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Cherry-pick the Right Money Lender in Singapore

Updated on October 23, 2017
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Freelance Writer and blogger "This is no art, we all can taste life as it is, once we stop judging and start accepting."

So who is a money lender? A money lender is basically a person or organization that loans you money for an interest. Interest is calculated in percentages and this is the portion of your loan that is charged by the money lender.

Why look for a loan in the first place?

Sometimes inevitable events occur and you urgently require money. It could be an unanticipated visit to the doctor, accident or just your car repair. Probably you are thinking of starting the next big thing in Singapore and require a loan to jumpstart your business. So what do you do? Yes, that’s right, you have to find a reliable money lender to offer you a loan. Well, Singapore boasts of having reliable money lenders at good interest rates.

The Big Question

Which money lender? It can be difficult to choose the best money lender out there, especially because interest rates are different from one money lender to another.

What to Consider When Choosing a Money Lender in Singapore

Interest Rate

In Singapore, there are many money lenders offering loans at different interest rates. That is why you need to compare the rates of reliable money lenders before making a decision.

Nobody wants to pay huge interests; this is why you need to pick a money lender offering loans at low-interest rates. The lower the interest rate the lower the money you pay back.

The credibility of Money Lender

Before settling for a money lender in Singapore you need to find out whether they are trustworthy and reliable. Find out whether they have a valid license from the Registry of Moneylender Singapore.

Loan Repayment Schedules

It is important you choose a money lender that has a flexible repayment schedule. Choose one that will not affect your ability to pay back the loan. Failing to make a payment could land you in deep trouble. Nobody wants that.

With the wide pool of money lenders in Singapore, you need to compare several of them so that you can get excellent services. Always go with the one who has a good reputation to be safe.

© 2017 Sonal

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