West Coast, Singapore has been created out of reclaimed land. From then on, it has become a recreational area. It is also well-known for its commercial facilities, private houses, and condominiums.

Summary of Top Legal Money Lenders of 2021

It has two-storey shophouses where you can find the West Coast Community Centre, Ayer Rajah Food Centre, Jalan Mas Puteh, and Ayer Rajah Market. Since the West Coast is also one of the areas with a large number of international citizens, two international schools have been set up.

There are lots of moneylenders on the West Coast but not all of them are created equal. In identifying a licensed money lender personal loan that West Coast has to offer, you need to set some criteria to avoid becoming a victim of loan sharks.

How to Identify a Licensed Money Lender?

  • Unlicensed money lenders advertise using illegal channels
  • Moneylenders on the West Coast are not allowed to advertise via SMS or any telemarketing services. If you receive a call or text offering money lending services, delete or report them.
  • Unlicensed money lenders will push for online fund transfer
  • Loan sharks’ lure borrowers into their mindless schemes because of their fast loan process. They also avoid meeting up with their borrowers in a physical office.
  • A licensed moneylender will guide you through the proper application process, which involves filling out an application form and signing up for a loan contract. Unlicensed moneylenders will do anything to gain your trust
  • At first, unlicensed moneylenders will appear to be nice and friendly to their prospective borrowers. They will try to be as convincing as possible, but the only way to find out whether or not they are legal or licensed is by checking Singapore’s Ministry of Law’s list of licensed moneylenders.

Factors to Consider When Taking a Loan

  • Credit history
    You can get lower interest rates if you have a good credit history. Be sure to find out what your acknowledgment score is before applying for a loan.
  • Type of Loan
    It is also important to ask yourself what and how you want to use the loan for. Since there are different types of loans in the market, you have to explore options taking your situation into account.
  • Interest Rate
    Do not believe in faulty advertising, offering you the lowest interest rate as there might be some hidden charges. You should also match the interest rate with the repayment terms.
  • Loan Terms
    There are different terms you can explore when taking a loan, so be sure that you are aware of how the terms will affect your repayment option.

How Can Moneylender Review Help You?

While the choices may be endless when finding a licensed money lender personal loan West Coast, there is no such thing as one size fits all solution. The best thing about Moneylender Review is that they will provide you with the information you need, so you can choose the best moneylender Singapore that offers a comprehensive payment scheme and reasonable interest rates.

Conclusion

They say that if it is too good to be true, it probably is. While loan sharks may offer you a speedy loan process, always read the fine print. Visit Moneylender Review so you will know if you are dealing with a licensed moneylender.
Fill in our online form and get FREE quotes from us today!

List of Money Lenders in West Coast

No licensed money lenders found in the area