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 2021
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
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
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
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
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
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
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
- 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