Many people might worry about the term ‘moneylender’ because it is often associated with money sharks.
This couldn’t be further from the truth, however, when it comes to the licensed moneylender in Singapore.
They are fully registered with the Ministry of Law and have to abide by a strict set of rules, which guarantees the safety of any transactions that are agreed.
Rules and regulations determine how much they can lend, charge in interest and what fees can be applied.
If you are in need of cash quickly, a licensed money lender could well be your best option.
We’ll take a look at the advantages of borrowing through one of our licensed moneylenders.
Our licensed moneylenders can approve loans and have the money in your bank account on the same day, in some cases money can be credited just 30 minutes after your application.
You never know when one of life’s little catastrophes might crop up. Incidents that can seriously affect your lifestyle if you don’t have the cash to deal with them happen when you least expect them.
Luckily, our licensed moneylenders are always on your side and are there to send you the cash you need at short notice.
Higher approval rates
Our moneylenders aren’t as strict in their acceptance criteria as other financial institutions.
This means that even if you don’t have the greatest credit rating you might have more chance of securing a deal on our website.
You do need to be over 21 years old and have a minimum income of $20,000 dollars but our lenders might not worry as much about your financial history than other institutions would.
Applying for a loan from when of our licensed moneylenders in Singapore couldn’t be easier.
The process can all be handled online. This includes the submission of identity documents, which should include an NRIC or Government issued identity card, proof of address through a utility bill or bank statement and proof of income.
The application process is quick and you can receive your money straight into your bank account within 30 minutes.
It certainly beats going into the bank to complete your application and helps you move on with your life quicker.