Licensed Money Lender Personal Loan Seletar

Seletar is a planning area located in the northeast part of Singapore. The place is often associated with its military roots since it served as the base of the British Royal Air Force during the 1920s.

Today, you can visit Seletar Aerospace Park if you wish to get a better glimpse of Singapore’s colonial history. Afterwards, you can dine at Wheeler’s Estate where a menu of standard pub grub awaits.

Thinking if you need a loan while you’re in Seletar? Continue reading to learn about the things you should take note of before working with a particular moneylender.

How to identify a licensed money lender?

One of the easiest ways to verify whether a moneylender is licensed or not is to check if they are in the Ministry of Law’s list of licensed moneylenders. This list is updated regularly to ensure that borrowers get accurate information.

Additionally, we have an in-depth guide on how to detect red flags when you suspect that it is a unlicensed moneylender.

You should also look out for the following behaviours, regardless of a moneylender’s license:

Using abusive language or acting in a threatening manner towards the customer
Asking for a borrower’s SingPass details
Keeping personal documents of borrowers
Asking borrowers to sign incomplete or blank contracts
Granting loans without providing borrowers with a copy of the contract
Granting loans without strictly following the process
Withholding any part of the borrower’s principal loan amount

What to consider when taking a loan?

Taking a loan and paying it back is a huge responsibility. Here are some factors that you should consider before finalizing your loan plan:

Loan amount: How much do you need to loan? This will provide direction to the succeeding factors.
Loan type: Moneylenders offer various loan types. Examples include, but are not limited to, personal loan, payday loan, monthly loan, business loan, and foreigner loan.
Interest rates: You’ll want to know how much more you have to pay back on top of what you owe. Fortunately for you, moneylenders in Singapore can only charge up to 4% in interest.
Length of loan: How long will you be paying the loan back? Depending on your ability to pay, you may even get discounts if you complete your payment earlier.
Repayment ability: Here’s where you need to be real with yourself. Carefully think about whether you can realistically pay back the loan within the given time frame.

How can 1 Fullerton Credit help you?

We at 1 Fullerton Credit regard ourselves as our customer’s financial heroes. Just as superheroes always save the day, that’s exactly what you can expect from us.

We take pride in finding solutions for your financial burdens. After all, our promise is “Borrowing money made easy”. Not only is the loan application process hassle-free and convenient, but it’s also tailored to suit a borrower’s unique needs.

Conclusion

If you’re looking for a trusted loan Singapore company, 1 Fullerton Credit is the answer. If you’re facing financial difficulties, Seletar Personal Loan can help you out with your financial needs.

With more than a decade of experience, it’s no surprise that we’ve consistently built a positive reputation among our clients.