Singapore Financing and Loan Directory
Never before in the course of growing up have you been able to enjoy a good income the way you do now. You had just finished university and you now get a monthly income which is good and you think you have everything in the world. Still single, you want to enjoy all the money you earned and perhaps be on your way to become a successful person.
Manage your money better
Like it or not, nothing lasts forever. The money you earn today will be gone very quickly as quickly as how it came. Being single is fun but you cannot do this for too long. The money you earn today will diminish in size if not in value very soon. Do you feel like you do not need anything else now because you are earning a good salary? If you are, then you are in some real danger.
Planning your expenses
You might be in your early 20s and if you have a lot more ahead of you. But do you know that it is never too early to start some prudent financial planning? In fact, you should be planning you future the moment you start earning your first salary. No doubt you would want to enjoy yourself and spend a bit on luxury and branded goods, but you must start thinking what if your lose your income someday. What would you do then? This is the time to start thinking about what you are spending on what how you are spending. Then, work along areas that you can reduce expenses so that you can start a savings plan or better still, an investment programme.
The Best Financial Planning Directory
If all that has been mentioned above attracts your attention, then you have come to the right place. This is your first step to financial independence. You might not need a money lender at the moment but there is no harm in knowing what your options are. In fact, knowing your options will give you more space to maneuver your finances if the need ever arises.
This is the most reliable list of money lenders available in the country. Money lenders are available to help when you are in need of additional funds and it would be someone reliable and legal. Perhaps you need to find someone to help finance a small business idea of yours and do not know where to look? Maybe you are in some emergency and in need of some funding. This is where you start.
It is imperative to find out where you can get the best loans. This is because all the organizations that are giving out loans will offer one type of loan for a specific reason or another. Among the types of loans you will come across are:
Education or Study Loans
These are loan packages that are designed and specifically catered for those who need the funds for their children’s education. In most cases, it is required at the time when the child is going to college or university. If the loan is taken during the time of enrolment, repayment could be required only after graduation. However, you can take an education loan for the future of your child’s studies as well.
Hire Purchase Loans
This type of loans are offered usually for customers who are planning to buy a vehicle. If you are planning to buy a vehicle whether for personal or commercial purposes, then the hire purchase loan will be your best option. Find out which bank offers the best rates for hire purchase loans and how attractive are the repayment schedules.
When it comes to applying for a loan for your property or real estate, you need to find a bank which is reliable and truly legit. This source is the place to start that will meet any of your requirements when it comes to such loans. Learn more about the types of loans available for every type of property you are interested in, be it HDB Flats or private homes. Check out the floating rates available and make comparisons of your own.
Loans for businesses
This type of loan is perfect if you are planning to start your own business. If you are looking for startup capital or even if you are seeking additional funds to expand you current business, check out the available organizations that offer such loans. All you might need is a startup fund to kick-start your business and you are ready to go! Learn more about the best interest rates that are offered by the various banks available.
Personal loans are among the most popular types of loans available. This is the type of loan that you will need to take for your own reasons. Whether it is a sudden need of funds for travelling or if you are looking for some cash injection into your business, personal loans are your best options. Banks and financial institutions offer such packages to allow you to maneuver your finances better. Most people apply for such loans for reasons such as renovation, vacation or to clear a current debt.
Quick Payday Loans | Legal & Safe
If you are working on full-time basis, and you get your salary at the end of the month cycle, then it becomes really hard to survive the month without some extra money. In today’s fast moving world, Singapore is really an expensive country to live in. If you feel the same and believe that a short time loan will help you a lot in moving things really smoothly, then you can apply for a payday loan, which will last from 1-5 weeks.
What are the advantages of payday loans?
1. Disbursement can be done really quickly.
2. This is perfect for those, who only need small amount of loan.
3. The payment plan is pretty flexible.
4. The interest rates are very low.
5. You can get the cash within an hour.
Requirements to get the loan
1. You must be a permanent resident of this country.
2. Your age must be in the range of 21-65 years.
3. You must receive a yearly salary of Singapore $ 20,000.
4. An identity proof is also needed for this.
The legal Money-Lender companies
Besides obtaining the loan from banks and financial institutions, you can get a personal loan from money lenders. Do not be conned by many unscrupulous agents that claim that they are legitimate because they are mostly loan sharks (or ah longs). Legal money lenders are governed by the law to offer such services where they meet the requirements so that it is easier for their customers.
In most cases, you will engage them when you need a quick loan which does not require a lot of processing time. This type of loans are ideal for those not wanting to involve too much in documentation or procedures. Short-term loans are among the most common form of loans in this context. This is where you will work with a licensed money lender and it is extremely important to engage a party who is reliable, legitimate and accommodating.
Take note that legitimate money lenders are approved by the ministry and their interest rates are regulated. In fact, they are not allowed to charge fees as they like. While there are certain fees involved in processing, you can always check with the Ministry of Law if in doubt.
We offer services that will surely help you in terms of convenience. We offer a directory of all the licensed money lenders in Singapore. this is where you will find a full directory of all the registered money lenders who are regulated by the government. Learn more about who are those that offer packages like personal loans, business loans and such.
Besides offering services for those seeking money lenders, we provide the platform for money lenders as well. As long as you are registered with the Ministry of Finance, we have the perfect platform for you to find the best customers. We connect you with the customers in locations of your choice will providing you with the channel to spread more awareness of your products and services.
