Licensed Money Lender Personal Loan Jurong West
Originally a much rural and nature-heavy landscape, Jurong West is fast-changing and is foreseen to be the red dot’s second business district. With its extensive developments for housing and transportations, you’ll find Jurong West to be a neighbourhood of extremes. The penchant for wildlife contrasts well with the large business parks such as the Lakeside but is not short of amenities that cannot be dismissed, namely, the Sports Centre and the Central Park.
It may not be as vibrant as its East counterpart, Jurong West is a treasure trove of great eats. And the highlight belongs to Jurong West 505 West Market and we swear by Kok Kee Wanton Mee to be deserving of its legendary status.
If you’re going through a financial emergency, Jurong West is also close to some of the country’s most trustworthy licensed moneylenders. If you’re not sure about where to take one, here’s our pro-tip.
How To Know If A Moneylender Is Licensed?
It’s easy to get confused when you get caught in any tight situation, especially when what you need is a fast cash solution. To make smarter decisions, here are some of the red flags to watch out for when scouting for the best lender:
- 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 blogpost.
Factors To Consider When Taking Out 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. If you are in need of financial help, Jurong West Personal Loan can always help you out!
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.
As borrowers, it’s important that you only deal with the moneylenders who value the client’s borrowing experience while keeping the process simple, fast, and reliable. Raffles Credit is the most trustworthy money lender Singapore. Book your appointment and let’s discuss your loan plan today.
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