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Licensed Money Lenders Chinatown

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


Lying in the Singapore Central Area, Chinatown is a vibrant contrast to the rest of the city. You will see low rise buildings along the streets bursting into the culture.

Add to that the fragrant smells of traditional cuisine up to the bold red and gold tones that run through the neighbourhood.

Chinatown is a proud area of heritage. You can see ornate Chinese, Buddhist, and Hindu temples and museums. Not only that, it houses trusted moneylending facilities for its residents. Top on the list is the Licensed moneylenders in Chinatown.

Check out why. 

Why get a Personal Loan from the Licensed Moneylenders in Chinatown?

Are you confused about which lending institution you should approach? 

Try out the licensed moneylenders in Chinatown. Their loans are at the top list of Singaporean borrowers.

No Collateral in Chinatown Money Lender

Unsecured personal loans do not need an asset to qualify, unlike secured loans. However, unsecured loans incur high interest rates. 

For example, you take a secured loan and pledge your home property as your collateral. If you become insolvent, the debtor will assume your home property as full payment for your outstanding loan. 

But if you take unsecured instant cash loans, you don’t need to pledge any asset. You have to repay your loan. If you become insolvent, the moneylender will not bother asking you to repay it. The only risk you’ll get in unsecured loans is the high interest rate. If you fail to repay the loan, it will affect your credit score. 

The tip is, you should repay your debt on time. Some lenders reward reliable borrowers with privileges with your future loan plans. 

Good Alternative

Do you have a low credit score? Why not consider an online personal loan? It is also considered a flexible loan and offers low interest rates and fees. 

Taking a short-term personal loan can help increase your credit score as well. The moment you take out a loan and pay it on time, you started building a healthier score for yourself. 

Licensed moneylenders in Chinatown don’t disqualify borrowers with low credit scores. Despite the high risk of lending them money, they find a way for the borrower to pay on time. With flexible repayment terms, a personal loan is the best option.

Cost Less

Personal loans have lower interest rates that make the monthly repayments manageable. Compared to credit cards, which have eater interest rates. 

Last May 2019, the Federal Reserve data showed that the average credit card interest rate is 15.09%. In comparison, a 24-month personal loan is 10.36%.

Because of this, it proves that taking out a personal loan from licensed lenders fits your budget.

Continuous use of credit cards can dig a deep hole in debts. Instead, you can look for a licensed moneylender in Chinatown. Inquire and get to the what loans and other services they offer. 

Cover Emergency Expenses with Chinatown Money Lender

Aside from renovation purposes and wedding costs, you can use a personal loan for emergency purposes. 

Six out of ten Singaporeans have an emergency cost that they could not afford. It could either be emergency medical expenses or car problems. It could also be an unexpected increase in utility bills. 

Get a personal loan from legal lenders. It is way cheaper than using a credit card. It saves your credit score and money. You can search for a licensed moneylender in Chinatown and know why.

Ask yourself if it’s essential to take out a loan. If yes, choose a personal loan from trusted and reputable lenders in Singapore.

Licensed Money Lenders Chinatown

Discovering Licensed Moneylenders in Chinatown Against Loan Sharks

Different lenders pop out as the lending industry grows. However, the probability of encountering fraud lenders or the so-called ‘loan sharks’ is high.

Singapore regulated the lending industry through the Moneylenders Act, strictly followed by all lenders.

The purpose of regulating the said industry is to ensure that certain moneylender does not abuse people with high interest rates and other unnecessary charges.

It is better to be wiser and smarter in choosing a licensed moneylender because they will keep your finances and expenses manageable.

Here’s why.

Complete and Detailed Contract

A Note of Contract is an important document in your personal loan application. It serves as your protection and must be kept with the utmost care.

When you’re approved, you have to sign a contract. But could you read it first with full comprehension? Ask questions if something’s unclear to you like some confusing statements or clarifying the charges.

Chinatown money lenders elaborates on all the details written in the contract.

Anything that you have agreed upon your loan, including the total amount of loan, interest rate, penalty fees, and other fees, is in the contract.

While loan sharks do provide unclear contracts or sometimes ask you to sign an incomplete form, do not accept their request.

Borrower’s Note of Contract

You must have your own copy of the Note of Contract.

Like the licensed moneylenders in Chinatown, every trusted lender is expected to provide a copy to its borrowers.

You must check if it is duly notarized and signed by both the lender and the borrower. 

You must also read it if it is similar to the original contract you signed.

Contrary to this are loan sharks. They don’t provide a contract copy to their borrowers. They reason out for possible delays. But in reality, they do not provide. 

Remember, the Note of Contract is your security for the personal loan you have applied for.

Always ask for your copy. 

Less Stringent Document

Applying for a payday loan nowadays is quite easy. There’s no need to fulfil the long list of requirements.

You have to present the mandatory requirements.

Licensed moneylenders in Chinatown require you a personal identification card, proof of income and SingPass. 

These documents are very accessible. You bring it with you every day. Complete the requirements within hours before you proceed to the lending office.

On the other hand, loan sharks say that their loan process is easy and only requires a single document. Don’t be fooled by them.

Remember, licensed money lending institutions need to check and investigate the client’s background. This is to assess the client’s credibility if they are trustworthy and capable of paying the loan.

Processing Fee

For every loan application, a processing fee is required for the loan. But this does not mean you have to pay it upfront. 

Here in Chinatown money lenders can give you some options. Either you pay the processing fee in instalment or deducted the loan amount.

Weigh your options before you decide. 

What loan shark’s doing is they will ask you for an upfront payment of the processing fee. How will you pay the fee when you’re there to borrow money in the first place? 

Usually, unlicensed moneylenders do charge an enormous fee. 

Keep in mind that the permitted maximum amount of fee is 10% of the principal loan amount.

Related Article: What to Eat in Chinatown: 7 Delicious Food to Try

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