Banks often have a minimum annual income requirement when it comes to obtaining a personal loan. In addition, if you are a foreigner, it may be very difficult, particularly if your monthly income is less than $3,000. Certain banks may even need you to have a greater monthly income to qualify for a personal loan.
If you’ve attempted but been denied a loan from a bank, you may apply for a private personal loan from a licensed moneylender in Singapore. The Ministry of Law maintains a list of all licensed moneylenders; borrow only from them to avoid future complications. They have been subjected to rigorous examination to guarantee they are genuine and adhere to all applicable regulations.
Singapore Moneylenders are obliged by law to explain the terms and conditions of a personal loan in a language you understand. As a result, pay close attention, listen attentively, and read carefully to verify that you are satisfied with the terms and conditions stated. If there is anything you do not understand, get clarification from the lender. Avoid taking a personal loan if anything is uncertain, regardless of how much you need it. If you’re not satisfied with the conditions offered by one lender, there are alternatives. Shop around and compare conditions until you locate a licensed moneylender that meets all your requirements.
Moneylenders may charge interest rates of up to 4% per month. As a result, borrow the lowest amount possible concerning your requirements and for the shortest payback term possible.
Are You In Need Of Quick Personal Loan Today?
Let us assist you in getting the most suitable loan offers in less than a minute!
Are You In Need Of Quick Personal Loan Today? Let us assist you in getting the most suitable loan offers in less than a minute!