Loan processing: There is no denying that personal loan in Singapore can take few days if you apply in a bank. People with the urgent need of cash, moneylenders are the best option. As they take few hours to process the loan with minimum documentation. On the other hand, loan sharks will mark up the interest rate and earn huge profit.
Interest rate: The interest rate is genuine and affordable when you approach a moneylender. However, loan sharks try to en-cash the adverse situation and try asking for a higher interest rate on a loan.
Harassment: Finally, harassment is the most important factor that differentiates a professional moneylender and a loan shark. It is a wide option to turn to a moneylender over preferring a loan shark. If you look for the good night sleep, never get attracted by the offers from the loan sharks, as it will definitely turn to awake you for nights in future. It is genuine to explore the internet if your search is for a personal loan in Singapore. Find the professional moneylenders who follow rules and regulation and work for genuine profit. You can also request for an additional time if you are unable to repay the loan amount from a moneylender.