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Licensed Money Lenders Geylang

Small Loans, Big Solutions

Access extra cash when you need it the most from your online lending partner.
Short Term Loans

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Money on Demand

Get your cash in less than 30 minutes after you signed your loan contract with us.

Trusted Transparency

From our online loan calculator to loan contract - we ensure no hidden charges!

Eligibility and Documents Needed

Loan applicant must be aged 21 years and above

Singapore Citizen or Permanent Resident

In employment

Eligibility and Documents Needed

For Self Employed

For Taxi Drivers

Geylang

Geylang is in the Central Region of Singapore. On its northern side, you’ll find Hougang and Toa Payoh. Marine Parade lies in the south, while Bedok and Kallang on the east and west. 

Geylang’s town is famous as the red-light district, housing the Geylang Planning Area with five subzones. The community expanded with residential shophouses, hotels, and restaurants. 

They include a Gay Amusement Park outside the main gate of the old Kallang Airport. They were able to preserve their culture, especially their Malay Culture. 

Geylang Serai Market is one of the most famous and busiest markets in Singapore. The district has entertainment centres like karaoke lounges and other nightlife pubs. 

Aside from that, Geylang is famous for Durian shops. The District is improving up to this day. Licensed moneylenders support the locals of Geylang and even the citizens of Singapore.

Things to Consider When Choosing Licensed Moneylenders in Geylang 

Nowadays, money lending companies are overgrowing in Geylang. Choosing where to get the best personal loan might be challenging for borrowers. 

But if you know what to do, you will get through it smoothly. So here is a guide in choosing the trusted licensed moneylender that would meet your standards.

Credibility

The first thing to do is to ensure that the moneylender has a license with high credibility. You can do a background check taking some things as your criteria. 

The Ministry of Law (MinLaw) provided the official list of all licensed moneylenders all over Singapore. You can search it through MinLaw’s website. Enlisted lenders abide by the Moneylenders Act. That said, you are safe when you transact with such licensed moneylenders. 

The money lending’s years of operation can prove that the company is stable. And there’s a high chance that they perform well in the market. And note that the longer they operate, the more reliable they are. 

Their clients’ reviews will also serve as proof of their credibility. You are in a safe institution if there are no negative reviews. 

Application Process

Once you have determined the best money lending institution for you, the next thing you need to know is the application process. Also, it includes your probability to be approved. 

Some factors can help you with your application. The first one is their requirements. Usually, moneylenders have the exact conditions. 

But there could be few differences with the required documents. Check if you can provide all the required documents. 

Another factor that you should consider is how fast the application process is. Some moneylenders grant quick loan approval. Some take a longer time. Consider as well your urgency of getting a loan. 

Think if there is a high probability of your application approval. You can weigh it by the documents that you have provided them. On their side, they will approve if they determine that they can provide what you need.

Currently, the moneylending industry is now offering online loan services. Thus, it paved a more convenient way in applying for a loan. 

Interest Rates

One of the biggest things to consider in choosing the best moneylender is their interest rate. Think is you are capable of paying the interest rate along with your loan repayment. 

Compare the interest rate of all your prospect moneylenders. It will help you choose the best one. The next thing for you to do is to convert the interest rate to its monetary value. It can give you a glimpse of the actual payment that you have to prepare.

Before signing any contract, ask your loan advisors if there are additional payments. Many borrowers could get some misunderstandings with their moneylenders because of this. 

The great thing is, Geylang money lenders offer low-interest personal loans and payday loans

Flexible Payment Scheme

As a borrower, there are times when you won’t be able to pay. To prevent this from happening, you have to ensure that your moneylender has a flexible payment scheme. Most of them offer weekly, bi-weekly, and monthly repayment term.

The weekly repayment term means you pay after seven working days. Bi-weekly means you pay every after fourteen days (two weeks). While monthly repayment term means you pay the loan within 28 days. 

You can discuss your capability to repay the loan with your moneylender. You can show them your timeline so that they can provide you with some payment options. 

Note that not all money lenders can provide you with payment options. So make sure that you choose the best one that would be convenient for you. 

Licensed Money Lenders Geylang

Useful Steps in Applying for a Loan from Licensed Moneylenders in Geylang

Step 1: Research about the Moneylenders

It is vital that before you choose your moneylender, you need to do some research. Researching will help you avoid landing on unlicensed moneylenders. 

You check your potential moneylender from the Registry of Moneylenders or MinLaw, as mentioned a while ago. They will prove the moneylenders’ legality. And it will also show if they are licensed to operate.

You can also check their background through the lender’s official website. Make sure that their site is secured. Once you see a little padlock symbol beside the “https://”, you can guarantee that the website’s secured. 

Step 2: Schedule for an Appointment

Once you have chosen the potential moneylenders, call them for an appointment. Inquire about their loan packages or loan rates. 

They might also give you a short interview about your salary, your source of income. Also, the loan officer might ask you if you have other loans from other lending institutions. 

Make sure that you will be truthful with your answers, especially about your other loans. They have access to check your loans. 

Step 3: Provide the Necessary Documents

Make sure that you have every document that they will be asking from you. You have to send the documents personally. 

For Singaporeans, you have to provide your National ID, proof of income, and bank statement. They may also ask for your proof of residency and your employment contract. 

Step 4: Visit the Office 

Once you finished with all the documents, you have to visit the office to apply for a loan. You have to fill out an application form. Make sure that every piece of information that you have provided is accurate. 

Step 5: Claim your Cash

Next, a loan officer will determine if your application is approved or not. Once approved, discuss with them the repayment schedule. Also, know their interest rate and other necessary details that you have to know. 

If all is clear after the discussion, you can get your instant cash loan proceeds.

Related Article: Food Lover’s Guide on What to Eat in Geylang

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