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Category: Licensed Money Lender

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24 Hours Licensed Money Lender in Singapore - Insights from Tradition Credit
  • Tradition Credit
  • September 09, 2021
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24 Hours Licensed Money Lender in Singapore – Insights from Tradition Credit

In times of dire need when you need urgent money, 24 Hours Licensed Money Lender in Singapore can help. When faced with an urgent need for money, rely on the dependable assistance of money lenders in Singapore. The Registry of Money Lenders, implemented by the Ministry of Law, meticulously oversees the endorsed roster of licensed money lenders. These reputable lenders offer a wide array of loan options that cater to the financial requirements of Singaporean citizens. Whether you require funds for personal matters, business ventures, or foreigner-related expenses, these urgent cash loans are readily accessible. What are 24 Hours Money Lenders in Singapore? Contrary to what you are thinking, a 24 hour money lender in Singapore is not someone that can disburse instant funds – nor is some entity that is available around the clock to serve you money (if you come across one, please avoid it). Instead, 24 hours imply that if you need money after their office hours, you can apply for it through their website. As we mentioned earlier, the Registry of Moneylenders laid down by the Ministry of Law in Singapore creates a list of licensed money lenders. Here, one thing you need to keep in mind is that a legal moneylender in Singapore will always ask you to visit their registered business address to avail the money. However, if you come across someone who promised to send money directly to your bank account, it means that it’s an illegal lender. What Is A Licensed Money Lender Singapore? A licensed money lender in Singapore refers to an authorized lender that operates under the regulation of the Ministry of Law. These lenders are approved to offer instant loans to Singapore citizens, Permanent Residents, and even foreigners with valid Employment Passes. Choosing a licensed money lender is a reliable alternative for those in need of urgent personal loans. These lenders adhere to strict guidelines and regulations to ensure that borrowers are protected and receive fair and transparent lending terms. When facing a financial emergency, it is reassuring to know that there are licensed money lenders in Singapore operating around the clock. A 24-hour money lender in Singapore can provide immediate assistance in times of urgent financial need. This round-the-clock availability allows individuals to access the funds they require, regardless of the time of day or night. Whether it is for unexpected medical expenses, home repairs, or any other unforeseen circumstances, a licensed money lender in Singapore can offer a reliable solution. Choosing a licensed money lender in Singapore ensures that borrowers are protected by the law and have recourse in case of any disputes. These lenders are bound by the regulations set forth by the Ministry of Law, which protects borrowers from exploitative or unethical lending practices. By working with a 24-hour money lender, borrowers can have peace of mind knowing that they are dealing with a professional institution that follows the rules and provides a transparent and fair lending experience. How to Know If You are Dealing with a Licensed Money Lender? If you find the money lender’s registered business or name from the list provided by the Ministry of Law, it means that you are dealing with a legal one. Furthermore, money lending is not allowed via text messages, social media platforms, or even phone calls. If you come across any money lender contacting you on either platform, you must shy away from them pronto. In addition, you can also examine the fraud by checking the way money lenders are advertising. For instance, a licensed money lender is only allowed to advertise on the following: Any business directory only on the online media or print On an official website wherein the list of licensed moneylenders is given Advertisements are placed within their office premises either within the exterior or inside of their offices. So, stay away from any moneylender who is advertising beyond the points stated above. Which Activities are Prohibited for a Licensed Money Lender? Any licensed money lender will never: Abuse or threaten Ask your ID and password Ask your other official documents including ATM cards Ask you to sign a blank or an incomplete Note of Contract Grants you loan without briefing the terms and conditions Process your loan via a text message or an email Withhold any part of your money without giving you an explanation Charge more than 4% of the monthly interest rate How Can You Avoid an Unlicensed Money Lender Singapore? Getting financial assistance in times of need may cause you to end up with an unlicensed moneylender. Taking advantage of the situation, such hoax money lenders further threaten or abuse and lead to many troubles. In this case, you must be vigilant about your options. Here are some tips that can help you Apply for an Online Loan Through a Licensed Moneylender Application Form A lot of licensed moneylenders today provide an online application form on their website through which you can easily apply for a loan even after their office hours. However, you may even come across illegal money lenders providing such an online application form by mimicking the logo and name of the licensed lender. In this case, you can again check the list of Registry of Money Lenders by checking the website address provided in the list. Further, if you happen to look for moneylenders on a search engine, do not click on the ads. As we mentioned earlier, licensed moneylenders are prohibited to advertise on search engines. Face to Face Verification is Crucial As we mentioned earlier, you need to visit the office of a licensed money lender for the process of loan disbursement. The team will verify your identity and get you through the terms and conditions of the Note of Contract. Furthermore, you will also be provided a copy of the contract. If you come across any moneylender who doesn’t require a face-to-face verification, you should steer clear of them. Follow the Rules on Interest Rates and Fees Unlike licensed money

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How to find the correct money lender in Singapore
  • Tradition Credit
  • August 08, 2021
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How to find the correct money lender in Singapore

