Licensed Money Lender Personal Loan Commonwealth
Commonwealth is a subzone of Queenstown. It is found in the Central-Western part of Singapore. The area was named after the Commonwealth of Nations.
The Commonwealth is currently managed by the Tanjong Pagar Town Council. It has lots of HDB flats and is, therefore, a good residential area to live in for people looking for starter homes.
It also has a good transportation network and schools for children to go to. Additionally, you can access lots of amenities including churches, mosques, temples, vibrant culinary spots, museums, etc. Other attractions nearby include botanical gardens and a war memorial park.
If you want to move into a HDB flat within Commonwealth, a fast cash loan may help you take advantage of the opportunity.
How to Get a Fast Cash Loan
A fast cash loan is a short-term unsecured loan that is available immediately after you sign the loan agreement. It is useful for catering for emergency needs like relocation. It can also be used to pay for regular expenses that are necessary if you have a financial shortfall.
There are several steps you need to take to get the fast cash loans from a Singaporean moneylender.
1. Identify a legal moneylender to borrow from
Illegal moneylenders usually use unlawful ways of advertising and recovering loans. Here are known ways of spotting illegal moneylenders:
- They solicit for loans via social media, text messages, or phone calls. They are very good at spamming people with loan adverts.
- They may claim they can give you loans without physically verifying your identity.
- They may ask for you to transfer money for “processing fees” or “GST fees” before they disburse the loans you borrow.
- They like to harass borrowers when they are late in paying for the loans.
- They are not listed in the Registry of Moneylenders, which is under the Ministry of Law of Singapore.
2. Have the required documentation
A fast cash loan doesn’t usually require a credit report. But there are basic documents that you need. This include:
- An identity card or passport
- An employment letter and payslips for 3 months.
- Your Singpass
- Proof of residences like a tenancy agreement or recent bill addressed to you
3. Find out collateral requirements upfront
It always pays to find out the collateral requirements upfront. However, where a fast cash loan is concerned, that is not necessary. The loan is usually based on your income. Your lack of assets will not work against you.
Advantages of Taking a Loan With a Legal Moneylender
- They are regulated, which means they are legally obligated to follow the law when giving you loans or trying to recover debts.
- They have fewer requirements than banks, which makes their loans much easier to access.
- They are legally obligated to adhere to the law when giving you loans. Thus, their interest rates are capped at 4% per month. You don’t need to worry about your debts spiraling out of control.
How Our Company Can Help You? Why Us?
If you are looking for a variety of loans like a fast cash loan, business loans, personal loans, etc., we can help you. Here’s why you should consider us:
- We are a licensed and legal moneylender
- We offer loans to Singapore citizens, PRs, and foreigners without discrimination
- We have a fast online preliminary loan approval process
- We have transparent loan terms and flexible repayment terms
- We can provide you with the much-needed loans within the same day of signing the loan agreement
If you are looking for a licensed moneylender in Commonwealth that adheres to the law to give you a fast cash loan, Raffles Credit is here for you. And we have numerous 5-star ratings and hundreds of positive reviews on Google and Loan Advisor as proof of how great our services are. Talk to us at +65 6235 1788.
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