Have you ever experienced being in a sudden financial bind because of an unexpected bill or emergency? If you have, you may remember how difficult it is to get the funds you need. You may have had to borrow from your family or friends, loan from a bank or pawn off your prized jewelry to make up the funds you need. Unfortunately, either one of these methods can take time and you may have to pay more than what you borrowed depending on your arrangement with your family, friends, bank or selected pawn shop. Fortunately, you can also borrow funds from moneylenders if you find yourself pressed for cash. You simply have to apply online, submit a few requirements and you can get the funds as fast as 24 hours. However, with the number of moneylenders now online promising they have the best loan offers for anyone who needs funds, which one should you trust? Here are five of the most notable moneylenders in Singapore you can count on for your sudden financial trouble:
Best Rated Licensed Money Lender in Singapore
1. 365 Credit Solutions (https://www.365credit.com.sg/)
Are you looking for a moneylender that is open 7 days a week and offers fast loans? If you are, 365 Credit Solutions may just be the moneylender you need.
This moneylender was founded in 2010 and is one of Singapore’s Outstanding Enterprises for 2016-2017. They promise same day cash loan approvals and every application will be reviewed within an hour of your application. Their rates are also great and only reach up to 47% per annum.
If you wish to apply for a loan through 365 Credit Solutions, you must be 18 years old and have a minimum monthly income of $1500 for locals and permanent residents or $2000 for foreigners. You can then submit your application online or visit their offices directly. Once you discuss your loan application with the moneylender, they will show you every detail of your loan terms and all the fees that will be charged. Repayments can also be discussed and you can select whether you wish to repay via bank transfer, GIRO or cash. They will also review your requirements for verification.
When you are satisfied with your loan terms, you just have to sign their contract and get the cash immediately.
2. GM Creditz (http://www.gmcreditz.com/)
If you are looking for a moneylender with the highest approval rate and nice and affordable repayment terms, you should check out GMCreditz.
Noted as one of the best moneylenders in Singapore by Bizlistings.sg, GM Creditz is open 7 days a week and provides low and flexible loans for anyone in need of funds.
In order to apply, you need to be 18 years old and above and have a minimum monthly salary of $1500 for local residents and permanent residents or $2000 for foreigners. You can either apply through their website or call their hotline number.
Upon application, they will give you an appointment date so they can review your documents, discuss your loan and customize it based on your needs. When you are happy with your loan program, you simply have to sign the contract and get the cash immediately. The contract for every GM Creditz loan is very detailed and lists down all the fees and payments you will need to remember.
3. Bugis Credit (https://www.reliablemoneylender.sg/)
If you are looking for a payday loan in Bugis, BugisCredit should be your number one destination.
Established in 2007, Bugis Credit is one of Singapore’s highly reviewed moneylenders and promises fast loans for Singaporeans and foreigners alike. It is also cited as one of Singapore’s Outstanding Enterprises and one of the top licensed moneylenders in the country.
Their application process is quite simple. You simply have to fill up the online application form, wait for the call of the moneylender’s loan officer after one hour and head on to their office with all your supporting documents.
During your meeting with the moneylender’s loan officer, they will explain the loans and their respective repayment terms to ensure you understand each offering before you choose. They will also answer all the questions you may have about the loans and indicate all the fees and charges you may be charged with once you borrow from them. Your information would also be reviewed during this period and will kept confidential to ensure your details will not be misused by others.
When everything is done, simply sign their contract and get the money afterwards.
4. A1 Credit (https://www.a1credit.sg/)
Want to get the loan within 60 minutes so you can pay your bills or expenses ASAP? You can try applying to A1Credit.
Established in 2009, A1Credit lauds itself as the best moneylending service for urgent loans and it is highly rated by the Singapore Ministry of Law as one of the best moneylenders in the country.
Like other moneylenders, A1 Credit offers a variety of loans depending on your needs and can be customized depending on your requirements and repayment capacity. Each loan they offer also come with very low interest rates. Borrowers should be 18 years old and above and must have a minimum monthly income of $1500 for Singaporean and permanent resident borrowers or $2000 for foreign borrowers.
Borrowers with bad credit history can still apply with A1Credit. However, their situation and repayment capacity will be reviewed before their applications are considered. Those with undischarged bankrupts will not be permitted to borrow.
To apply for a loan, you can visit their offices in Havelock Road, call their hotline or apply online. When they get your application online, they will call after 30 minutes and determine if you are eligible to loan from the moneylender. If you ticked all their requirements, you will be asked to visit their office and speak to one of their loan officers in case you have questions about the loan. The loan officer would also review your documents to ensure everything is in order.
Once you have clarified the details of the loan and its repayment, the loan officer handling your loan application would print out the contract for you to sign it. After you sign, you will be given the money you borrowed immediately. The whole process will only take about 60 minutes or less if everything is ok!
