Yew Tee is a residential area in the Choa Chu Kang which is located in the west region of Singapore. A large part of its residents comprises of young families and middle-income earners. Yew Tee is divided into two towns; the Limbag and Yew Tee. To meet the population of young families, there are primary and secondary schools in the place. For recreational activities, there are three parks you can go to; Limbang Park, Stagmont Park, and Yew Tee Park. There’s also a sports complex in the city for sports lovers. You can find commercial establishments like the well-known mall Yew Tee Mall. There are condominiums you can reside such as Yew Tee Residences. Aside from commercial and residential places, there are also financial facilities you can find. Included are the Licensed Moneylenders in Yew Tee. In the case of financial emergencies, you can go and ask inquiries to the moneylenders.
You can inquire to them by visiting the official website of Licensed Moneylender. Type and search in!
Here are the common queries of borrowers on Licensed Moneylenders in Yew Tee.
How to Get Personal Loan from Licensed Moneylenders in Yew Tee
Step 1: First, go to the licensed moneylender’s website. Read their repayment terms. If you want to have an idea of how much could the interest be, you can use a loan calculator.
Step 2: Register or sign up online. After registration, wait for the approval sent in your email. You may also call to set your appointment with the moneylender.
Step 3: Once you have set your appointment, bring the required documents. Make sure that they are accomplished.
Step 4: The loan officer will discuss the terms that apply to you. They will give you payment options that will best suit your preference.
Step 5: If all are settled, you can sign the loan contract. You must read and understand the contract. If you have questions, you can ask the loan officer. Also, you must get your copy of the contract.
Step 6: You can now get your funds and plan about your payments.
How to Increase Your Chance of Approval?
There are unpredictable situations that can happen to anyone anytime. One of those is the financial crisis.
One might consider applying for a loan from moneylenders in Yew Tee.
If you want to get approved by the licensed moneylenders, consider these tips:
Complete All Required Documents
Before going to the moneylenders’ office, inquire about the required documents first.
The usual required documents of financial institutions are:
- Tax Certificates
- Proof of Income
- Employment contracts
Applicants might get rejected if they passed incomplete documents. Make sure to provide them complete required documents along with the application.
Licensed Moneylender in Yew Tee
Debt Consolidation Plans
The credit history of a person matters most in financial institutions. If in case you have a bad credit history, you have to get debt consolidation plans.
You can go to a moneylender and apply for a debt consolidation plan to help you single-out your debts.
In some cases, there are borrowers get rejected if they have a bad credit history.
Though, this does not mean that you will not get approval.
Some borrowers were lucky enough of getting approved.
So if you have a bad credit score, you need to check all your lenders and find out your remaining loan amount. You can negotiate with them.
This will lessen your burden by having to pay only one simple repayment every month. This would also lessen confusion and help you keep track of your loan.
Provide Reliable Information
Some people thought that it's complicated to get a loan. As long as you give the true and reliable information, that's something you need not worry about.
The key to having a chance of getting approved is honesty. Being honest in giving your personal information.
This will show them that you are a reliable and sincere client.
Good Payment Record
Remember that your payment activities will always reflect on your credit history.
As mentioned earlier, moneylenders and financial institutions check it to review your creditworthiness.
That's why those with poor payment records are usually get rejected by a moneylender.
If you want not to get rejected in your future loans, make sure to keep a good payment record. That will ensure the approval of an application.
How to keep a good payment record? You should make repayments on time. By this, it will help you create a good credit score.
Also, don't default your loan. To avoid this and make your repayments without worry, seek advice.
Talk to your financial consultant about the repayment plans.
You can choose what best suits you.
Do not apply for a larger loan. Take note that the larger loan you borrow, the more income you need to show.
Small loans get approved easily because the lenders do not put too much risk of their money. It is also beneficial for you since it will give you the chance to pay easily even when your income is not that high.
Before applying for a loan, make sure that you have already planned well. Such as knowing the exact money that you need.
Do not ask for a loan that is higher than what you need.
Also, check the exact money that you need to prepare every month and the duration of your repayment plan.