How to Find the best money lender in Singapore
Singapore is full of opportunities and living without a loan facility may be inevitable. There are a thousand if not millions money lenders all over Singapore. So, choosing the right one may be a daunting task. But, never mind, in this article we are going to guide you on how to select the best money lender.
It doesn’t matter whether you are looking for a personal loan money lender singapore or a licensed money lender toa payoh, this guide applies to anybody as long as they are located in Singapore. Before getting into details let’s discuss the characteristics of a good moneylender.
Characteristics of a licensed money lender toa payoh
A trustworthy moneylender should have a license to operate. All licensed moneylender sg are registered under the Ministry of law. They are guided by rules and regulations in the Money Lender’s Act.
A legal money lender should offer fair terms and conditions on the loan. Also, they should be lenient to customers in case of default by offering an alternative settlement system instead of harassment.
Toa payoh money lender is one who is reliable. This is to means that, they are always ready to offer financial assistance when called upon, especially in times of emergency.
Level of Experience
A good money lender Singapore should be well versed in all types of loans. For instance, they should not miss some of the most common loans such as marriage loan, personal loan money lender Singapore, short term loan Singapore, business loan. The length of operation in the money lending industry can give you a clear picture of the services to expect from a given money lender.
Having discussed their characteristics, now it’s time to assist you in your quest to locate the best toa payoh moneylender:
Verify the Licenses and Permits of your Chosen Money Lender
Before entering into any loan agreement, ensure you are dealing with a licensed moneylender in Singapore. You can do this by inspecting their licenses and permits and verifying their registered name in the list of Singapore Licensed Moneylender.
Conduct a Background Check from Family and Friends
Chances are that either a friend or a family member has dealt with local Toa Payoh Money Lender before. Therefore, it is a wise idea to consult them and hear about their experience and get some suggestions from them. Your family and friends will always give reliable and genuine information plus warnings regarding moneylenders they had a nasty experience with. Besides family members and friends, you can also reach out to colleagues and business partners.
After consulting friends and family, the next thing is to get to the internet. You can make use of Google search to identify the best money lender. For instance, you can search for the best marriage loan, best personal loan money lender Singapore, best short term loan Singapore, best business loan. Google search will give you a lot of information and you’ll be able to go through the reviews to identify which moneylender offers the best service.