Anyone in Singapore does not pass the opportunity to explore Tanglin, the home of the country’s most beautiful orchards, gardens, and museums. Additionally, it’s a foodie’s paradise with the numerous restaurants you’ll find in the area.

Summary of Top Legal Money Lenders of 2022

If you’re in Tanglin and you’re short on cash, you can always count on licensed moneylenders. Don’t spoil your vacation and relaxation opportunities.

Don’t Get Tricked By Loan Sharks

Unfortunately, loan sharks are still present in Singapore’s financial markets. Fortunately, the Ministry of Law has taken action with the Moneylenders Act 2008, which asks legitimate lenders to register and submit to regulation. You won’t get tricked if you use licensed moneylenders with these characteristics.

  • Fully Transparent
    Transparency is critical for licensed moneylenders because the Ministry of Law requires it. Therefore, lenders must always disclose fully accurate information with you at all times. Failing to do so can get them off the licensed moneylender registry.
  • Found in The Registry of Moneylenders
    The Registry of Moneylenders implements, reviews, certifies, and licenses any moneylending business owner who had passed their examination. On the other hand, they can refuse or revoke licenses if the owners have engaged in illegal activity. Choose a lender you can find in the list we’ve linked above.
  • Courteous and Informative Staff
    First-time borrowers are understandably confused with the entire application process. Most helpful, licensed moneylenders will guide you through the steps to apply for a loan. They won’t fill it out for you, but they’ll explain your terms and conditions correctly.
  • Correctly Reaches Out To Customers
    It’s tempting for any customer to use convenient financial services, but it can get addictive and drive them to deep debt. For this reason, licensed moneylenders can only establish an online presence and provide helpful advice. They cannot communicate with prospect customers directly through chat or enticing advertising.

Everything You Should Consider Before Finalizing Your Loan

Always remember: any financing, even a six-month-salary personal loan, is a serious responsibility. Therefore, you should always be ready before you go through a long-term and demanding commitment.

  • Check and Compare Similar Products
    With the hundreds of Singapore licensed moneylenders, you’re bound to find lower or higher interest rates, loan amounts, exclusive terms, and promotions. Make sure to compare them as much as possible to find the perfect financial product you can use.
  • Read The Personal Loan Terms and Conditions
    You can find mock personal loan terms and conditions with a quick internet search. Review these terms and consider if you can handle them once banks offer you the same contract. Doing so gives you situations you can expect and handle effectively.
  • Assess Your Financial Situation and Capacity
    Don’t push through with your loan application if your financial situation makes it impossible to pay it back. If you’re leaving your job, put your loan applications on hold, unless you’re using them to offset collateral.
  • Restructure Your Budget Accordingly
    If you’re paying for multiple financings, such as a mortgage and college fund, assess your budget and income-to-debt ratio before applying for a loan.

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List of Money Lenders in Tanglin

No licensed money lenders found in the area