Katong is also called as Tanjong Katong. It is a residential neighborhood in the Central part of Singapore.
The place is situated by the sea. But because of land shortage, Katong reclaimed lands some of East Coast Park. This is to produce more land for housing and recreational.
It is home to several villas and mansions from rich elites in Singapore. The elites used their riches to built seaside resorts, villas, and manors.
There is a diverse rich culture in Katong that leads to their unique cuisine. Most of their restaurants serve Peranakan Cuisine and Katong Laksa. Katong Laksa is a spicy Chinese noodle soup.
Because of its rich resources, Katong has many high-rise apartment blocks. There are traditional shophouses and Peranakan terrace houses. The shophouses are converted into cafes and specialty houses.
Keys to Choosing the Best Licensed Moneylenders in Katong
Choosing the best-licensed moneylenders by yourself could be tiresome. There has been a wide array of moneylenders in Katong.
Here are some key factors when choosing the best-licensed moneylenders in Katong:
As a borrower, you need to ensure that your moneylender is dependable. By choosing moneylenders, you can measure its dependability.
You have to choose licensed moneylenders because they abide by the Moneylenders Act. It is a law that the Singaporean government provided for the lending industry.
Licensed Moneylenders can operate only if they operate following the government's requirements.
The moneylender can get a license to operate is when they follow the requirements.
Knowing that your moneylender offers safe services will give you comfort. Since you know that you are protected. In times of conflict, you can turn to the authorities for help.
Terms and Condition
The terms and conditions of the moneylenders should be fair. It should address your needs. Make sure that your moneylender is flexible.
The terms and condition is the blueprint of your contract. It is a legal agreement between you and your moneylender. Ensure that you understand all the terms and conditions.
If there are unclear information in the terms and condition, do not be hesitant and ask the loan officer.
Moneylenders usually charge their borrowers for personal loans aside from other charges. Before signing the contract, ask them about all the charges and payments.
Choose the one that is suitable for your budget. Remember that some moneylenders may ask you for additional charges. And that is something that you need to be aware of.
Your moneylender’s reputation is one of the most important key factors in choosing the best one for you.
To assess your moneylender’s reputation, you can read reviews. Reading reviews can give you a spot-on insight about your potential moneylender.
You can compare the moneylenders’ performance by their customer service. You may also take the length of their service as a basis of their reputation. The longer that they are operating in the market, the better their standing.
Licensed Moneylender in Katong
Types of Loan that You Should Know
Choosing the best loan for you should coincide with your needs. Are you having difficulties finding the best loan from licensed moneylenders in Katong?
Here are some types of loans that you can consider in choosing the best loan according to the purpose.
A payday loan is created to address your financial needs around your payday period. It is usually used to pay bills when your next payday is still about a week or two away. If your budget is not enough to cover all your expenses, you can also get a payday loan.
A personal loan that is flexible and is the most trusted loan for Singaporeans. It is usually used to cover unexpected bills or for other purposes like opening up a solo business.
There is a continued rise in the cost of living in Singapore. Because of these many are struggling about keeping up with their living expenses. In times of financial shortage, they can turn to moneylenders and ask for a personal loan.
Are you a foreigner living in Singapore?
You don't have to worry. There are various options you can have the same with the citizens and residents of Singapore.
If you need financial help and you are working in Singapore, you can get a foreigner loan. Applying for foreigners isn’t as complicated as most foreigners think.
Aside from that, the terms are convenient for you.
Do you have plenty of debts or credit card debts? Worried about not being able to pay them off?
Getting a debt consolidation loan is the best answer to this. It's a loan that combines all your credit cards and personal debts into a single payment. It comes with fixed monthly payments.
By getting a debt consolidation plan, it will be more convenient for you to track your debt. There will be a lower chance to miss your repayments since there is only one you need to think about every month.
It provides better interest rates compared to having various existing debts and loans. Another advantage is that it will be easier for you to organize your finances.
Do you want to sell your property to buy a new one?
Are you waiting for your properties to be sold?
Worried about your downpayment for your new property?
A bridging loan can assist you in this situation. It bridges the monetary gap during this period. At the same time, it can raise your capital and clear up payments for your new property.
You can use this loan as a downpayment for your new property while waiting for your old property to be sold.