Singapore. These institutions provide the short-term type of business loans, cash credit loans and services and personal loans that address all your financial concerns.
MoneylenderReview.com reliable and resourceful directory listing will give the information and assistance that all potential borrowers are looking for. With the necessary and provided information, you as a borrower will be able to find and consult Singapore legal lenders that are of good reputation.
Our dedication will steer you to the right source in the shortest amount of time and the least effort so you can get the right loan you need with the suitable moneylender.
Alternatively, you may want to check out Filife: Guide on Moneylenders in Singapore. Filife have very detailed reviews on licensed moneylenders found in Singapore. You may want to read them before applying for a loan.