Whenever you need extra funds for your emergency expenses, the best thing to do is to deal with a legal money lender Singapore, rather than begging in front of your friends and relatives and instead of gambling your time, energy and money choosing a random lender without a valid business license and visiting different banks. Many of you end up suffering from consequences by bearing heavy loss or high rate of interest when you don’t do your homework and don’t search for different money lenders to save yourself from the losses.
That is why, when the times come when you need to unwittingly borrow money, you should make it a point to choose the lender you work with to spare yourself from massive headaches along the way. Everyone needs benefits in every day to day events and of course, we can’t stay in today’s generation if we don’t look for some benefits out of everything. So, below in this article, we will discuss some benefits that you can expect from a licensed money lender in terms of the application process and receive your money once you are approved of a loan.
- No harassment involved: Identification is the key to not be in a loss, therefore you should identify whether a money lender is legal or not, you can do this by knowing that legal money lender Singapore can offer you an efficient and stress-free experience when you submit your loan application form, also during the evaluation of the submitted documents and signing the contract. Abiding by the rules set by IPTO, there is no issue with harassment, when it comes to overwhelming you with unreasonable means of advertising or even their way of soliciting loan payments from you.
- If you are ready to choose a legal money lender in Singapore then you need not worry about anything as they are approved by the government and are set to follow certain rules and regulations. Thus, if they do not abide by the rules, then they run risks of being penalized by authorities since there are always legal consequences for their actions, and for time being their license can be revoked, and also they are subject to a huge monetary fine as well. So, if you want a stress free loan and you don’t want any harassment, then always choose a legal and licensed money lender that provides you with reasonable interest rates and loan repayment scheme.
- Interest rates must be reasonable: Illegal money lenders are known to their massive interest rates and unreasonable repayment schedules. However, if you do not meet the designated payment date, you run the risk of having to pay high penalty fees and perhaps even go through some threats from the lender. A licensed money lender company in Singapore is registered and recognized by the Registrar of Moneylenders in the country. That is why they have to comply with the rules and regulations when it comes to interest rates and schedule of payment. There is also a limit to the amount they can lend, which depends on your income.
- No SMS advertisement: Nowadays, in the world of digital marketing, you will get rid of the advertisement, which every banking institutions make, and therefore business make use of all tools and strategies to spread the word about their products and services. In the case of lending companies, they may send SMS and you may get irritated by the number of SMS they send throughout a day. Be aware of the fact that only an illegal money lender performs this tactic. Visit Easy Credit for a legal money lender and to get an easy loan. Illegal money lender organization will keep on sending out text messages that lure people to loan money from them, and when you try to visit their office, it is not possible because they operate without any actual physical retail store.
- The licensed money lender in Singapore does not perform such acts. They should abide by the rules set by the government of Singapore and thus they cannot advertise their company and themselves and cannot have a personal conversation with their clients, they need a physical office and this signifies that they are legal and legit. If you ever get SMS from any money lender you can simply report it to IPTO as this is totally against the law set by the government.
These benefits will help you decide why money lenders are important and why always to go for a legal money lender Singapore than various financial institutions. You can visit easy credit for visiting the good money lender and can opt for a loan.