Return to: Finance News

3 Major Tips on Finding the Best Moneylender in Singapore



Borrowing a loan is a serious business and you do not need to be rash when looking for a lender. Doing research allows you to learn all details of the loan and decide for yourself if the loan is ideal for you. You should think about the following 3 tips when looking for the best moneylender in Singapore.

1. Check the License of the Moneylender

Before taking out a loan, you must first check whether the moneylender holds a valid license that is issued by the Registry of Moneylender Singapore. Licensed lenders will only promote through three channels, such as online/printed business directories, their official websites, or company premises. You can stop by the Ministry of Law website and check out the updated list of the best moneylenders Singapore.

2. Compare Interest Rates and Fees

After compiling a list of lenders that are licensed, you must compare the rates of interest and fees. You will find online loan comparison tools such as gobear and MoneySmart that you could use to compare the rates of interest between the top moneylenders Singapore. You're required to answer a set of questions in a questionnaire to look at the most relevant loans search result.

3. Call the Bank to Confirm Details regarding the Loan

It's always best to speak to the creditor by the hotline number on their site before applying for the loan. He must explain how the lender calculates the rate of interest for the loan so that you understand what factors they take into consideration when determining the rate of interest.

Conclusion

To conclude, moneylender in Singapore is a fantastic alternative for people who want some quick money and cannot get approved for financing from the bank. They can approve the loan quickly in case you submit all the necessary documentations and release the funds as quickly as the next following ...

News Release: 3 Major Tips on Finding the Best Moneylender in Singapore
Submitted on: December 05, 2017 10:45:03 AM
Submitted by: winds
On behalf of: quickmoney.sg/
advertisement