A licensed money lender Singapore has been around the country for many years. With number of individuals and businesses needing faster financial source for their specific uses, there is no doubt that its number continues to rise. Many people have tried and tested the reliability of a money lender. Most of them have appreciated the benefits it provided them. However, there are still some things that remain latent to them unless they read this page.
Distinctions Between A Singapore Moneylender and a Loan shark
For many years, a loan shark has been a part of the lending industry in Singapore. Although some individuals and businesses perceive this to be helpful, it still has a big difference when compared to a money lender.Licensed money lenders mainly have advantages over loansharks on two areas: the set rates and the guaranteed lending. The set rate refers to the fact that since a moneylender complies with the law, contract and interest rate offered is already set. This implies that you are safe when it comes to a trusted and reliable lending agreement. On the other hand, moneylenders honor the things that they can render to borrowers who are qualified for the given service. This also means that a licensed lender will take responsibility in you.
Good Things Received from Legal Personal Loans
The main advantage of getting a personal loan from a legal provider is that you can borrow a certain cash amount that is up to four months of your monthly salary. Repayment is much easier and simpler since this has lower interest rate.
Furthermore, you can also get your needed cash a little faster. This simply means that you can easily resolve your financial issue and get started right away. With the presence of a licensed money lender Singapore, you will have peace of mind.