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Applying for a loan in Singapore? Read this first.

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We all require money to sustain our livelihoods and maintain our lifestyles, and cash is the most liquid form of exchangeable asset known to mankind. There may be cases where a large amount of cash may be needed within a very small period of time, and many may not have the requisite amount lying around. In Singapore, there are a few avenues that one can take to raise the required capital, and besides banks, a licensed money lender Singapore would be one’s best bet, something about which we will be discussing further on. 

Let us take a look at some of the purposes, for which a licensed money lender in Singapore would provide the required funds. 

  • Cash loans- There may be situations wherein you might require a fast cash infusion to meet any urgent liability, and this is where a cash loan comes in. Be it for paying off bills, or executing certain social functions, a licensed moneylender would provide you a sum that would be six times your salary, and that too at a low and flexible interest rate. The approval procedure is quickly executed, and the sum is disbursed on the spot. 
  • Investment loan- Are you an investor who regularly invests in various asset classes with the motive of reaping a greatly appreciated return later on? If yes, it is quite possible that a scenario may arise wherein you spot a lucrative investment deal, but aren’t able to proceed due to a capita crunch. Well, if such a situation ever takes place, you can approach a licensed money lender in Singapore for the requisite funds, and complete your investment endeavour with that fund. The funds would be disbursed rapidly, while you avail of a personalized and customized experience. The approval process is pretty simple as well, and the approval process is pretty fast as well. 
  • Credit card consolidation loan- It is often witnessed that people use multiple credit cards, and keep paying off these debts separately, increasing the hassle and paying a higher interest rate overall. By applying for a credit card consolidation from a licensed money lender in Singapore, one can combine all those loans into a single loan, thereby ensuring a lower overall insurance rate, while simplifying the process as well. Getting such a loan is pretty easy as well, and the approval process is extremely simple and fast. 
  • Home renovation loan- A home is a place that we can truly call our own, and renovating our homes is a pretty expensive affair. By availing of a loan, you can undertake these renovation processes conveniently without having to worry about finances at every turn. Thanks to an easy and fast approval process, you wouldn’t be kept waiting for weeks on end. 
  • Medical bills loan- One of the most expensive emergencies in one’s life that no one wishes to encounter is hefty medical expenses, and medical costs in Singapore can be pretty steep. A medical bills loan can help pay for services like ambulance fees, surgery fees, medical charges, hospital stay charges, etc. During an emergency, being on-time makes all the difference, thus borrowing from a licensed moneylender would ensure that you receive the required funds within a short period. 
  • Education loans- Formal studies can be really expensive, and there are no two ways about it, and one of the best ways in which one can pay for it is by availing of an education loan from a licensed money lender in Singapore. These loans would ensure that you or your ward gets the best education there is, and do not have to compromise due to financial issues. 

These are a few types of loans that one can avail of from a licensed money lender in Singapore. One can also avail of other forms of loans like business loans, start-up loans, etc. from these lenders. Now, let us take a look at the advantages that these lenders bring to the table over the other channels.

  • Instant loan approval- Loans are something that a lot of people require urgently, and having to wait for a very long period is downright torturous. By approaching a licensed moneylender, one can have the approval and disbursal done within an hour, which makes them of the best propositions out there.
  • Get on-spot cash- By visiting a licensed money lender in Singapore, the entire cash can be availed off pretty fast, without having to wait for days or weeks on end, thereby boosting the utility factor. 
  • Low-interest rates- Loans offered by licensed moneylenders in Singapore attract comparatively lower interest rates, thereby making them a better deal overall. 
  • Flexibility- When it comes to loans, banks can be pretty rigid. By availing of a loan from a licensed moneylender, one can enjoy a flexible approach, wherein the loans can be personally tailored. 

Final take:

Availing of a loan from a licensed money lender Singapore is the best option that one should consider if they are looking for one. Not only are the processes involved much simpler, but the time involved is greatly reduced as well.