Ah yes, loans. These are a ubiquitous part of the global commercial scenario, and one that influences our lives in more ways than we can ever realise. Everyone applies for a loan at some point or the other, from different sources, to fulfil a wide variety of needs. There are several sources from which one can borrow money when they need it most, and in Singapore, a licensed moneylender would be the best option.
Here, we will be taking a look at the factors that define the best licensed money lender Singapore, and why they should be at the top of your list when applying for a loan.
What makes the best money lender in Singapore, best?
One can answer this question in several ways, and we will be portraying ours in the most comprehensive manner possible. First of all, we need to understand what licensed moneylenders mean. Well, these are government-registered and licensed lending firms that offer loans for a wide variety of purposes. What separates them from banks is the fact that the business model is quite different. Unlike banks, licensed moneylenders do not offer savings and depository functions, nor do they offer locker facilities as well. So, with that out of the way, let us take a look at the characteristics of the best licensed money lender in Singapore.
The speed of disbursement.
When it comes to getting a loan, one of the main factors in deciding the efficiency of the moneylenders is the speed at which they disburse the cash, once the application processes and other formalities have been executed. Now, there are several avenues through which one can avail of a loan, under various terms and conditions. Banks are one of the most popular places from where one can get a loan, but their loan disbursal timelines are pretty long and erratic. For someone to be the best licensed money lender in Singapore, their disbursal periods should be as short as possible, so that borrowers can have access to the cash at the earliest.
Lower interest rates.
When it comes to availing of a loan, a figure that everyone watches out for are the interest rates on offer. Now, having a flexible loan repayment scheme that calls for a lower interest rate is something that sounds too lucrative to be true, isn’t it? Well, when it comes to determining the top licensed money lender in Singapore, one should watch out for this, as licensed moneylenders in Singapore do offer such conditions with their loans. By availing of a loan from these money lenders, one can do so under favourable conditions, and at a comparatively low-interest rate.
The variations.
One may need a loan to satisfy a wide variety of needs, and financial institutions like banks seldom offer a wide portfolio of loans to choose from. This is a major handicap for people who might be looking for a loan that doesn’t fall into the regular collectives and options. This is where a licensed moneylender steps in. While determining the best money lender in Singapore, it is important to consider the types of loans that they provide. A licensed money lender can provide a wide variety of loans like personal loans, education loans, credit card consolidation loans, etc., and the lender that offers the widest portfolio of loans is certainly a forerunner in the race to become the best, licensed money lender.
Having a license.
When it comes to money lenders in Singapore, having a license is critical. There may be money lenders out there that are operating without a legal license, but dealing with them isn’t just illegal but potentially risky as well. Having a license is extremely important when it comes to being the best money lender in Singapore.
Final take:
???????Availing of a loan in Singapore can be a breeze, provided you know how to go about it. If you are looking for a money lender in Singapore that adheres to the aforementioned standards, you should definitely check out Quick Loan Singapore. They provide a wide variety of loans at competitive interest rates, and the disbursal periods are extremely short as well. Best of all, they are licensed. So, when it comes to determining the results, Quick loan Singapore can safely be termed the best licensed money lender in Singapore.
