If you’re up for some walking, hiking, and horse-riding, Upper Bukit Timah is excellent. Here, you’ll find Tree Top Walk, Gallop Stables, and Singapore’s Botanic Gardens, the perfect places to get fit while enjoying your day.

Summary of Top Legal Money Lenders of 2022

However, don’t let a little cash shortage get in the way. You can always have licensed moneylenders help finance you quickly. But, before you do, here are a few quick reminders to make sure you get the smoothest experience possible.

5 Guaranteed Ways to Avoid Loan Sharks in Singapore

“Ah Longs” or loan sharks are a dark shadow in Singapore’s culture. However, thanks to The Ministry of Law and its Registry of Moneylenders, their numbers have dwindled. Unfortunately, they can still masquerade as legitimate lenders. Avoid them by checking these details and following these steps.

  1. Check Their License Number
    All licensed moneylenders have their respective license numbers. This series of numbers is proof that your lender has passed all the examinations and certifications owning a moneylending company needs.
  2. Use the Registry of Moneylender’s Comprehensive List
    The Registry of Moneylenders has the power to certify, license, and revoke any licensed moneylender. Furthermore, they evaluate all moneylending activities as mandated in the Moneylenders Act of 2008. If your prospective lender is not on the list, you can be sure they’re loan sharks.
  3. Avoid Any ‘Approached’ Promotions or Direct Communications
    If you’re walking around upper Bukit Timah and a figure approaches you, think twice before giving in to their loan offer. Even if they look formal or trustworthy, question their approach. The Moneylenders Act of 2008 prohibits any outreach, both digital and physical when promoting moneylending services.
  4. Ask the Police Regarding Local Loan Shark Activities
    Your local police continue to compile reports regarding local loan shark activities. Check citations to see if your prospective lender has used the same modus to contact and entrap you with their services.
  5. Don’t Give In For ‘Too Good To Be True’ Promos
    Promotions that are too good to be true, such as a conveniently-low interest rate or regular loan repayment, are completely off the charts. Question these promotions and take caution when considering them.

Avoid Spiraling Deep Into Debt

Personal loans are convenient, but if you use them improperly, they can send you spiraling into deep debt.

  • Think Of Your Financing Objectives
    All wise borrowers have a time-sensitive objective requiring an enormous cash amount that they can’t save up for quickly. In doing so, they borrow the cash and pay for it later with exceptional focus.
  • Don’t Use Loans as Savings Substitutes
    If you have ample time to save up for something you want, don’t use credit to purchase them. Only use enormous loan amounts for items that you need. Don’t use loans as savings substitutes.
  • Read Your Terms and Conditions Completely
    Lastly, don’t get blindsided by your loan’s terms and conditions. Read the fine print before you sign anything, even from licensed moneylenders.

Get The Best Rates From The Best Review Sites

Moneylender Review’s top-notch algorithm and financing professionals can help you get up to three high-quality quotes from the best moneylender Singapore. Contact us today to learn more and get you started using this convenient quick online form!

List of Money Lenders in Upper Bukit Timah