Licensed Money Lender Personal Loan Bedok
Bedok is a residential town in the East Region of Singapore. It is the largest planning area in the country and has close to 300,000 residents.
Because of Bedok’s significant distance from the Central Area, it is affordable for many people. But that doesn’t mean it’s boring. You can enjoy many amenities in Bedok and nearby areas.
Some of the amenities you can enjoy while in Bedok, Singapore include Bedok Reservoir Park, which is an excellent place to relax and recharge. Others include the Singapore Wake Park for lovers of water activities and the Xtreme SkatePark for lovers of extreme sports.
Bedok is a good and affordable place to settle with your family. But relocating can be challenging. So you may want to find additional funds quickly to help you get settled.
How to Get a Fast Cash Loan?
A fast cash loan is any short-term loan that enables you to meet your financial needs. It usually doesn’t require collateral. You can get it within hours after signing your loan agreement.
But you must ensure you get it from a legal moneylender. Avoid illegal lenders at all costs.
1. Known ways of spotting illegal moneylenders
Illegal moneylenders tend to have common characteristics. Here are some of them:
- They don’t appear in the Registry of Moneylenders available on the Ministry of Law’s website.
- Illegal moneylenders advertise through phone, text, and social media contrary to the Ministry of Law’s guidelines.
- They don’t bother trying to ask for you to come to their physical place of business for verification. They may not even have an office.
- Illegal money lenders may ask you to make payments before they disburse the loan. They may use the excuse that it’s meant for “GST fees” or “processing fees.”
- They are not clear on the interest rates and other fees they intend to charge you.
- They tend to use foul language.
2. Have the Required Documentation with You during an Application
You must have all the paperwork required when applying for a loan. These usually depend on the kind of loan you are looking for as well as your immigration status. But they usually include an ID, proof of employment, proof of where you reside, and knowledge of your SingPass.
3. Find Out about Any Collateral Requirement Upfront
Be sure to ask about any collateral requirement upfront. Most money lenders only need proof of payment, which shows your ability to pay before they can give you a loan. But bigger loans tend to require some form of security.
Advantages of Taking a Loan with Money Lender
It’s better to take a loan with a moneylender rather than loan sharks. The advantages of doing so include the following:
- Legal money lenders are regulated, which means they won’t give you loans with unfair terms
- Legal money lenders won’t threaten you or assault you if you delay making payments
- Legal moneylenders will let you know upfront what you will owe instead of adding hidden charges that will make your debt bigger
How Our Company Can Help You?
Raffles Credit can help you get the fast cash loan that you need. You should choose our services because we are a regulated lender that offers loans at affordable rates.
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