5. Advance Planners Credit (https://www.bestmoneylender.sg/)
Are you close to Orchard and in need of funds? You can check out Advance Planners Credit.
Advance Planners Credit offers the best loan offers for any cash-strapped Singaporean or foreigner no matter when they need funds.
The application process is very simple with this moneylender. You simply have to apply online through their website and wait for an hour before it is approved. Once you get the notice that your loan is approved, you simply have to pass by their head office and collect the loan you requested after a simple verification of your details and documentations.
All information you give this moneylender will be 100% confidential and they will not restrict your loan terms based on data. Their staff will guide you through the process and render financial assistance should you need to adjust your loan terms.
When you find yourself in a financial bind, you do not want to end up borrowing money from a bad money lender that will give you further problems. The top 5 lenders we have cited above are reviewed based on their online reviews and you can be sure they are the best reliable money lenders in Singapore you can find.
But still, you will need to be cautious on your end and below are some tips on things you should take note of…
Things You Should Take Note Of When Choosing A Moneylender
When you require some quick cash to pay medical bills, unexpected vehicle breakdown, or any other unexpected expenses, it’s necessary to find a trustworthy moneylender. Always bear the below pointers in mind as you choose the right money lender:
The Moneylender Reputation
Ensure you look for a Moneylender who has a professional approach in their dealings with their customers. The moneylender you work with needs to have a careful focus on transparency and integrity even as they provide you with the financial assistance you urgently need. Before deciding on a specific moneylender, it’s suggested that you determine the lender’s company reputation among their previous and current clients. You can get this information by reading through reviews and feedback offered online by their clients.
Loan Request and Approval
Choose a Moneylender who is able to offer you efficient, trustworthy, and fast services for all your financial needs. Fast loan processing needs to be another important criterion to look at when choosing a legal money lender. The lending company needs to be able to address your needs correctly and offer you the accurate solution together with fast processing.
A trustworthy moneylender will not carry out extensive background checks and for them to approve your request for a personal loan when you hold a bad credit record. Yet, there are licensed and trustworthy money lending companies available in Singapore that give considerations to those borrowers who have bad credit. They trust that these borrowers are able of improving their credit score when offered the chance. Therefore, ensure you do your research thoroughly and choose lenders who have less strict policies. This you can conclude by browsing through the application requirements and procedures of the particular lender you intend to work with.
The Moneylender Credibility
It’s is advisable for you to pick a moneylender who has a strong lending background and uses a research-backed approach in all their financial products. The best Moneylenders should be able to offer client-oriented services to help meet all their financial needs.
Take time to verify their licenses, for you to be certain that the moneylenders are allowed to operate their lending business legally. Their license needs to be valid and issued by Singapore’s Moneylender Registry. Interviews and online research will help you locate the ideal consultant who will give you pointers to help you make an informed decision before applying for a personal loan.
In addition, you need to choose a legal moneylender company that has been in the business for several years. This is because the duration of time in any business serves to reflect of their good reputation and performance.
Interest Rates
It is important for you to recognize that legal moneylenders provide interests that might differ from one another. It is for this reason that you have to compare interests before making your final decision. Confirm that there are no hidden charges and some other essential details that are pointed out in the loan contract’s fine print prior to signing anything.
Additionally, you need to be cautious of money lenders who offer you very low rates that appear too unbelievable. Always take your time when deciding on the right moneylender for you. Make sure you carry out thorough research prior to making any commitment to a particular company.
Flexible Loan Repayment Plan
You need to discuss with your moneylender the choice of repayment plan as well. This is because it could affect your being able to fully repay the loan. Even then, you might end up coming across more problems after you get a moneylender who will provide you the loan amount you require, but the repayment conditions are sadly non-negotiable.
Opt for a lending institution that takes time to talk with you about every topic that may affect your choice of getting a loan. This could include interest rates, repayment terms, loan amount, as well as other issues related to receiving the ideal loan package.
Loan Services and Products
It’s best to choose a licensed moneylender who is able to give you personalized and best deals as well as rates to match the loan type you are looking for. Once you have reviewed the moneylender’s reputation, credibility, interest rates, and their approval process, you need to take a look at their services and products.
It’s better to go for a money lending institution that will provide you with a range of loan services and products. This is because you will not have to look further each time you need multiple loans from the same moneylender in future. Some of the popular loan packages that most lending companies provide include payday loan, personal loan, unsecured loan, foreigner loan, vacation loan, and debt consolidation just to name but a few.
Without a doubt, money transactions are the most crucial. For that reason, it’s of the highest importance to pick a lending company that endeavors to uphold the integrity and transparency of their key priorities. Overall, do consider the fairness of all services they offer to their clients.