Licensed Money Lenders Jurong
Small Loans, Big Solutions
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.
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
Eligibility and Documents Needed
For Self Employed
For Taxi Drivers
Jurong is well-built in the country with several infrastructures in the surroundings.
MRT, Bus Interchange and Private Expressways serve the place that residents can go around the town conveniently.
Notable shopping malls like Jurong Point Shopping Mall and IMM in Yuhua are visible. Buying your essential goods won’t give you any hassle.
For leisure travel around Jurong’s place, you can visit the best tourist spots like the Snow City and Singapore Centre. You can also try going to Singapore Discovery Centre and Jurong Bird Park.
Various industries lie in the beautiful place of Jurong, and that includes the financial sector. Residents of Jurong are slowly becoming more financial literate with the services offered by the licensed moneylenders in Jurong. The said facility provides the top online loan services in Jurong.
Get all these services when you visit Jurong.
How does Licensed Moneylenders in Jurong charge?
Have you wondered if licensed moneylenders in Singapore have the same interest rates?
Well, the answer is “No.” Moneylenders offer different interest rates but not exceeding what is stated in the Moneylenders Act. It’s a law mandated by the Ministry of Law, provided to protect licensed lenders and borrowers.
According to law, a licensed lender can charge up to 4% per month, regardless of the borrower’s income and type of loan. Add to that, another 4% per month is charged for every loan repaid late. Take note that the percentage is the maximum limit already.
Trusted moneylenders in Jurong are considerate with their borrowers. Loan officers explain all of these before you finalise your loan application.
Are you confused about how they compute your interest rate? Here’s a better scenario.
The basis of the interest incurred on your loan is the principal loan amount. Note that your total payments directly deducted from the principal loan amount.
Let’s say you took an ex-pat loan amounting to $10,000.
Your initial repayment amount is $4,000. Therefore, the remaining $6,000 is taken into account for interest rate calculation. If you fail to pay on time, a different rate is charged to your account.
Another example: You took a payday loan amount of $10,000 from a legal lending facility. On the first instalment, you fail to pay the amount of $2,000. The lending company can only charge the late interest on $2,000, disregarding the remaining $8,000.
Licensed moneylenders in Jurong only charge the outstanding amount for the month. They can not set on the due to be repaid in the subsequent months.
If you fail to pay your due amount in February, your late interest rate is for this month only. The remaining balance for March is not affected.
Be equipped with the correct information before you proceed with your loan application.
Jurong licensed moneylenders are known for their transparency. They clearly explain and elaborate on how charges are applied.
See it for yourself. Send in your online loan application on the money lending’s official website.
Related Article: What to Eat in Jurong: Top Halal Certified Food
Repayment Tips by the Licensed Moneylenders in Jurong
Missed payments and late repayments are manageable. If you have the proper technique, you can always pay on time.
Licensed moneylenders in Jurong cited some repayment tips for you. You might consider them for your future financial needs.
Pay on time
On-time payment is the best solution to avoid incurring penalty fees.
Aside from that, you can take out a new low-interest personal loan once you completed your financial obligations. This way, you are on the right path to building a healthy credit score. Nice, isn’t it?
Add to that, the chance of a more extensive loan amount is possible. Your lender records your on-time payment behaviour. In short, it makes you a low-risk borrower. Money lending companies will trust you more with a high loan amount.
Pay ahead of time
You don’t have to wait for the due date before you repay. Licensed moneylenders in Jurong accepts early repayment without penalty.
There’s a pre-termination fee charged to anyone who wants to settle it earlier in other lending facilities. But not with the legit lenders in Jurong.
You can save more money from interest rates. Plus, it lessens your financial obligations. Make sure you are financially equipped when you early terminate your repayment. Don’t jeopardise your other financial obligations.
Set an alarm
Once you know when is your repayment schedule, set the alarm on your phone. This way, you’ll get yourself reminded about your financial responsibility.
Set the alarm on your mobile phone at least 3 to 5 days before your due date. So, you have ample time to prepare and budget your finances.
Also, you can put it in your planner or calendar. Every time you browse your schedule, you can see the nearing due date.
Pay online or offline.
You’ll get two options in repaying your loan. It’s either through online payment or offline payment.
The majority prefers online payment – less hassle. No need to line up at the cashier. No need to carry a considerable amount of cash.
With licensed moneylenders in Jurong, you can make payments with PayNow. It is the most popular online payment in the place.
But some traditional payors prefer to pay offline because they can track their payments more in this way.
Visit the lending office on or before your due date. Give your cash payment and wait for your official receipt.
Keep Official Receipts
Keep your receipts every after your payment. It’s the simplest yet most neglected obligation to do.
The Official Receipts are essential references. You can also see how much you have paid off on your loan.
If your payment method is online, you can still receive a virtual receipt through your email. Save it. It works the same way as the Official Receipt issued by the cashier.
Licensed moneylenders in Jurong emphasise the importance of on-time repayment. It keeps you from paying more. The earlier you settle your loan, the lesser you’ll pay.
If you plan to take an instant cash loan, it should be well thought of. Don’t decide without proper knowledge. Estimate how much you need, the interest rate charged, and other fees included. Feel free to seek help from a professional loan officer. Ask if there’s something unclear to you.