Katong

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:

Accreditation

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.

Fees 

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.

Reputation 

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.