Applying for loan
At our platform, we offer all the information about loans that are available in the market. Apart from that, our platform is perfect for loan applications as well. All you need to do is to search for the loan provider of your choice and then you are ready to go. From there, you can then search for the coinciding loan package that you are interest in. After that, click on the Apply button and you will then be subsequently connected to the loan application process. Send in your documents via the link and you will then be contacted as to whether your loan application has been successful.
Questions you might ask
Here, you might have many questions like where to find the most reliable source of money lenders and who are the ones that can be counted on. We compile the list to help you go through this with the least concerns and worries. We ensure that you have come to the right place to find out about products and
- For education – If you are looking for a loan to finance your child who is studying, entering to university or to pay your school fees, this is where you can start. From long term to short term loans, check them out here
- Loans for vehicles – whether you are buying a car for your personal use or for commercial purposes, check and see which hire purchase loans are most suitable for you. Learn more about the duration of the loans as well as any other issues involved
- Loans for property – This list gives you all the information you need about financial providers to help finance a house, a shoplot, a commercial property or even a piece of land. As long as it is a real estate product, this is where you can start. Check out what the current base-lending rates are and who provides them
- Loans for businesses – This is the ideal place to start looking for loans if you are planning to start a small business, an entrepreneurial business or your own startup. Find those who can help you start your business with the capital size of your choice and get started immediately.
- Personal loans – You can find a list of personal loans here available for application if you like. For your own personal use, no questions are asked as to why you need the money as long as you pay them back as scheduled
How to choose the best moneylender
Remember that it is a tedious process in choosing your moneylender. In fact, there are some issues that you need to consider heavily before deciding on anything. This includes the following:
- License – The moneylender you select MUST be licensed. There is no two-ways about this. You should ensure that you are engaging someone who is recognized and accredited by the government which is under the purview of the Ministry of Urban Wellbeing, Housing and Local Government. Once you have selected a legitimate registered moneylender, it simply means that they have met the legal requirements as stipulated by the government. This is a good thing because you can always check with the authorities should any disputes arise.
- Terms and Conditions – You need to always refer to the Terms and Conditions in borrowing money. In fact, it should be among the first document to review before signing anything. As the name implies, it is your point of reference every time. This is the document that includes all the crucial information including repayment plan, interest rates and borrowing period, among others. The Terms and Conditions are usually designed to suit your needs and financial repayment ability. So, it is catered only for you and should not be generic. Remember that this document is the contract you signed and MUST be agreed by both parties to be legally binding
- Fees and charges – There is bound to be some form of fees or charges involved when you borrow money even from moneylenders that are registered and legitimate. There is currently no strict regulation on what these fees are like. Hence, each moneylender could have a different fee for their services. This does not mean that you are bound to pay whatever is charged. It is your legal right to know what the service fees are and how much they entail before deciding on anything. The best thing to do here is to make comparisons with other moneylenders before making your final choice
- Significance – when selecting your moneylender, choose one with a good reputation or one with high significance. After all, you will be disclosing your personal and confidential information with them and you need to ensure that you enjoy the relationship. Check out reviews of customers who have worked with these moneylenders and if you need to contact them and learn more about their experience. The reputation works wonders here because that’s probably your first impression before proceeding further.
When borrowing money, there are certain issues that you should be aware of and know:
- Borrowing Period – This usually range from as low as 2 months and could go up to 3 or 5 years. Most moneylenders would be happy to lend you for 12 to 24 months
- Interest Rates – This can be a fixed rate between 7 to 15% depending on the moneylender. In most cases, the interest rate could be lower if you borrow for a longer period of time while it will surely be higher if you borrow for a short term. Some moneylenders will lend you the amount on a BLR (Base Lending Rate) basis. This mean that there is a principal interest rate of X% (usually 5) plus the current BLR in Malaysia (around 6-8%). This means your interest will be 5% + 8% = 13% for that month.
As a professional lending outfit, we advise that borrowers are aware of factors to consider when obtaining a loan. Here are some factors that you should cross check prior to borrowing.
Borrow what you can afford to pay only
Prior to taking up a loan with any money lenders, you should know your own financial limitations, consider what other obligations that are currently tying you down and ensure that you have enough room to move.
Pay in a timely manner to maximise your benefits
Being early or punctual for your payment can save you unwanted fees that you may incur if you pay late. Make a checklist of your current debts and due dates to help stay in tune with your repayment dates.
Know the terms of your loan
We advise that you ask us any questions when in doubt, especially when it comes to the terms of your loan agreement. This will ensure an optimal borrowing experience with any money lenders.
Do i qualify for a loan?
You are eligible to apply with any money lenders if you are:
A Singaporean Citizen, Permanent Resident or Foreigner
Aged 21 years and above
Have Full-Time Employment
What is the maximum amount of money i can borrow?
You may borrow up to a Maximum of twice your monthly salary
What do i need to present upon application?
For Singaporeans and PR
- Last three months payslips
- Past 15 months CPF Contribution Statements
- Income Tax Statements
- Original Utilities bill or HP bill (Show Proof of Address )
If you are a Foreigner working in Singapore
- Latest 3 months payslips
- Tenancy Agreement for rented property
- Bank statement showing salary crediting
- Employment Contract/ Appointment Letter
- Work Pass (S-Pass or Employment Pass)