Clementi New Town is known as Singapore’s far-flung region. Over the recent years, its economy has remarkably improved because of its major redevelopment. With beautiful places to explore, especially within District 5, there’s no doubt that this place has so much to offer.
Summary of Top Legal Money Lenders of 2022
GM Creditz PTE Ltd. is a company that offers monthly loans, foreigner loans, business loans, payday loans, and personal loans in City Hall, Singapore. The licensed moneylender charges no hidden fees, and offers flexible repayment plans and 30-minute preliminary loan approval process for online applicants.
111 North Bridge Road #01-41, Peninsula Plaza, Singapore 179098
365 Credit Solutions Pte Ltd offers different types of loans including personal loan, payday loan, foreigner loan, and business loan. They have competitive rates of up to 1 percent per month with loans processed within one hour.
14, Scotts Road, #03-64, Far East Plaza, Singapore 228213
Fortune Credit Pte Ltd is a licensed moneylending company with branches in Bugis, and Bras Basah, Singapore. It offers personal loans, business loans, foreigner loans, wedding loans, renovation loans, payday loans etc. The moneylender provides free consultation and quotes and low interest rates from 1% to 4%. It also offers unsecured loans and flexible repayment options.
470 North Bridge Road #02-01A Bugis Cube Singapore 188735
A1 Credit SG Pte Ltd offers personal loans, foreigner loans, business loans, payday loans in Havelock II, Singapore. They offer loans for Singaporeans whose minimum monthly income is $1,500 and for foreigners whose minimum monthly income is $2,000.
2 Havelock Road #02-08 Havelock II Singapore 059763
Since 2007, Bugis Credit Pte Ltd is a licensed money lending company that offers personal loan, payday loan, business loan, and foreigner loan in Bugis Cube, Singapore. Those with a minimum income SGD 2,000 can avail of their personal loan solutions.
470 North Bridge Road #02-12 Bugis Cube Singapore 188735
Raffles credit is a company running in Singapore since 2011. They provide personal, business, payday and foreigner loan. They approve loans as fast as in 1 hour, subject to approval. They charge up to 4% of the rate of interest on any loan provided.
17A Circular Road Singapore 049373
This interesting place is packed with commercial buildings and modern amenities. It is home to reputable schools, shopping malls, and fancy restaurants.
Despite being a well-developed city, Clementi New Town also has a dark side unknown to many. Unlicensed moneylenders or more commonly known as loan sharks, prey on vulnerable victims by offering fast and easy loans, but with sky-high interest rates. If compared to established legal rates, these illegal lenders are charging more.
How to Identify a Licensed Money Lender?
- They offer loans via SMS, flyers, WhatsApp, and emails
Licensed money lender personal loan Clementi New Town will provide you with a comprehensive way of taking out a loan.
Unlicensed moneylenders do the opposite. They use non-confrontational tactics such as emails, flyers, SMS, cold calls, social media, and phone applications to invite new borrowers and harass existing borrowers.
If you ever find yourself being added in group chats by unknown numbers and you keep on receiving advertisements about money lending services, you can report the number as spam as it violates advertising rules.
One of the key differences between licensed and unlicensed moneylenders is the former uses consumer directories or their websites to advertise their service.
- Higher interest rates
They are called loan sharks because of their outrageous interest rates and hidden fees. Since their funds are obtained from unidentified sources, they will allow borrowers to get large amounts of money. However, you need to repay the loan in a short period of time with a skyrocket interest rate.
- Requires loan processing fee before approval
When you’re asked for a processing fee before approving your loan, this is already considered a red flag. More often than not, these loan sharks require mandatory processing fees for borrowers as collateral for having bad credit. Borrowers who don’t understand its implications will fall victim to these tactics.
- No contract
A loan contract with clear terms and conditions is a surefire sign that you are dealing with a licensed moneylender. Stay away from lenders with a blank or incomplete contract. Cancel your application immediately, especially if they do not explain the terms to you.
You may view a complete list of licensed moneylenders in Singapore here.
Factors to Consider When Taking a Loan
- Repayment Term
- Credit Score
- Interest Rates
- Financial Situation
- Debt-to-Income Ratio
- Liquid Assets
- Value of your Collateral
- Type of Loan
How Moneylender Review Can Help You?
If searching for the best licensed money lender personal loan Clementi New Town is quite a challenge, Moneylender Review will end your dilemma. They will check the top licensed moneylender and recommend the suitable option for your needs so you can make an informed decision.
It is crucial to take a look at all aspects involved in taking a loan so you will not end up becoming a hapless victim of loan sharks. Doing the due diligence involves analyzing the pros and cons and acquiring all the necessary information. Let MoneylenderReview help you find the best, free of charge, from a list of the best moneylender Singapore. Simply fill up our online form and get FREE quotes from us today!
- Beach Road
- Boat Quay
- Bukit Merah
- Bukit Timah
- City Hall
- Clarke Quay
- Holland Village
- Little India
- Raffles Place
- Paya Lebar
- River Valley
- Potong Pasir
- Serangoon Road
- Tanjong Pagar
- Telok Blangah
- Toa Payoh