With the overwhelming number of money lenders in Singapore, finding the best may be a daunting task. Hence the reason you’ll find so many people suffering under the hands of cruel, corrupt lenders or lending institutions. Therefore, it is crucial to equip yourself with the correct information before rushing to any lender for any loan facility. Some lenders may look very attractive from the face value only to realize their animosity while you are already inside the mess. To avoid this, take your time to go through several lenders before deciding who to be your financier. Below are few tips that can help you identify an excellent money lender in Singapore. Credibility When it comes to anything that involves money, you need to be very careful because things can quickly go south. Money is susceptible and needs to be handled with great care. Therefore if you are planning to take a loan, you must take time in finding the right lender. Although it might be a bit tasking to do the research, you’ll realize that it is worth it at the end of the day. The very first thing that you need to do is to assess the credibility of the lending institution. This is one of the major traits of a reputable lending institution. The best approach to evaluate this is to look for previous customer’s feedback. Whether positive or negative, try to go through as many as possible until you are satisfied that you’ve got the right image of the lender. Ensure to compare feedback from different online platforms and not just rely on one site. Loan Specialty Just like the way we specialize in areas of professional, so do the lending institutions. There are those lending institutions that are specialized in mortgage financing, asset financing, and so on. So your question should be, for what purpose do I need the money? With this in mind, you’ll be able to identify the lender specialized in the loan that you require. If you borrow from a lender specializing in the facility you need, the high chances are that; you’ll get professional guidance, obtain low-interest rates, flexible repayment terms, high approval rates, and quick turnaround time. Interest Rates Different money lenders in Singapore offer varying interest rates. Every lender has a unique way of packaging their loans to be more competitive in the market. This is the easiest factor that you can use to compare different lenders. Lookup for various interest rates offered by different lenders and pick one that is more competitive. Beware of loan sharks; in as much as you may want a low-interest rate, assess what is reasonable. Most loan sharks will come with very attractive rates only to realize later that there were hidden charges. Just go for reasonable interest rates and try to dig further if there are other hidden charges. Terms of Engagement Before signing the contract document, be sure to go through the terms and conditions. This document contains essential information that you need to be aware of.  Such information includes; repayment schedule, interest rates, consequences upon default, penalties if any, and so forth. So avoid lenders that may get you in trouble in the future. Transparency A good lender will always provide you with all the information that you require. They should provide all the details of your transactions that you can follow and understand.  They should not conceal any information that is meant for your consumption. The tips given above are a sure guide to finding a reputable money lender in Singapore. To save you the hustle of finding one lookup for tradition credit for all your financial needs. Why Choose Us? We are Legitimate Moneylenders Licensed under Ministry of Law We offer Personalized Loans Quick turnaround time High Loan Approval Rates

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Bedok Money Lender - Why Choose Us
  • Tradition Credit
  • July 07, 2021
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Bedok Money Lender – Why Choose Us

Being tight on a budget is never a good feeling, but it is inevitable. At one point in time, you may find yourself in a financial challenge. This doesn’t necessarily mean a lack of money, but you could be requiring fast cash that you don’t have at the moment. These needs include but are not limited to medical bills, school fees, utility bills, travel expenses, stock purchase, among others. This, therefore, calls for financial support from financial institutions. Bedok money lenders are not hard to come by, but money lenders such as tradition credit aim to set themselves apart by setting the bar low for anyone who requires cash. It is determined to help those in need of financial assistance. Loans Offered: Personal Loans This is a loan advanced for personal use. It doesn’t necessarily have to be spent on a specific purpose. For instance, you can use it for emergencies, travel, school fees, utility bills, and business. Features No collateral is required Wide range of uses Flexible tenure Minimal documentation Quick disbursement Flexible loan amounts Short term loans A short-term loan is a type of loan that is obtained to support a temporary personal or business capital need. As the name suggests the loan tenure is short, mostly covering a year or less. This type of loan is most ideal for small businesses or business startups who are not yet eligible for huge bank loans. Types of short-term loans – Cash Advance, Line of Credit, Payday Loans, Instalment Loans, and Invoice Financing. Features No collateral Short loan tenure Flexible Easy to acquire Quick funding time Expatriates Loan The loan is meant for expatriates. It is ideal for the purchase of a motor vehicle, consumer goods, or mortgage. The applicant should be more than 65 years old at the maturity of the loan. It is a long-term loan and can run for 15 years. Features Long loan tenure Collateral required Huge Amounts Long funding time Business Loans As the name suggests, this loan is meant for business. It can be used for startup businesses or to boost business by adding stock, increasing working capital, new projects, equipment purchase, and business expansion. Features Unsecured Fixed interest rate Flexible loan tenure Minimal paperwork Fast processing Why Choose US? Licensed Moneylenders – We are licensed Bedok money lenders, and this can be verified from the Ministry of Law’s website. We are guided by rules and regulations under the Money Lender’s Act. Simple and Fast Loan Application Process – Our loan application process is straightforward. It involves very little paperwork and details there-in are self-explanatory. It doesn’t require an expert to fill the form Quick Turnaround Time – Our turnaround time is quick. You only need a day or two to have money disbursed in your account. Customized Loans – We offer customized loans to suit the needs of our clients. We package your loan depending on your budget and ability to pay. Flexible Loan Repayment – We spread our loans into installments that our clients can meet without affecting their liquidity position For more information concerning our loans and online loan applications, kindly connect with Tradition Credit.

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