Suppose you are considering getting a rapid money loan in Singapore for your personal needs or expanding your business. In that case, we are ever ready to guide you through the process without any hassle. Obtaining a money loan Singapore has been made easy. Any time you need an urgent loan, it is essential you get a money loan Singapore from a licensed money lender. First, you need to know how to recognize legal and illegal money lenders. Below are 24 hours guide to avoid ending up with an illegal money lender:

Only apply for an online loan by utilizing a licensed moneylender channel.

Licensed moneylenders in Singapore have websites through with you can apply for a money loan Singapore. However, unlicensed and illegal moneylenders are also emulating licensed moneylenders to operate their illicit businesses. If you don’t want to end up with one of these illegal moneylenders, you need to authenticate the website address on the list provided by the Registry of Moneylenders. You should also know that licensed moneylenders are prohibited from advertising using paid ads, so don’t click on advertisements on search engines advertising for loans; they may be fraudsters. The only three approved legal advertising channels for licensed moneylenders are their business directories, their websites, and within their business premises.

Locate a moneylender with a registered business address

It would help if you avoided moneylenders promising to provide money loan Singapore without a business address. Find the office address of the moneylender and make sure it corresponds with the one provided by the Singapore Registry of Moneylenders

Lawful interest rates and late repayment rates

The laws regulating licensed moneylenders in Singapore under the Ministry of Law only allow a 4% interest rate per month for money loan Singapore. The borrowers are permitted only to pay a late interest rate of up to 4% per month if a borrower could not repay the money loan on time. Any money lenders demanding exorbitant interest rate should be considered illegal.

Consider flexibility in money loan repayment.

Legal lenders in Singapore provide flexible terms of repayment that meets each borrower’s financial ability. As a borrower, you can also negotiate the repayment terms. When taking a money loan Singapore as a borrower, you can negotiate the repayment terms with your lender. The underlying principle of loan borrowing from a legal moneylender is to take you out of financial struggles, not to be a burden to you.

Our money loan services are peerless with various merits associated with them. You can apply for a money loan Singapore from us by using our online application forms. The application process is hassle-free and easy to complete. You can also enjoy our flexible repayment terms for your money loan Singapore. You can use your money loan in Singapore to offset your medical bills, monthly bills, car repairs, home repairs, debt consolidation, and other urgent needs for money. You can apply for your money loan Singapore from us today.