Advisory
Licensed Money Lenders Punggol
Small Loans, Big Solutions
Access extra cash when you need it the most from your online lending partner.
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
- Identification Card (NRIC)
- Singpass Login
- Proof of billing ( Any latest bill indicating residential address)
- Latest 3 month original payslip (Only applicable if there is no cpf contribution)
- Letter of employment (Only applicable for new employment)
For Self Employed
- Identification Card (NRIC)
- Singpass Login
- Notice of assessment (NOA indicating trade income)
- ACRA (Accounting/Corporate Regulatory Authority)
- Proof of billing ( Any latest bill indicating residential address
For Taxi Drivers
- Identification Card (NRIC)
- Vocational license
- Taxi pass
- Min 7 days job summary
- Proof of billing ( Any latest bill indicating residential address)
Punggol
Punggol is also spelled as ‘Ponggol’. It is a new town in Tanjong Punggol, which is in the northeast region of Singapore. The place links to other cities because of the accelerated transportation system.
There are commercial facilities in the place. The Punggol Plaza in the Coral Edge LRT station is the first shopping mall in town. It contains supermarkets and food courts.
The Waterway point is the largest mall in the town. It features the first underground and largest cineplex. Residents and people can learn about the heritage of Punggol.
Oasis Terraces is a neighbourhood centre in Punggol. It also has the Punggol Polyclinic.
If people are looking for recreational centres, Punggol has them. They can go to Punggol Waterway Park. It is a riverine park that provides for leisure activities.
SAFRA Punggol Clubhouse is a five-story recreational centre. It features an indoor water playground and a childcare centre that is eco-themed. It also offers other amenities like a gym, bowling alley, and a karaoke outlet.
Aside from all those features, Punggol also has reputable educational institutions.
Licensed Moneylenders in Punggol provide help to residents and locals. They usually help people who are struggling with finances.
Things that Ruins Your Credit Score
Are you worried about not getting a loan from licensed moneylenders in Punggol? Most moneylenders in Punggol check your credit score. And they base their decision, whether to approve or not, on your credit scores.
Here are things that you need to avoid, not ruin your credit score.
Several Personal Loans
Having too many personal loans is a “no-no” for licensed moneylenders, especially short-term loans. It will give a notion to the moneylender that you have financial desperation.
For example, you took an instant cash loan a month ago to pay your existing debts. Yet your loan amount wasn’t able to meet your financial obligations. So you decided to take a payday loan.
Be sure that you have already calculated your needed loan amount before applying for a low-interest personal loan.
Most borrowers happen to do this when they do not know that their first loan is insufficient.
Late Repayments
As a borrower, try to be diligent with your repayments. Late repayments reflect directly in your credit rating. Your future licensed moneylenders in Punggol can see it.
If you know that you might be late with your payments, talk to your moneylender about other options that you can do. It will help prevent ruining your credit score.
Poor or No Credit History
Your chance of getting a loan is low if you have a poor rating or do not have any credit history. Licensed moneylenders in Punggol use the credit score as a basis for loan approval.
If you do not have a credit history, they have nothing to base their decisions on. They will not know if you are a borrower that they can trust.
Licensed Money Lenders Punggol
Factors to Identity Loan Sharks
Alongside the rise of licensed moneylenders in Punggol are loan sharks. They violate the Moneylenders Act provided.
They target low-income borrowers. They look for those who are desperate to get loans.
Are you bothered that you might be negotiating with a loan shark? Do you know how to identify loan sharks?
If not, here are some factors that you are dealing with a loan shark.
Easy Loan Process
Licensed moneylenders in Punggol usually ask for requirements on your application. They will use it to validate if you’re a trusted borrower.
If you are dealing with someone who is not requiring you to pass some documents, they might be loan sharks. They use the easy loan process to lure desperate borrowers into their scheme.
In dealing with moneylenders, make sure that you have understood your loan agreement.
Soliciting Loans
Loan sharks are desperate in getting your attention. They will try to do anything to get you into their trap.
They might send you ads through email or maybe make a cold call on you. At the same time, some aggressive lenders give pamphlets in public. Beware of social media advertising. It is how they lure borrowers nowadays. If you happen to encounter such kind of promotions, stay away from them.
As per the law mandated by the Ministry of Law, licensed moneylenders can only advertise through their official website. They will post some advertisements limited only to the company’s perimeter.
Changing Loan Agreements
Licensed moneylenders are strict with their loan terms. They adhere to each loan term and are clear about them.
They will discuss everything with you without making changes.
If your moneylenders make sudden changes with the loan term, be careful. You might be dealing with loan sharks.
Most of them do not explain the terms and conditions of your loan.
Some may discuss some terms with you. But when you start asking them questions, they cannot provide you with answers.
Some may even avoid your questions. They offer you other things instead that will make you forget about your questions.
Threats and Intimidation
Licensed moneylenders in Punggol will never give threats or harass their borrowers. In case a borrower cannot pay for a particular month, they will provide them with options.
They will discuss with their borrowers some other options for them to pay their loans.
That is not the case for loan sharks. They tend to threaten their borrowers through emails or SMS. Worst case scenario, some loan sharks resort to violence.
For you to prevent dealing with loan sharks, ask for a moneylenders’ license. Also, check if they have a physical office. Go to their office to make sure you are dealing with the licensed moneylenders in Punggol.
Be sure that you have a clear understanding of all the loan terms and conditions. It will protect you and avoid future disputes.
Related Article: A Guide in Mouthwatering What to Eat in Punggol
