Fast cash loans in Singapore

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Best Licensed Moneylenders Guide to Borrowing
Personal Loans from Legal Moneylenders
Are you looking for a licensed moneylender? Then
youve come to the right place! Our guide to
borrowing can help you. Many people in Singapore
face financial difficulties. Life has the habit
of taking you and your savings account by
surprise. For example, you might need a larger
down payment for your HDB flat, for your
post-operative medical equipment or for your
childrens tuition fees. On the other hand, you
might decide its finally time to visit Japan or
purchase bikes for the whole family. Thats why
licensed moneylenders exist. They are able to
lend you a personal loan within hours! To
enjoy their resource, you can apply for a fast
cash loan here. But, heres the problem There
are almost infinite loan packages and
solutions, plus you have to understand the
legal slang. This translates into hours of
research that you can avoid by reading this
article. Well unravel all the issues to
consider before taking the loan, eligibility
conditions, and loan sharks. Well also
discuss the best licensed moneylenders in
Singapore that can help if anything goes
wrong. These licensed moneylenders can be
found all over Singapore. From Jurong to
Tanjong
Pagar to Toa Payoh and Bedok.
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• What Do You Need To Do Before Borrowing From A
  Legal Moneylender?
• Before borrowing from a legal moneylender, you
  have to
• Consider any government schemes that might suit
  you as an alternative
• Shortlist several moneylenders to ensure youre
  getting the best value
• Read the contract thoroughly
• Make sure you understand the legal requirements
• Ensure you can make diligent repayments
• Those are MinLaws advice to get a good loan.
  What about the best loan for your needs?
• Heres what to consider
• Decide On The Type Of Loan You Need
• The array of personal loan options seems
  limitless.
• Lets see what a personal loan is first.
• Some licensed moneylenders use the term for any
  sum you borrow for personal reasons as opposed
  to business reasons. So they diversify
  their choice according to your needs to
  include

But theres another catch.
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Genuine personal loans aka personal installment
loans have the advantage of flexibility, which
means you can use the money for everything
you want without explanations. Conversely,
customised loans like education loans can only be
used for books, tuition, and other things
directly related to your studies. The choice can
seem a no-brainer because, of course, you want
that flexibility. However, customised loans
usually have lower interest rates and
longer tenures. The reason is that your
licensed moneylender sees youre working towards
an objective, which makes you a more trustworthy
client. So the ultimate choice boils down to
versatility vs affordability. What Is A Credit
Score And How Will It Affect Your Loan
Application?

• Your credit score is a rating based on your past
  financial history. It considers your spending
  habits, how diligently youre paying your bills,
  how much debt you have compared to your income,
  and so forth.
• If you have never taken any loan, it does not
  mean that you have a perfect credit score. As you
  do not have any previous transactions, your
  credit score will be undetermined.
• How Much Can You Borrow From A Licensed
  Moneylender In Singapore?
• Yes, there is a limit to the amount of
  money you can borrow. According to MinLaw,
  licensed moneylenders can only lend up to
• 500 if youre a foreigner earning less than
  10,000

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• 3,000 if youre a Singaporean or PR earning less
  than 20,000 or a foreign citizen earning
  10,000-20,000
• Six times your monthly income if youre earning
  over 20,000
• However, these are minimum requirements, and
  moneylenders can set their own rules. For
  example, an emergency loan is usually up to four
  times your monthly income.
• Also, banks have more stringent conditions.
• They impose age-related requirements, and some
  dont have loan options available for people
  earning below 30,000/ year.