20 10, 2017

Should You Risk Your Paycheck on a Payday Loan?

2017-10-20T11:51:28+08:00October 20th, 2017|Categories: FAQs, Money Lender Singapore, Payday Loan|Tags: , , |

Have you ever wondered why it seems that every time you are doing your best to save more money and grow your bank account, things come your way and cause you to spend what you have saved? You probably even feel as though your bank savings is almost like a shattering fortress, and it is always facing assault from tough [...]

10 10, 2017

Personal Loan: Approval Checklist You Must Have

2017-10-14T22:59:10+08:00October 10th, 2017|Categories: FAQs, Personal Loan, Personal Loan Singapore|Tags: , , |

When tough financial situations arise, this can cause you so much stress and anxiety. There is the concern on where to find a reliable source of extra funds, which of course, you need to get fast. After all, your expenses and unpaid bills cannot wait any longer. Otherwise, you run the risk of enduring massive penalties and fees for delayed [...]

19 05, 2017

What is Payday Loan And what exactly are Payday Loan Lenders?

2017-09-05T23:17:01+08:00May 19th, 2017|Categories: FAQs, Licensed Money Lender, Money Lender Singapore, Money Lenders, Payday Loan, Personal Finance, Personal Loan, Personal Loan Singapore|

They say money makes the world go round. At first, I doubted the significance of the line for it appeared too straight-forward and arrogant. But come to think of it, it's really true regardless of how you look at it. Money is vital and most often than not, we run short of it. What exactly do you do when you [...]

20 07, 2014

What are the fees that moneylenders can charge?

2017-05-14T15:47:22+08:00July 20th, 2014|Categories: FAQs, Licensed Money Lender, Loan Singapore, Money Lenders, Personal Finance, Personal Loan|Tags: |

There are six different types of fees that moneylenders are allowed to charge their clients, which is applicable beginning June 1, 2012 (according to IPTO). These fees including the following: For late payment of interest or principal amount loaned For any changes in the loan contract terms made upon request For dishonoured cheques you have issued For failed GIRO deduction [...]

19 07, 2014

How to determine if the lender is licensed or not?

2018-05-16T19:02:28+08:00July 19th, 2014|Categories: FAQs, Licensed Money Lender, Money Lender Singapore, Personal Loan Singapore|Tags: , , |

The rule of thumb is to never take out a loan to an unlicensed moneylender. You should first verify whether the lender is licensed or not by going through a list of moneylenders that are legitimate and reputable. (Click here for a list of moneylenders licensed in Singapore) Here are also a few ways to check if the lender is [...]

18 07, 2014

What factors to take into account before I consider applying for a loan?

2017-05-14T15:47:22+08:00July 18th, 2014|Categories: FAQs, Licensed Money Lender, Personal Finance, Personal Loan|Tags: , , , |

Before you decide to take out a loan, you should keep these essential aspects in mind: Prior to choosing the best moneylender, make it a point to study your options including different financial assistance programs provided by government agencies. It may also help to contact these agencies directly, so you can learn more about the available schemes offered. The licensed [...]

14 07, 2014

FAQs for Borrowers

2018-12-10T17:16:09+08:00July 14th, 2014|Categories: FAQs, Licensed Money Lender, Personal Finance, Personal Loan|Tags: |

With effect from 1 October 2015, the maximum interest rate moneylenders can charge is 4% per month. This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one. An upfront administrative fee of not more than ten per cent (10%) of loan principal is applicable. For secured loans, you [...]