Bugis is one of Singapore’s busiest places. It’s popular because you can find the Bugis Street Market, which is one of the largest markets in Singapore. After dining here, you can enjoy a great time in the Asian Civilisations Museum and explore the art, culture, and architecture of Asia through a variety of displays and multi-sensory experiences.
Before venturing out, make sure you have enough budget to do everything that you want. Thankfully, you can always count on Bugis Credit to provide you with a high-quality personal loan with the best terms possible.
Am I Working With a Licensed Money Lender?
Here is a list of red flags to help you identify licensed money lenders from loan sharks:
- Registered: The Ministry of Law established the Registry of Moneylenders to test, license, and revoke money lending licenses of all Singaporean groups. Each licensed money lender has their respective license number to display in their shops and on their website. You can find the complete list of registered money lenders here.
- Unsolicited Communications: Licensed money lenders cannot initiate contact with their customers. Thus, if you’ve received a huge loan offer from an unidentified source, you can be sure it’s a loan shark’s predatory action.
- Unfilled Terms and Conditions: Picture this situation: You haven’t filled out your application form completely, yet you’ve received your complete loan amount. This is an invalid transaction because licensed money lenders must explain your terms and conditions completely and ask that you sign a form that verifies you’ve entirely understood it.
- Improper Advertising: Licensed money lenders can only advertise through their websites. They cannot use social media, emails, and SMS for marketing their financial products.
What Should I Consider Before Taking Out a Licensed Money Lender Personal Loan?
- Purpose: Many troubled borrowers failed to repay their loan on time because they did not identify and plan for their loan’s purpose. To avoid this situation, we highly recommend that you use personal loans for specific purposes. For example, you need cash for a vacation, so you’ll have to plan carefully before applying for a personal loan.
- Loan Amount: A high loan amount is risky because of its higher monthly loan repayments and interest rates. Plus, missing any regular repayments will have you accumulate penalty fees. With this in mind, make sure that you know your loan’s purpose to estimate the best loan amount for your needs.
- Interest Rates: Compare rates that you find from various licensed money lenders. Loan quoting services online can provide you with excellent comparisons between various lenders. You can get from 1-4% interest rates with all licensed money lenders.
- Loan Term: All personal loans have a 6 to 12-month repayment period. Keep this in mind to avoid missing repayments and earning penalties.
Bugis Credit: The Most Accessible Licensed Money Lender in The Country
- Registered with Registry of Moneylenders: Bugis Credit is a fully licensed lender in Singapore under the regulation of the Ministry of Law with the licensed number 26/2021
- Experienced Loan Provider: We have been providing the best personal loans since 2007 to the benefit of our customers
- Friendly Staff: Our friendly on-branch team will help you fully understand the loan application and approval process in full detail, especially if it’s your first time.
Visit our website today and apply for a loan from the most dependable licensed money lender in Singapore now!
List of Licensed Money Lender Near Me
Licensed Money Lender
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