A licensed moneylender is one that follows all the guidelines and regulations as established out under Singapore rules and is registered and qualified under the Singapore Moneylenders Act. A moneylender can also give a great variety of loans, including the emergency loan or personal loan when a precise sum of money is needed to address certain financial situations.
Whether you need to have your vehicle repaired, pay an unexpected medical charge or have a higher than expected utility expenses, we have a moneylender who can work with one to get the right type of loan for your needs.
The Advantages of Moneylenders
When it comes to comparing the services of loansharks to moneylenders, the advantages that acknowledged moneylenders hold are significant
Set Rates: Because moneylenders much comply with what the law states, the interest levels and agreement they give are set which means you can trust what is on the financing agreement. Compare this to a loanshark who is not bound by any legal authority to change their rates or conditions of the money anytime they so desire.
Certain Lending: While certain people might not exactly qualify for certain types of loans, the moneylender will honor what they provides to those who qualify for their services. Once again, a loanshark is under no such obligation as they provides all, some or none of what they promise without having consequences to their actions.
In fact, if you are in need of a private loan or emergency loan, then using the services of a licensed Singapore Moneylender offers many advantages over heading to a loanshark. Possibly if you have poor credit, a moneylender may be able to help.