Eunos, alternatively referred to as Geylang East, is a subzone in central Singapore, in the town of Geylang. Eunos is renowned for its vast number of hawker stalls, of variance kinds, including some famous hawker stalls who supply local favorites like hokkien mee and soy chicken rice. Some of these stalls have been around since the 1960s.

Summary of Top Legal Money Lenders of 2021

If ever you find yourself in a financial predicament, do not fret because you could easily acquire assistance from licensed moneylenders to ease your financial worries.

How to Identify a Licensed Money Lender?

Where money is required, loan sharks are never too far behind. That is why it is crucial for you to be able to tell the difference between a licensed lender and a loan shark who will literally leave you worse off than before. Here are some characteristics of a licensed moneylender:

  • Licensed moneylenders will always require you to sign a contract. This contract will clearly stipulate the terms of your agreement in a manner that can be deciphered by an average person. If your lender does not offer you a contract to sign, you should perhaps find an alternative lender.
  • A licensed money lender will not charge interest rates that exceed the market interest rate. Prior to agreeing to an interest rate, you should educate yourself on the market interest rate to ensure that you are able to identify when you are dealing with a loan shark in disguise.
  • A distinctive characteristic. A licensed moneylender should not possess is the use of threats and abusive language to coerce you into signing a contract containing adverse terms.

What to Consider When Taking a Loan?

Before committing to something as binding as a loan contract, there a few factors to consider, such as:

  • Do you meet the minimum requirements to qualify for a personal loan? Ask yourself the following questions and if the answer to all these questions is not yes, then you, unfortunately, do not qualify for a personal loan: Are you above the age of 18? Do you have a regular stream of income? Are you a resident of the nation or possess a valid work pass? Do you have accessible details to your present financial position?
  • What do you intend on doing with the personal loan? There are a great number of different personal loans which you can choose but the finer details of each loan differ. Knowing what you intend on doing with the personal loan is absolutely vital in knowing which personal loan to choose. For example, if you plan on purchasing a car with the loan amount, you should opt for a car loan instead of an unsecured loan because of the lower interest rates.
  • What are the costs incurred when acquiring a personal loan? Different loans result in the incurrence of different costs. Such is true even for different types of personal loans. Some of the more common costs are: a late repayment fee of no more than $60 a month and an approval fee of no more than 10% of the principal amount.

How Moneylender Review Can Help You?

You can easily be overwhelmed by the amount of research you could be required to do before being able to take out a loan. Even then, there is no guarantee that your lender is not some loan shark mastermind, making their work look legit.

That is why we have made it our mission to help you find the best legal money lender in Eunos, free of charge. Simply fill up our online form and get FREE quotes from us today!

List of Money Lenders in Eunos