You have loads of bills piling up, emergency expenses to settle, and yet, you barely have enough resources to pay all of these. To make things worse, no one among your friends or family members can lend you some money for debt payments. If this is the kind of situation you are in, how can you possibly get through this stress and settle your bills on time?

Reliable Licensed Money Lender – The Right Solution for You

When it seems as though no one can help you with your financial concerns, the best thing to do is to search for a credible licensed money lender in Singapore. These are businesses that are ready to serve people like you who need a quick source of funds for their emergency expenses and bills. With hassle-free application and fast approval, you can get the amount you need at the right time you want.

Unlike banks, money lenders can significantly cut the long waiting period that is typical with traditional bank loans. Moreover, you no longer need to go through a ton of paperwork or gather numerous documents as requirements for your loan application. You can simply fill out a form online, meet basic employment or age requirements, send in your application, and just wait for the money lender to contact you in a few days. In fact, it does not take a week for your application to be approved, so that minimises the stress in getting sufficient funds for your debt repayment.

Factors to Consider

Keep in mind that money lenders in Singapore offer varied rates and services, so it is best to shop around and find the right one you need. After all, the last thing you want to happen is to be buried in even more debts after securing a Payday loan. Thus, here are some points to remember as you look for the right money lender in the Singapore.

1. Reasonable Interest Rates

You want a money lender that offers affordable rates suitable for your financial situation. Make it a point to compare rates offered by different lenders in Singapore, and choose one with reasonable interest rates. However, the lowest rate does not always mean the best since you still have to consider the lender’s credibility and quality of services.

2. License

Naturally, it is a wise choice to work with a licensed and credible money lender. It should be recognised by the Registry of Money Lenders in the Singapore, with valid licenses to conduct their business operations. A lending institution that has been in the industry for a number of years is also a good option since it could not have lasted long in the business if its reputation was below clients’ expectations.

3. Flexible Repayment Terms

Look for a lender that offers flexible terms in repaying the loan. This is a crucial factor to consider since you should be able to repay the loan according to a schedule that is realistic enough for you. This should be something that you need to check with the lender even before you decide to submit your application.

So, when it comes to choosing the best lender that meets you needs, it is always a practical step to do intensive research about lending companies in the Singapore. You may also ask your family and friends for recommendations, and validate the credibility of the lender before you send in the application form or sign on the loan contract.

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Published On: February 8th, 2015

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