All over the world, not only in Singapore, there are those essentials that literally support the economy of a country. The lending industry is one of these essentials. Conventionally, people who miss loans from traditional banking and lending channels often resort to other lenders, including credit unions. Singapore is a home of some of the excellent money lenders, those that give personal loans easily without too much paperwork and unnecessary bottlenecks.
This article is going to put emphasis on two aspects. They include; the qualities of a suitable money lender and a list containing some of the best money lenders in Singapore in the current age.
Qualities of an excellent money lender
Low rates of interest
Usually, the rates of interest for the lenders are controlled or regulated by the state financial laws; however, most lenders are flexible with the rates. Therefore, a good money lender would not offer exorbitant rates in attempts to earn more from you than is required. Furthermore, you should also ensure that apart from the loan rates, the lender does not include hidden charges and fees. Go for a lender who offers sensible rates and explained penalties in case defaulting occurred or you missed your regular repayment schedule. You can get a loan by visiting this www.instantloan.sg/licensed-money-lender/ in times of emergencies.
Terms of engagement
These are the credit provisions set by the lending company that stipulate how the credit is going to be treated for the period of the loan. These loans terms play an essential role for the prospective borrower to consider while shopping out for a good lender in the market. The terms of the loan ought to be flexible in terms of the payment schedule, loan period, terms of the loan, etc. these components are supposed to be manageable to the customers. Understanding your terms helps you as a borrower to avoid trouble or stringent penalties.
Credibility
An excellent moneylender always has to be trustworthy. The lender’s integrity and reliability should be beyond reproach. While out looking out for a lender, always care to look for that company which has the best reputation in the market, is easily accessible and has a physical contact which you can reach them easily. This kind of convenience brings about certainty and some level of calmness to both parties.
In addition to the above qualities, a good money lender should also exhibit qualities of patience, flexibility, responsiveness, fairness and be experienced in the lending industry.
Top lenders in Singapore
Lending Bee
This is a licensed and well-established lending firm that lets people access its credit services with the ease that makes all the difference in the lending business in Singapore. The firm offers flexible loan amounts of up to $100,000 worth of loans for longer periods and with a provision of the consolidation period.
With more years of operation under its belt, Lending Bee has amassed sufficient experience and skills to deal with the dynamics the industry has to offer coupled with great customer care experience and personalized client management structure. Furthermore, the lender services have further been digitized to enable easier access, and the ability to serve customers from all over the country since the four branches of the firm spread across the country are not easily accessible. Therefore, the customers have their own loan accounts which show their loan status, which serves as a reminder of payment dates to avoid late repayment.
KatongCredit
About which lender offers personal loans easily in Singapore, it got to be this one. KatongCredit is a lending firm built on credibility, responsiveness and integrity. These are the qualities that have earned the lender wide recommendations from all kinds of people countrywide. Considering how difficult it is to obtain financing from the contemporary lending system of banks with a low credit score in Singapore, it brings reprieve when you get a lender in the ranks of KatongCredit who assures you of a fast-tracked loan processing and fair eligibility procedures. Also, this firm is not just limited to internal borrowing. It stretches its hand to cover even the foreigners who need financial assistance.
Credit 21
This is one of the top lending firms in Singapore with lots of experience in the market. Their core objective is customer satisfaction. They, therefore, boast of a wide range of activities which have been developed to satisfy their customers. They have streamlined services which serve to ensure that their clients are well taken care of in a transparent way. Additionally, credit 21 has integrated its services online to allow for its customers to control their accounts in one click.
Horison Credit
This is a licensed lending firm which takes pride in the fact that it offers fast loans to people at affordable rates and at the same time with reasonable repayment terms. These qualities of client centeredness have earned them a spot within the very best elite lenders in the business. At Horison Credit you are assured of fast processing of emergency loans. In addition they also offer debt consolidation services.
1AP Capital
1AP Capital have for the years stood as one of the very top lending firms in the industry, with its specialization in business, student, emergency and personal loans, the firm has a clear business path aimed at providing the best and quick services to its clients. Credit specialization is good since it enables the servant to offer Taylor-made services to the client, which are nothing less than quality.
U-Credit
The lender is arguably the most flexible money lender in the industry. Apart from expediting any loan request from their clients, they invite the prospective customer to compare their rates of interest with other firms on the same loan product before an engagement contract is signed. They, however, offer very manageable rates of interest with favourable terms. Such customer-oriented services put this firm on the national map of the very best lenders in the market.
The bottom line
Singapore is home to many people, which then translates to a home of opportunities in every sector of the economy. As discussed earlier, an economy is like a sphere, for it to roll easily, all its sectors must be in agreement. Hence, the boom that has been witnessed post-global recession in Singapore. There are many industry players involved in this business and they continuously strive to make better decisions to improve their service delivery to ensure their stake in the ever-competitive industry. That is why many money lenders have come up with very favourable terms to entice their clients hence bettering the industry provisions.
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