Trust Only The Licensed Money Lender In Singapore

When you are going from one agent to another, trying to decide whom to choose for financial help you need, it is very important that you know whether they are licensed or not. A licensed money lender in Singapore is best to trust during emergency times. They are registered under a central authority, and only practice legal business with all their customers. They have a fixed place of business and so, you can find them there whenever you want. They have absolutely convenient and fixed rates of interest for each type of loan. They deal in secured as well as unsecured loans. The central body that heads all licensed moneylender agency is responsible for any rules and policies framed and, all of the agents are bound to follow only these.

Know them better

Do not trust just anybody because their offers seem to be more attractive. These are sensitive financial dealings that require a lot of formalities and responsibilities from both parties. A licensed money lender in Singapore will never hurry with his proceedings. He will first make sure you are provided a brochure, along with all rules and regulations that you would have to abide by. Once you give your consent, he will ask you for an application for loan after which, you will be handed over with a contract bearing all necessary terms and conditions that make up the contract. You have to go through this very carefully and ask for explanations wherever needed. Only after the completion of this step, he will ask you for a number of documents as proof of your dealing. You are to present the duplicate copies of these along with a copy of the signed contract after which, you shall receive the agreed amount.

Requirements for loan purpose

When you have applied for a loan, you will have to be prepared with certain general and official documents that are essential for loans. A Licensed Moneylender In Singapore will never ask for any of your personal passwords or accounts or, disclose them without your consent. The commonly required documents are your identity proof in the form of any employment pass, driving license or any other valid ID, your address proof, the proof of your salary in the form of salary stubs and slips to assure the moneylenders that you are capable of repayment. 

When you have already decided to approach a moneylender for your financial need, it is important that you only choose a reliable and reputed money lending agent. The mark of assurance is their registration mark and license of trading. Approaching a Licensed moneylender means safe dealings, fixed rates of interest and ethical procedures. The money lending industry has now come up to your rescue to prevent you from falling into the trap of immoral people exploiting needy people, by means of their unethical business practices. A licensed moneylender is a one- stop solution for all your financial assistance. They have a solution for every need of yours, no matter how big or small it is.

Verify to know more

When you have already approached a money lending agent, you might be confused whether you have chosen the right person or not. With a few tricks and smart knowledge, you can double check your choice. When you approach a Licensed moneylender, he will never use abusive language and, will talk to you in a cordial and formal manner. He will never demand any sort of personal account details or passwords from you. A photocopy of necessary documents is only what he will ask for and not the original documents under any circumstances. An ethical or licensed moneylender shall never force you to sign on an empty contract or, force you to sign in a rush even before you have finished reading the contract. He will never retain any of your official documents or force you for advance payment of interests.

Know your rights

As a customer or a borrower, you are also entitled to a number of powers if you feel you are being cheated. When you approach a Licensed moneylender and get your loan, it is important that you check with the contract once again for all terms and rules. You can move the court legally against the money lender against any act of breach of contract. Such cases might be when you find out you have given lesser amount of principle money than you had agreed for or, he has added terms into the contract without your consent.