You never know when you’ll need emergency funds. If you’re currently in a difficult financial situation, we believe choosing a licensed moneylender is the best option. Here is why you shouldn’t waste time with banks and go straight to the nearest licensed money lender in Singapore.
1. Faster approval time for your loan
It’s an emergency and you need the money as soon as possible, so why waste time in bank queues to get your loan approved? With a licensed moneylender, all this can be done online. All you need to do is fill out and submit the application form online, providing some personal documents to prove your employment status and income. Some lenders will also check your credit status to ensure you have a good record.
2. Knowledge on repayment periods, interest rates and maximum loan amount
As soon as you step into a moneylender’s office, you will be given advice on a suitable repayment period, interest rate and loan amount for your personal circumstances. They’ll check out how much you can borrow and the interest rate on the principal. This will then be drafted into a contract, and you will be notified in due course after your employment status and income have been checked.
3. Contract with laid out terms
Every licensed moneylender will offer you a contract before the issuance of a loan amount. With this contract, both of you agree on the amount issued, the interest rate and the repayment period. This ensures that there are no issues further down the line, unlike illegal lenders.
4. No lengthy paperwork
Once you’ve confirmed your employment, income and credit status, it will only take a few minutes (maximum of 2-3hours) to hear back from us.
This eliminates the often drawn-out waiting period you will experience with banks when trying to get approval for a loan.
With the many advantages that licensed moneylenders have over other creditors, don’t waste time when you are in dire need of money by going to traditional banks. Contact us at Oasis Credit today to find out more.