Licensed Money Lender Personal Loan Boon Keng

Boon Keng, Singapore is a subzone of Kallang. It is named after Dr. Lim Boon Keng, a renowned Singaporean physician who promoted education and social reforms in the country.

Boon Keng offers plenty of attractions within and nearby. These include the island resort of Sentosa and the high-end Marina Bay Sands. The latter is a hotel that is famous for having the world’s largest infinity roof-top pool. If you would like to get a taste of nature, then Gardens by the Bay will deliver the outdoor experience that you want.

The residential area of Boon Keng is easily accessible thanks to the Kallang MRT Station and the Kallang–Paya Lebar Expressway (KPE). Should you not have enough funds to enjoy everything Boon Keng has to offer, you can always borrow what you need to finance your activities.

How to Identify a Licensed Money Lender?

You should only borrow money from a licensed moneylender. Here’s how to identify such moneylenders:

1. A licensed money lender will be listed in Singapore’s Registry of Moneylenders.
2. Licensed money lenders will not call you, text you, or use social media to aggressively advertise their lending services to convince you to borrow.
3. Regulated money lenders will not ask you to transfer monies on the pretext of paying “processing fees” or “GST fees” before the disbursement of a loan.
4. Licensed money lenders will not solicit your personal information by asking for details such as your NRIC number, address, etc.
5. Licensed money lenders will insist on physically verifying your identity at their official place of business before giving you a loan.

What to Consider When Taking a Loan?

You must think very carefully before you decide to take a loan. There are several factors that you must consider:

• Type of Loan

Lenders offer a variety of loan products. You cannot get them all. So you need to determine which loan is the right one for you. For example, if you have pending bills that need to be paid quickly and your money hasn’t come in yet, a payday loan would be a good option. On the other hand, if you want to finance your business activities, then a business loan works better.

• Interest Rate Charged

How much are you going to be charged when you borrow a loan? That interest rate matters a lot. The higher your interest rate, the more money you will need to pay on top of the principal that you borrow. And it may end up making your debts unmanageable. 

• Other Terms and Conditions

There is so much to understand before you take a loan. Many lenders charge some kind of administrative fee for processing your loan. You need to know how much it is so that you can determine if it’s fair.

You must also bear in mind the repayment terms. How long will you have to pay back the loan that you borrow? How much will you be charged as late payment fees if you delay making payments? Make sure you understand all these terms; watch out for any hidden charges.

How can Our Company Help Them? Why Us? 

Raffles Credit is a licensed money lender that offers many loan products. We serve residents of Boon Keng and nearby areas. We can help you access the funds that you need to enjoy your life in the area.

You should choose us because we are licensed and regulated Money Lender Singapore Boon Keng. Our terms are fair and transparent. And we do not charge any hidden fees.

Get the loan you need! Call us at +6562351788