Serangoon is a residential town in the northeastern part of Singapore. It is bordered by Sengkang to the north and Ang Mo Kio and Bishan to the west.
It has seven (7) subzones. These are Serangoon Central, Lorong Chuan, Upper Paya Lebar, and Serangoon Garden. The other three are Serangoon North, Seletar Hills, and Serangoon North Industrial Estate.
For convenient public transportation, provided are the public buses and MRT.
There are several school institutions for secondary and tertiary students.
NEX is the biggest mall in the region. It offers retail and dining options for residents.
Also, there are local restaurants in Serangoon which offer various cuisines. Like Chomp Chomp Food Center, Serangoon Garden Market, and Food Center.
Several supermarkets are in place. You can go to Cold Storage, Sheng Siong, and NTUC Fair price outlets. Residents live in HBD condominiums and apartments.
There are also terraced houses. The residential areas are suitable for families, couples, professionals, and singles.
For those residents who are struggling financially, they can seek from moneylenders. There are several licensed moneylenders in Serangoon.
Simple Steps in Getting a Loan from Licensed Moneylenders in Serangoon
To accommodate borrowers in their application, here are some steps that you can take:
Step 1: Search for Moneylenders
Since there are several licensed moneylenders in Serangoon, you can search for them. Remember that licensed moneylenders do not use social media for advertisements.
You have to search for their website to be able to get insights about them. If you saw a moneylender that is using social media for advertisements, be careful. They might be loan sharks.
Step 2: Identify Your Loan
Since you already chose one of the licensed moneylenders, it's time to think of what type of you need.
There are several loan types. Read or study them. Make sure that they can address your needs.
Step 3: Application
The next step for you to do is to fill out an application form. Remember to provide them all the information that is truthful about you.
They use it to verify your identity. So don't even think of falsifying information about you.
Because if you did, you will lose your chance to get a loan in the future.
Step 4: Approval
You can now wait for approval right after you fill out the application form.
The waiting time for approval is short. So you can just sit, relax, and wait.
Once you get approved, you can now proceed to the next step.
Step 5: Verification
A representative from your licensed moneylender in Serangoon will verify your identity.
They will ask you to visit their office. Representatives will talk to you or clarify information about you.
Licensed Moneylender in Serangoon
Step 6: Requirements
After verification, they will ask you to complete a list of required documents.
Make sure to complete all the necessary documents. You should keep the original copy of your documents for safety and security.
Step 7: Interview
The representative from your moneylender will interview you. Answer all their questions honestly. In this step, they will also discuss the repayment terms and conditions.
They will also tell you to sign a contract. Clarify every data that is questionable for you. Also, make sure to get your copy of the contract for your future reference.
Step 8: Loan Cash
Once everything is set, you can now receive your loan. You can now also plan for your repayment. Do your obligation and pay on time to maintain a good credit score.
Types of Loan from Licensed Moneylenders in Serangoon
Are you familiar with the types of loans that moneylenders offer?
If you do not know the best loan that would cover your needs, here are some of them that you can take into consideration.
If you have a bill that needs to be paid immediately, you can ask for a payday loan. A payday loan is a short-term loan. It only covers expenses that should be paid until the next payday.
A personal loan is also used to cover urgent financial needs. But with a personal loan, you can use it to pay for your property or assets. It is popularly used for education and other personal expenses.
Are you planning to upgrade or expand your properties? Are you worried about your future expenses while your property is on sale?
You can use your bridging loan to cover your expenses while your property is still up in the market. You can also use it to buy a commercial property. But take note that bridging loans usually have a higher interest rate.
Do you have many debts from other moneylenders or credit cards? Are you worried about not being able to pay them all?
Debt consolidation is the answer for your concerns. This type of loan can combine all your balances into a single loan.
You can get a low-interest rate with debt consolidation.
Tracking of your repayment due will be easier for you since it is all summed up. You'll be focusing only on a single debt with the help of debt consolidation.
Knowing about the types of loans is important. It will give you an idea of getting the best loan for your needs.