How Do I Get A Licensed Money Lender in Singapore?

Finance

legal moneylender It can be hard to get some quick cash and it seems to get harder especially when you need it the most. Turning to a licensed money lender Singapore is one way to go about handling your financial problems. The thing though, is knowing who to trust and who is a reliable money lender. There are plenty of money lenders that can come to your rescue in Singapore and you should acquaint yourself with such services as you wait for your steady money flow.

Find a money lender that is regulated

One of the major bottle necks to finding a good money lender is the presence of unscrupulous business people seeking to squeeze money out of you. The Moneylenders Act of Singapore is an act that prescribes the mode of operation for money lenders in Singapore and you want to engage with an institution that adheres to these regulations. You choice of money lender should also be registered with the Registry of Moneylenders.

Your lending institution should not charge exorbitantly

When you have to pay a lot of interest on money borrowed, then you should know that something somewhere is not right. Financiers such as CreditExcel, KatongCredit and Credit 21 are a few of the trusted moneylenders with decent rates where you can get a loan for as little as 1% interest.

Flexible payment

CreditExcel is one of the well-known financiers in Singapore thanks to their accommodating payment period. If you are stuck in a jam and just need some money to get you through the coming days or additional finances for an investment, CreditExcel is one of the best lenders you could go to. Even if you choose to go with another lender, the most important thing is to keep in mind that you need a flexible payment period that does not pressure you.

If you have been there before, you know how a small loan could get you out of a huge problem and how a lack of funds can crush the best laid plans. Even so, be sure not to rush into debt if you can find a better deal just by looking around more.

Written by Kelly