Licensed Money Lender Personal Loan Hougang

Hougang is a mature residential town and planning area in the North-East Region of Singapore. Its name comes from the Hokkien and Teochew name meaning “river end”, by virtue of the fact that the area is located upstream near Sungei Serangoon.

Hougang has multiple subzones, all connected through MRT stations and bus lines, making it convenient and ideal for settlers. This means a lot of places to visit, which means some spending!

If you are in the area looking for financing options, then this article is for you. There are multiple options to choose from, depending on your specific need.

Types of Loans

1. Personal Loan

Personal loans are loans that you take out from banks or other financial institutions that can be used for any personal need, as per their namesake, with fast financing and flexible options.

Personal loans aren’t secured, meaning they don’t require collateral, and will usually allow you to borrow a fixed amount of money over a fixed term, commonly at a fixed interest rate. The repayment terms are then spread out over a given duration based on the terms of your loan contract, interest rate, monthly salary, processing fees, and repayment capabilities.

• Amount: Up to 6x your monthly income\
• Interest rates: 1% – 4%
• Loan Tenure: Up to 12 months, subject to the terms and conditions of the agreement

2. Business Loan

Business loans are used specifically for business use, whether it’s for working capital, cash flow management, emergency expenses, mechanical repairs, and more. 

Business loans are also great for helping an establishment navigate a tough economic landscape by allowing access to funds to use in the growth of a business.

• Amount: Up to $200,000
• Interest rates: 5% to 15%
• Loan Tenure: Up to 24 months, subject to the terms and conditions of the agreement

3. Payday Loan

Financial emergencies are common in this day and age, and sometimes they can come well after you’ve spent enough of your salary and well before you receive your next paycheck.

This is where a payday loan comes in. It is a short-term loan that is meant to provide immediate financing to address an emergency need, to be repaid as soon as you get your next paycheck. 

• Amount: Up to 1x your monthly income
• Interest rates:1% – 4%
• Loan Tenure: Within 1 month or on the next payday

4. Monthly Loan

A monthly loan is also known as a monthly instalment loan. It is a financing option for borrowing larger amounts for longer terms than that of payday loans. 

A monthly loan is a great alternative and usually a more affordable choice than a line of credit or credit cards with higher interest rates for debt repayments. Once a monthly loan is taken, it will be repaid through a monthly instalment plan.

• Amount: Up to 6x your monthly income
• Interest rates:1% – 4%
• Loan Tenure: Up to 12 months, subject to the terms and conditions of the agreement

5. Foreigner Loan

Foreigners living in Singapore that require financing can get a specially-tailored financing option specific to them: foreigner loans. 

These are usually no different than personal loans but have different, and somewhat stricter requirements, than any foreigner can use to get immediate funding.

• Amount: Up to 6x your monthly income
• Interest rates:1% – 4%
• Loan Tenure: Up to 12 months, subject to the terms and conditions of the agreement

How Bugis Credit Helps You?

Bugis Credit is one of the best moneylenders in the industry, boasting a 5-star review rating from Loan Advisor and Google Reviews.

Bugis Credit offers convenient and varied loan options for its customers, including personal loans, business loans, monthly loans, payday loans, and foreigner loans. 

Conclusion

Looking for quick financing? Look no further than Bugis Credit, the best money lender in Singapore. If you’re facing financial difficulties, Hougang Personal Loan can help you out! Contact us and apply for a loan now at 6345-9123 and get fast funding!