Clementi is one of the busiest residential towns in Singapore. It is well known as Clementi of Jurong, and most Singapore residents have been able to access it with ease over time.

People meet here to trade different types of businesses. It’s also known for some historical views, such as the Lee Kong Chian Natural History Museum.

Besides, it is close to some of the renowned educational institutions such as the NUS High School of Math and Science, the National University of Singapore, the Clementi Mall, WEST Coast Plaza, and many other known   Historical Sites.

While here, people often find themselves in a fix, possibly because they have spent and left with nothing more to spend, yet they are not yet through with their day’s businesses.

Bearing this in mind, it’s paramount to work on the financial organizations available to sort the emergencies and ensure that everything you want is catered for in time and with care as you leave the town.

There are tons of Licensed Moneylenders here, but before deciding on the one to settle for, there are a number of factors that one ought to consider to ensure that you are in the safe hands of the moneylender at hand. Such exclusive points include:

  1. Eligibility

Before taking any loan, confirm that you are eligible for such a facility. For instance, the age limit, credit history, and also repayment period matter a lot. Suppose you do not meet any of these conditions.

In that case, it is paramount to evaluate and see the applicability of taking the loan and start stressing oneself on the onset of the repayments. Mind you, there are loan sharks who are just out to offer loans for self-interest and may lure one to taking a loan been when they know that one is not eligible.

Bearing this in mind, always confirm the extent to which one is eligible from the loan calculator before settling down for one.

  1. The Loan Repayment Period

As you proceed to take a loan, ensure that you are comfortable with the loan repayment period in question. This is to avoid one from straining as soon as the repayment period has started. This can be determined by other monthly financial obligations that one may be having and avoid taking a loan that will strain one’s finances every month.

  1. The Extent to Which Late Repayment Fines Take Place.

At any one time, the borrower takes a loan intending to repay it in good time. However, circumstances arise where things change, financial obligations increase, or even job losses take place. Take an instance of the COVID19 challenge where the whole world went into lockdown. Businesses were low, and as such personal finances were affected.

In such circumstances, it’s critical to check the fines imposed should one fail to pay on time. If they are on the higher side, then avoid entering into a contract with such Moneylenders.

How to Identify a Legitimate Moneylender in Clementi

Several factors determine the eligibility of a good Moneylender in Clementi. These include:

  1. Licensed_An excellent and legitimate Moneylender in Clementi must be licensed by the Ministry. To avoid falling into the hands of loan sharks, always confirm that the Moneylender has a license and is mainly displayed in their physical offices. Unlicensed Moneylenders use SMS messages or email messages to communicate, which is against the law.

 

  1. Loan Sharks Charge High-Interest Rates_ Usually, Loan sharks charge interest rates that are way above the normal or the regulated rates. This is because their finances are generated from unidentified sources, and they want to maximize to their level best to see to it that they get something out of their borrowed money. However, a legitimate moneylender in Clementi will charge as per the government-regulated rates, with no hidden fees. They also take the borrower step by step until there is a conviction to take their loans.
  • There is Always a Defined Contract at the Onset of the Loan Process_ While Legitimate moneylenders offer a contract when the loan offer is accepted, loan sharks will not give any contract. They do this to provide themselves with a leeway to skyrocket their rates and change their loan terms throughout the loan period, which will only mess with the borrower’s finances.

These are some of the factors that will aid one before falling into the trap of loan sharks who are out in the market to exploit innocent borrowers.

If you are in Clementi and still need a loan, we are here to offer you the best reviews of the best Moneylenders who will give the best loans within a short period and meet your short-term financial obligations in good time.

At Oasis Credit Services PTE Ltd, we offer the best credit services in Clementi.

We do this by ensuring that the loan term is flexible as per the borrower’s ability, with no hidden costs and fast disbursements meant to meet one’s short-term obligations as and when needed.  If your stock is out and no finances are available, there is no need to stress yourself anymore. We are here to sort out the financial obligations.

We aim to ensure a fair and transparent experience that matches your needs by seeing that we practice responsible lending to whatever type of loan the borrower may be interested in.

This range from:

  • School fees loan
  • Personal loan
  • Emergency loans,
  • Debt consolidation loans and many more.

To understand our services better, feel free to visit our website on https://moneyloans.com.sg/. Why not contact us today and let’s give more of the insights to you and be sure to get the best services from us.

In Conclusion, it’s always essential to check on the most crucial aspects of taking a loan with any organization. This is to help one from falling into the trap of falling into the wrong hands and suffer financially in the future. Carry out personal due diligence, understand the advantages and disadvantages of working with a specific moneylender, and ensure that you arecomfortable before settling for one.

Research on the reviews from the past experiences and should there be a red alert, run away from such. However, should there be positive responses, always be careful and trend with care before saying yes to any moneylender out there.