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Published on: 30 Dec 2016 by marywu
Money lenders in Singapore are who lend money to you personally, at fixed rates of interest, for a particular period. The loan they offer are usually personal loans and short term debts. Their rates, terms, and policies are different from other large financial institutions and, so are their interest rates. They do not ask you information as many details as the other large companies do, neither do they require you to present specific passes and documents.
Taking loans from money lenders in Singapore is a very easy solution for all your financial needs. They lend money to people who do not have bank access or have a bad record of falling into bad debts too. These moneylenders require just some information about you and certain documents such as pay slips and salary slips for their guaranty. They are very different from banks and financial institutions which take time in processing your documents and then pay you the money. The money lenders do not require you to do the advance application. They lend you money very quick and also demand the refund in a short period. In cases of unsecured loans, the amount is usually quite small and so are the interest rates.
In these cases, the money lenders in Singapore do not need you to put your assets at stake. What they will require are just a few pay slips and salary stubs as proofs of your regular earnings. When you approach them for a comparatively large amount of loan, they will ask you for a mortgage. It means you will have to handover the ownership documents as a guaranty of repayment of your loan. They will not take over your property, but you will not be able to sell it without their consent till you are done with the repayment. In case you cannot repay the amount and, you sell the property, your loan amount only shall be deducted from the sale value and rest you can keep to yourself.
You are at an advantage when you deal with money lenders in Singapore. If you find any loopholes later in the contract of Moneylenders in Singapore, after you have signed it, you can immediately sue them legally. If you realize the agent is not dealing honestly, you can keep the immoral contract as a proof and move the court against him. In that case, the money lender shall be entitled to punishment and, the money you have borrowed shall become yours as an amount of compensation.