Macpherson is an area in the Geylang town of Singapore. It’s quite small but it’s filled with several picturesque sights such as the Gardens by the Bay and Sentosa beach.

Summary of Top Legal Money Lenders of 2021

What’s interesting about this place is that you’d never run out of things to do and there are always spots and corners to explore.

If you find yourself running out of money to carry on with your daily life, there are various licensed moneylenders equipped to meet your needs.

How to Identify a Licensed Moneylender

You have to know what makes a licensed moneylender in order to protect yourself from loan sharks and their unlawful and sometimes aggressive practices. These signs will help you spot licensed moneylenders:

  • Are there Advertisements Lawful? The Ministry of Law has laid out rules and regulations with regards to advertisements run by moneylenders. They’re not allowed to place their advertisement just anywhere. They can only place them on their own websites, their own offices or business directories.
  • Do they Have Appropriate Contracts? A lender who asks you to accept terms that are not on a contract is unlawful and probably not registered. You should be asked to sign on a well-presented and drawn contract under professional and lawful circumstances.
  • They should be on the list of licensed lenders: The Ministry of Law makes it a lot easier for the population to identify regulated lenders. The list they publish on their website contains the names of all lenders that are registered and are authorized to conduct business.

What Should you Consider Before you Take a Loan?

If you’re gonna get a personal loan, be sure to know exactly what you’re getting into, what the terms are and that you’re comfortable with all of them. Think about the following, before taking a loan:

  • Are you Aware of all Fees and Charges: Everything you need to know regarding fees and hidden costs should be clearly written on the company’s policy and if it’s not, you should speak with one of the company’s representatives to gather all the information you need.
  • Can you Afford it: To know if you can afford a loan, tale all the interest rates and fees and look at the monthly installment. If you’re not comfortable paying back that amount monthly, then you can’t afford the loan.
  • What’s your Lender’s Reputation: It’s not enough to determine if a company is a licensed moneylender, you need to also look into their business history and how they’ve treated their precious clients. That will give you a clear indication of whether to do business with them or not.

How Can We Help?

We know how fully packed your schedule is and you most probably don’t have the time to be looking from lender to lender. We lift some weight off your shoulders and we do all the research for you to find the best legal money lender in Singapore for your needs.

Simply fill out our online form and we will contact you with up to three quotes from trusted moneylenders.

List of Money Lenders in MacPherson