Singapore is a country that is known for a strenuous economy. With escalating prices, businesses to keep afloat and households to maintain, an authorised money lender Singapore has become one of the most important players in the financial industry. Applying for bank loans has become an increasingly difficult process, especially since many people do not have a sound credit rating. Not only are these lenders responsible for flexible loan products but they also ensure that these funds are reliable and accessible.
The importance of finding an authorised money lender in Singapore includes:
a) Avoiding extremely high-interest rates
Unauthorised or unlicensed money lenders are known to charge the kind of loan interests that would be beneficial to them without considering the borrower’s situation. However, any authorised money lender Singapore is registered under the Registrar of Money Lenders’ body; which dictates on the kind of interest rates that a lender can charge as well as the maximum amount that can be lent.
b) Legitimate money lenders enable you to get loans easily
If you have a reliable yearly income then the authorised money lender can be able to issue the loan quickly. You do not have to go through long borrowing processes or even the scrutiny of your credit history. In addition to this, you can be able to loan any amount for any income group provided you meet the requirements.
c) Authorised money lenders can offer priceless advice
You cannot expect much from a money lender in Singapore who is not licensed or authorised. As authorised lenders follow strict rules and guidelines, with them, you will be treated with utmost professionalism. These lenders also offer advice on the best lending plan, a suitable repayment scheme and financial management tips that will enable you to manage your money properly.
Before approaching any money lenders Visit Credit Excel Singapore, it is important to ensure that they have undergone a legitimate authorisation process. If you are hindered by poor credit scores then these lenders can be able to turn your financial situation around.