Licensed Money Lender Personal Loan Balestier

Singapore’s Balestier Road is one of the best places to spend a weekend getaway. With gastronomic treats from Ju Xiang Xiang’s satisfying roast ducks, Tanjong Rhu Pau’s amazing steam bun flavours, and a Starbucks to have some satisfying coffee, you have everything you need for a memorable experience.

Unfortunately, everyone has a limited budget for weekend getaways. In case you don’t mind borrowing something extra to make your weekend extra special, licensed money lenders can provide you with the best financing for all your needs.

3 Crucial Signs You’re Working With A Loan Shark

Before you jump into the first licensed money lender offer that you might receive, make sure that you’re working with a registered and dependable lender first. Singapore’s loan sharks are ready to pounce on the most vulnerable and unwitting borrowers. 

Read on to help yourself avoid these dangerous lenders.

• Unregistered: All licensed money lenders in Singapore have to register with the Registry of Moneylenders, which operates under the Ministry of Law. Any money lender that you can’t find in this list is most likely a loan shark and will prey on you with easy cash releases and no stipulated contracts.
• Blank Contracts: Most licensed money lenders show “goodwill” by providing you with cash before they can explain or fill out your loan contract. The cash they will provide is most often much larger than typical bank or licensed money lender offers. Avoid these offers at all costs.
• Unwanted Solicitation: Licensed money lenders are disallowed from sending unsolicited text messages, calls, emails, chats, and other forms of outreach. With this in mind, if you’ve received a huge offer but don’t recall applying for any loan, it’s most likely a loan shark sent you the message.

5 Factors to Consider Before Going All in A Loan

Before signing up for a loan, make sure you consider the following factors to avoid issues and difficulties in the future.

• The Money Lender: Make sure you take note of all the signs and guidelines to finding the best licensed money lender that we’ve described above.
• Loan Amount: Most licensed money lenders can provide you with up to six months of your monthly salary. Ensure that your existing income and budget can handle the potential monthly payments.
• Interest Rate: Licensed money lenders will add a 1-4% monthly interest rate.
• Repayment Amount: Most personal loans and other financing have a monthly repayment schedule. 
• Terms and Conditions: Don’t sign any loan contract if you find a single term confusing. A reputable licensed moneylender cares about helping you understand your terms and conditions completely.

Work Only With The Most Dependable Singapore Licensed Money Lender

At Bugis Credit, you get only the best loans for personal, business, bridging, and more. Contact us today at 6345-9123 or visit our website today to work with the best money lender in Singapore. You can also visit the best Balestier Money Lender today!