Getting money from banks, government agencies or other lending institutions can be very stressful. Sometimes their terms do not suit your needs or you’re not eligible to obtain this loan among other problems. If you want to take a loan from a money lender it is important to make sure that they are properly licensed because of the rules and regulations in place in Singapore it is important to ensure that you are not dealing with an illegal moneylender.
There are many money lenders in Singapore and all these money lenders operate on different levels with different terms. Many of these lenders offer fast cash loans and it is important to pick one with favorable rates, good terms and a flexible repayment plan. It is always good practice to shop around looking for different lenders before settling on a good fit for you.
When borrowing money from a lender it is good practice to borrow what you can repay including interest. Being unable to pay back can be a very bad situation and this can affect even the people close to us. When you take a loan you are legally obligated to fulfill the loan contract which you enter into with your licensed money lender in Singapore.
Licensed money lenders Vs Unlicensed money lenders.
In Singapore, there are both licensed and unlicensed money lenders, and it is important to know the difference between them so as to be able to make the right choices when looking for a money lender to borrow from.
It is important to know if a money lender is registered. It is always important to borrow money from a licensed money lender because they would operate within the regulations of the moneylender’s registry. To check if a money lender is registered, you can find out from the list of registered moneylenders in Singapore. To be a legal moneylender in Singapore, you have to be registered and licensed.
There is a complete list of licensed money lender on the website of Ministry of Law Singapore and this list can be accessed by anyone borrowers or lenders alike. There are currently about 150 licensed money lenders in Singapore. Checking the list regularly is important because it enables you to keep up with those whose license has been suspended, revoked or what new lenders have been registered.
How much can you borrow from a licensed money lender?
There are a wide range of different amounts attached to different loan schemes that are available for borrowers. Choosing the best and most reasonable loan for you is very important. These loan ranges are:
About Gold Star Credit.
Gold Star Credit is a licensed money lender in Singapore and we are committed to ensuring that our clients and customers get the best deals available when taking a loan. We want you to be fully clear about the terms of a loan before you commit to it. Our loan officers are always on ground to explain the terms and guide you through the process of obtaining a loan from us.
Because we care, we have removed all the redundant processes you may encounter when trying to obtain loans from a bank or other lending institution. This is because we know how important it is that you get your loan as quickly as you apply for it. You should know that no collateral or guarantor us needed to obtain a loan from us.
Our interest rates are among the best on the market and our loans are of a wide variety including business loans, personal loans, payday loans among others. We also offer very flexible and convenient repayment plans for example bi-weekly, and monthly among other repayment schemes. At Gold star Credit we give you the freedom of choice to get whatever loan you want at whatever repayment scheme that is comfortable for you.