How To Choose The Legal Moneylender In Singapore

By Author: linmy
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Are you considering taking a loan and don't know a legal moneylender in Singapore? This is the right place where you will get the information you are looking for!

First of all, you must be informed what are the features that make a moneylender legal. By Singapore law, a licensed money lender must have a company headquarter that you can visit and the lender must be listed on the Ministry of Law website.

While deciding the credit conditions that will have to comply with, make sure that all the contract terms and conditions have been explained to you in a clear language by the moneylender of your choice. A legal money lender will allow you to have a flexible repayment plan and will decide the maximum amount of the unsecured loan based on your income.

Moreover, licensed money lenders are required by law to have their customers sign a contract with the agreed amount, interest rate, repayment fees and terms and other contractual clauses. It is important to take into consideration also the fact that all licensed money lenders cannot charge their customers above market interest rates; this is why you must make ...
... sure to be informed about the average rates available in the market.

Another important factor to remember is that a licensed lender can charge you up to three types of fees: late payment or default fees, up-front service fees and the legal fees that could arise from a court challenge.

A serious and trustworthy moneylender in Singapore is CreditExcel. Credit Excel has at its core values the customer happiness and satisfaction and offers a competitive credit solution that will not hinder your lifestyle and that will meet any of your requirements.

Not only the company guarantees a fast approval, but also a flexible repayment plan based on your financial needs. What's even more interesting is that Credit Excel does not care about your credit history.