Newton is a town situated in the central part of Singapore. It’s home to mouth-watering and colorful dishes. It’s a great place if you’re looking to satisfy your taste buds.

Perhaps the biggest attraction in Newton is the circus filled with an assortment of thrilling acts and performances.

Summary of Top Legal Money Lenders of 2022

What’s more, if you exhaust all your finds, you’ll find that the town of Newton has countless moneylenders ready to give you a personal loan.

What are the characteristics of Licensed Moneylender?

It’s important to know that not every moneylender is automatically a licensed moneylender. This is absolutely crucial because unlicensed lenders, more commonly known as loan sharks, are companies or individuals you need to avoid when looking to get a personal loan. The following characteristics are typical of a licensed moneylender:

  • They state terms clearly on a written contract: a licensed moneylender will be transparent in its way of doing business. All the terms of contracts will be stated in an easy-to-understand manner and you will never be asked to agree to terms that haven’t been written anywhere.
  • They are part of the Registry of Moneylenders: because it’s required by the legislation of Singapore, all licensed moneylenders will be listed on the Registry. This serves as an indication that they are authorised to conduct business lawfully. You can visit the Ministry of Law website to check if the lending company you’re working with is registered.
  • Brick and mortar/ physical office: a physical office makes it a lot easier and more convenient to deal with a particular moneylender and it’s also lawful, since the government requires that all licensed lenders conduct business from their physical office as registered on their business license.

Factors to Think About Before you Take a Loan

A loan is a convenient and timely way to fund your personal endeavors, but it’s also a serious decision that requires lots of thought and consideration. The following are things to keep in mind when you’re thinking of getting a personal loan:

  • How long will it take you to repay the amount borrowed: Regardless of how much you need, it’s never a good idea to take a loan if you can’t afford to make regular payments during the repayment period. That said, opt for an amount that you’d be able to keep up with without having to potentially deal with interest on late payments.
  • Are you comfortable with additional fees: Fees have a way of making your repayment amount more expensive than you initially thought. You can expect to pay fees for administration and late fees if you are late for your payment. Add all of them to your repayment amount to determine if it still makes sense to get a loan.
  • The rates of interest: The interest rate should be taken into consideration because it determines the total amount of money you will pay back. The higher the interest rate, the greater the amount you’re going to have to pay back.

How Can We Help?

Finding the ideal licensed money lender can be daunting and it requires lots of time and effort, given all the factors that have to be given thought to. We can help though.

MoneylenderReview helps you find the best quotes, free of charge, from a list of reputable licensed money lender in Singapore. Simply fill up our online form and get FREE quotes from us today!

List of Money Lenders in Newton

No licensed money lenders found in the area