At MoneylenderReview.com, we are dedicated to offering you reliable customer reviews and feedback of the authorized moneylenders available in Singapore as well as the comparisons of the personal loans being offered in the market. The moneylending service providers listed at this time are under license with the Singaporean Moneylenders Acts. These providers also comply with the set regulations by the Registry of Moneylenders. The Moneylender Review is from all moneylenders and is put all in one place. This will make it easy for you when you are choosing the loan option that is best for your needs.
MoneylenderReview.com covers an up to date list of Singapore’s moneylenders with the lowest interest loans as well as genuine feedback and moneylender 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%. This set restriction applies whether you have taken an unsecured or a secured loan. It is also important 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 Moneylender
- 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
- Legal fees ordered by a court of law when a moneylender has made a successful claim for the recovery of the loan issued to you.
The cumulative charges applied by a moneylender on a 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, MoneylenderReview.com aim at bridging the gap between moneylenders and borrowers. The directory has the most up to date reputable accredited Moneylenders obtained through the current borrowers’ ratings and reviews.
The reviews and ratings will give the featured moneylender review on our website. It will provide you with the most appropriate base for you to make an informed choice. There being many moneylenders in the market, it is our aim to offer you a guide and help you find answers to your urgent financial obligation.
The listed moneylending 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, dedication, and goal are to offer help to many borrowers as they seek financial support. The list offered on our website meets the terms and regulations lay down by the Singaporean money lending Act.
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 perfect money lender, thus we are not a direct money lender. 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 cooperating 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 a thorough due diligence before choosing a lender in Singaporean market. Also, avoid giving your information regarding your Singaporean 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 licensed moneylender’s office to submit your income documentation and all the other needed paperwork.
One very important 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 offer 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 given information, you as a borrower will be able to find and consult Singaporean legal moneylenders that are of good reputation.
Our dedication will steer you to the right source in the shortest amount of time and in the least effort so you can get the right loan you need with the suitable moneylender.
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