Ang Mo Kio is also called AMK. It is a residential town in the Northeast of Singapore. It is the third most populated town in the northeast region. And it is the eight most populated all over Singapore. 

It used to be a rural town that is focused on agriculture. Because the Housing and Development Board made it into an urbanized town. 

Despite it being highly urbanized, there are still parks to balance its environment. Those parks are Ang Mo Kio Town Garden East and Ang Mo Kio Town Garden West. 

There are hospitals and polyclinics in town that address medical needs. Shopping malls are all around town to provide for basic needs. They are the AMK Hub and Broadway Plaza. The other two famous shopping malls are Djitsun Mall and Jubilee Square.

There are eight primary schools and eight secondary schools. Colleges are also in Ang Mo Kio. 

For their financial needs, there are licensed moneylenders in Ang Mo Kio. 

Useful Factors in Choosing the Best Licensed Moneylenders in Ang Mo Kio

The steady rise of licensed moneylenders in Ang Mo Kio may pose difficulties to borrowers. 

Are you one of those who are confused about choosing the best for a financial institution?

Here are some factors you can consider in choosing the licensed moneylenders in Ang Mo Kio. 

Credibility

One primary factor to consider is how credible a moneylender is. You can gauge their credibility by their license. 

In Ang Mo Kio, moneylenders can only operate when the government issued them a license. That means that a licensed moneylender meets the standards once they have a license. 

Another thing that will gauge their credibility is their performance in the market. Research about the feedback of their previous clients. 

Weigh if most of the feedback is negative or positive. If most of the response is negative, then you should find another moneylender. 

One last thing to consider is their years in the market. The longer they have survived in the market, the higher their credibility of the lender.

Interest Rates

The interest rate is something that comes along when you apply for a loan. In choosing the best moneylender, you have to be meticulous with the interest rate. 

You need to make sure that the interest rate that they offer is favorable and fair. 

Provide a list of your potential licensed moneylenders in Ang Mo Kio. Compare their interest rate and choose the one that is appropriate for you. 

Payment Scheme

Are you worried about not being able to pay your due loan? There are times when borrowers may struggle financially. Some might miss the repayment date. 

To avoid this, try to discuss with your moneylender about their payment options. Those the repayment scheme that is suitable for your source of income. 

Be honest about your capability to pay the loan, so that they can make some adjustments for you. Make sure that your income is enough to cover your repayments.