Moneylender Singapore – How to Find a Licensed Moneylender
If you are in need of cash to cover urgent expenses, a licensed moneylender Singapore may be just what you need. They are known for their high quality of service and fast loan approval. They also offer flexible repayment options that make meeting your loan requirements easy and hassle-free.
The best way to ensure you are dealing with a legitimate moneylender is to check them out before applying for a loan. This is important because not all moneylenders in Singapore are created equal.
Licensed moneylenders in Singapore are all listed in the Registry of licensed lenders by the Ministry of Law (ROM-MinLaw). This list includes key details such as their license number and an approved place of business.
When you meet a licensed moneylender, they will need to verify your identity with NRIC cards and other personal ID documents. They will also have to see you at their office premise for face-to-face verification before granting your loan.
You can do your research and make an informed decision on which moneylender in Singapore suits you best by checking out their online reviews and other information on the internet. The best moneylender review website in Singapore, Loan Advisor, offers a free, one-stop loan comparison portal that can help you find the perfect money lender for your financial needs.
Licensed moneylenders must comply with the Money Lending Act and other laws in order to operate in Singapore. These laws include regulations regarding the amount of loan you can borrow, the interest rates, and permitted fees. You must also be aware of the penalties you can expect to pay for late payments and early repayments. Moreover, moneylenders can only charge you interest on the amount of your outstanding balance. moneylender singapore