Why Do You Need A Licensed Money Lender Singapore

Posted by winds on May 29th, 2018

Why do you need a licensed money lender Singapore? Are you looking for a simple, but a safe way out of the financial mess? If you end up in this soup more frequently than not, then you can consider borrowing money from licensed money lenders in Singapore. Here are three reasons why borrowing from a licensed money lender, will be a fantastic idea.

• No High Interest:

Most of the licensed money lenders of Singapore need to register under Registrar of Moneylenders that dictates the interest rate which can be levied upon the money they lend, the maximum amount of money that can be lend and also the fees that they can charge. Therefore by borrowing from a licensed money lender, you avoid being the hot mess that is usually associated with unauthorized money lenders.

• Easy Loans:

If you are in desperate need of money, then approaching a certified money lender is a better option. These firms don't run a rigorous background or credit score test and you can get the loan approved in less time than conventional banks.

• Goodbye Harassment:

Well, if you're among the many people who are scandalized by the harassment that you see and read in your everyday life by the unauthorized cash lenders, you do not have to think about it anymore. As a result of strict laws laid down by the Singaporean authorities, the licensed money lenders must follow every single money lending laws. And if they are found to be violating one of them, then they confront serious and stringent punishments, such as fines or might even obtain their license suspended or revoked.

• Keep your Personal Information Secured:

If you approach a licensed money lender, your private information is kept secured so that it doesn't fall into the wrong hands. So you can be sure that all your vital information is with a trusted and trustworthy source. Not only this, you are also spared from illegal telemarketing calls and SMSes to lure you into borrowing money. Now that you're knowledgeable about the know-hows of a licensed money lender in Singapore, let them assist you.