Potong Pasir is particularly notable in Singapore. As of the moment, it has the longest-held opposition ward in one-party dominant.
Moreover, the area has accessible transportation means. The nearest MRT station is on the North-East line.
The housing estate of Potong Pasir is located between Toa Payoh and Sennett Estate. This lies in the Central Region of Singapore.
The best feature of the area is the moneylending system. The loans offered are always on track. Also, Licensed Moneylenders in Potong Pasir are obedient to the law. They think of the financial welfare of every client.
Try out how their lending process works.
Common Misconceptions about the Licensed Moneylenders in Potong Pasir
Residents in Potong Pasir long too have a financial partner.
Yet, they are reluctant to borrow money from money lending facilities.
A lot of hearsays are talking negative things about the money lending system.
Good thing, the Moneylenders Act is adamant to ensure lenders function legally.
So when you hear the following, don’t believe it right away.
You can always talk to licensed moneylenders in Potong Pasir. An elaboration explanation is given to every borrower.
Outrageous Interest Rates
They say, borrow money from banks. It’s the safest and most secure way.
I say, visit a licensed moneylender. They follow the stringent rules by the Registry.
Interest rates from the licensed moneylenders in Potong Pasir are regulated. The greatest rate charge is only 4% per month. Also, the late repayment fee should not exceed 4% monthly.
Through this, you can manage your expectations. No payment of outrageous charges.
Remember to take the time to research about a lender. Licensed moneylenders in Potong Pasir are compliant with the law. View their website.
No Chance for Bad Credit Borrowers
Most people believe that creditworthiness is from your credit score.
This is true. But not all lending companies based on this.
Licensed moneylenders in Potong Pasir are open to all qualified borrowers. They will check your age, citizenship and employment status.
They also review your credit history. You have a better chance if you have a good credit score. But having a low score is not a problem.
This type of lenders approves loans for high-risk borrowers. Present all the required documents. Prove that you’re a diligent payer. And you’ll be one lucky loan applicant.
Licensed Moneylender in Potong Pasir
Creates a Deeper Debt
A Personal loan application is an answer to your financial crisis. It should not be the other way around.
Applying for a loan with the reputable moneylenders resolves this issue. Licensed moneylenders in Potong Pasir layout good loan options.
Also, they discuss all the terms, conditions, and charges. Understand everything before you sign the contract. This way you know what you’re getting in too.
While loan sharks charge unbelievingly. Also, they omit some terms during the discussion. In the end, you’ll be digging your financial sinkhole.
Take time to learn all about your chosen lender. Save money and effort. Apply for a stress-free loan from the licensed moneylenders in Potong Pasir.
Requires a Collateral
Whenever you apply for a loan, an asset seems to be necessary. Banks need this to secure your loan repayment.
No asset means loan rejection. Tough isn’t it? What if you don’t have a valuable property? How can you get an approved loan?
Licensed moneylenders in Potong Pasir do not need collateral. An assurance that you can repay is enough. That’s why they check your employment status and regular monthly income.
Don’t be misled by what others say. Check the official website of your preferred lender. Read what is posted. Ask when confused. Apply when all is decided.
Spot Loan Sharks from Licensed Moneylenders in Potong Pasir
Misconceptions about the money lending industry are loan sharks' fault. Many borrowers become their victim. This causes trauma to aspiring borrowers.
Beware of the following. Avoid loan sharks as soon as you see one. Report them immediately.
An unlicensed moneylender or loan shark is never transparent.
The loan contract is quite vague. There are times that hidden charges are stipulated.
Be responsible enough. Always read your contract and understand every detail. For sure, you’ll secure a better loan amount.
Licensed moneylenders in Potong Pasir present a complete loan contract. Everything the loan officer discussed is written. Plus, they answer your questions right away. No beating around the bush.
Unreasonable Processing Fee
Expect a processing fee charged for every loan you applied. Take note that it is up to 10% of your loan principal amount.
A processing fee exceeding this is a loan shark doing. Never oblige. Also, they ask you to pay upfront. They won’t process your loan until you settle.
Ironic isn’t it? You need instant cash from them. Yet they demand payment first.
Licensed moneylenders in Potong Pasir have a different approach. Either you pay on installment or deduct it from the principal loan amount. You decide which is best for you.
The Moneylenders Act put in place all the regulations. Now and then, they check all the lending companies. Licensed moneylenders in Potong Pasir abide by the law. You are safe and secure. Take out a short-term loan with them.