One of the cities in Singapore that will spoil you for choices when it comes to outdoor activities, historical sites and parks is City Hall. Children and adults alike will be kept entertained and occupied as there are many places to explore. Some of the notable attractions you cannot afford to miss when in City Hall are the Hawker Center, Fort Canning Hill, National Gallery, Water Ski Park, and East Coast Park.

Summary of Top Legal Money Lenders of 2021

However, behind the allure of City Hall lies some dark secrets. While it shows signs of progress, the city is still not spared from loan sharks on the prowl for their next victim. If you are searching for a licensed money lender personal loan City Hall can offer, there are some things you have to keep in mind to avoid getting scammed.

How to Identify a Licensed Money Lender?

  • Terms in the loan agreement
    One of the obvious signs that you are dealing with a licensed moneylender is when you are provided with complete and detailed information about your loan. Everything you need to know about the loan is carefully explained before you sign a contract. If a lender does not provide you essential information that can help you make the right decision, then clearly, you are dealing with a loan shark.
  • Physical office
    A moneylender with a physical address where you can visit anytime runs a legal business. However, if you only perform your transactions online and they do not have an office, this is considered a red flag. It only means that they have shady practices.
  • Detailed application process
    Before your application will be approved by a licensed moneylender, they will have to perform a series of background checks to find out about your ability to repay your loan. A loan shark, on the other hand, will guarantee you fast approval without requiring documents.
  • Transparent fees and charges
    Never trust a lender that offers you the lowest interest only to find out that they have deducted a lot of fees and charges from the principal amount you borrowed. Singapore is strict regarding imposing interest on borrowers. Always check the breakdown of charges and be sure that their interest rate adheres to the maximum amount required by Singapore law.
  • Listed on the website of Ministry of Law
    Always trust your instinct. If you think that a moneylender offers a too-good-to-be-true deal, then you might be doing transactions with a loan shark. If you want to know whether or not you are dealing with a licensed money lender personal loan in City Hall, visiting the Ministry of Law’s website is going to be your best bet.

Factors to Consider When Taking a Loan

  • Repayment term
  • Financial capacity
  • Interest rate
  • Credit history
  • Borrowing amount
  • Purpose of taking a loan
  • Type of loan

How Can Moneylender Review Help You?

You do not have to be a victim of loan sharks because Moneylender Review will help you take a loan in a lawful manner by giving you the information you need. Even first time borrowers will no longer have to worry about unreasonable interest rates because Moneylender Review will dig deeper into each and every lending company to make sure you are choosing the one suitable to your needs.

Conclusion

Never believe loan shark’s false promises. To get access to up to three quotes from the best moneylender near City Hall, all you need is to fill out the online form today!

 

List of Money Lenders in City Hall