Licensed Money Lender Personal Loan Admiralty
Home to integrated development plans, Admiralty was placed in the spotlight when Kampung Admiralty won the prestigious architectural Building of the Year Award in 2018, beating 535 projects from 57 countries. This seals the higher sense of community, synthesis between functionality and design, and a harmonic cohabitation with nature.
Admiralty is also in close proximity to Admiralty Park and Playground where hilly terrain, mangrove boardwalk, and waterslides make a fantastic recreation and wellness space for its residents.
With so much to enjoy in the dynamic neighbourhood of Admiralty, it is easy to run out of cash especially in emergency situations. But you can always rely on licensed money lenders like Raffles Credit.
How To Know if a Moneylender is Licensed?
With the numerous financial assistance being offered everywhere, it is easy to get confused about which one you should take.
To spot if you’re dealing with illegal lenders, here are some of the red flags to watch out for.
- Interest rates are higher than the legally imposed 4% per month.
- Advertising loan services through unauthorized channels such as SMS, Social Media, and other media. Licensed money lenders can only advertise through their official websites, business or consumer directories, and printed materials within the premises of the lender’s office.
- No physical office and landline to establish legitimacy and to officially conduct business with clients.
- Approves or grants loans online. Responsible lenders evaluate the borrower’s documents and must meet the client in person before granting the loan.
- Failure to discuss the details of the loan contract with the client. Licensed moneylenders must review with the borrower the loan details and fees with transparency before signing the agreement.
- Verify if your preferred lender is in the Registry of Moneylenders. If it isn’t registered, you are most likely dealing with an illegal lender. To view our full article about lender red flags, check our blog post.
Factors to Consider When Taking a Loan
Before deciding on your loan plan, it is smart to consider these key points first:
- Determine the loan amount that you need. This will help you decide on what type of loan will maximize your benefits towards saving on interest rates and loan tenure.
- You are legally obliged to fulfil any loan contract you enter into with a licensed moneylender.
- Consider your ability to abide by the contractual terms. Borrow only what you need and what you can afford to repay to avoid late payment fees and snowballing interests.
- Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged, and the fees applicable.
How Can Raffles Credit Help You?
Everyone should have equal and easy access to financial services, no matter their credit background or current financial capabilities. Raffles Credit empowers you to achieve your financial balance through our wide range of loan plans with the lightest interest rates possible.
With our pursuit of excellent customer service, simplest loan processes, and ethical way of business, we can help you stay on top of your finances with peace of mind.
In any financial constraints, it is always good to be smart in your choices. Raffles Credit is the most trustworthy licensed money lender in Singapore. Our safe and fast cash loans will let you take care of your financial commitments with peace of mind.
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