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Many people are there who all are very much interested in going for different things. But to get those, you need the money, and it is not an easy job to earn and spend money always. Singapore is a place where almost everything is expensive, and for that, it comes among the most expensive cities in the world.
There are many times when people suffer from financial problems. During that time, they always think of getting to a moneylender to get some assistance. But while going for the moneylenders in here, you will encounter two types of moneylenders.
The two kind of money lender are:
- Private money lenders
- Licensed money lenders
Difference between the two
In the first case, when you go for private money lenders, you may face some issues in the future. It is because private money lenders don’t follow the law that is set for them. They also charge the rate of interest as per their wish.
When it comes to the repayment time, they may harass you if you ask for more time or can’t repay the money.
While you go for the licensed money lenders, then you can find that they proceed as per the law. They charge the minimum interest rate and make things simple for you all. Apart from that all, the next thing is that they give extra time for repayment as well.
From all these, you can know that the significant difference that you must take care of. So, it is always better to go for the Singapore Licensed Moneylender and get the amount from them.
Why is licensed moneylender best?
There are many people who all are there wondering about the advantage of going for the licensed moneylender. Earlier, there are moneylenders who all lend money, but at the same time, they charge high-interest rates as well.
So, for all these reasons, the borrowers get to harass and find difficulty to pay the enormous sum at the end. To make it simple and easy for the borrowers, Singapore passes a law in the year 2015.
Within that law, the entire licensed moneylender comes under it, and they need to do all the things as per requirement. It means that they can’t charge you more as per their wish. You will also get the right to extend the time to repay the amount, but for that, you need to pay some fine at the end.
What does the law state?
In the year 2015, the Ministry of Singapore, pass a law for the moneylenders. In that law, states the following things which need to get follow.
- No moneylender can charge more than 4 percent of the interest rate.
- The interest amount can’t be more than the principal amount.
- The additional charges and other fees must be minimal for the borrowers.
- If the borrowers want to extend the time for repayment, then a fine of $60 will be there. Along with it, the borrower will get the new time frame for repayment.
- In case of dispute or any other thing, both parties can approach the court of law.
Is there any best-licensed moneylender here?
Are you searching for the best Singapore licensed moneylender? Then you will get plenty of them. In Singapore, you will get nearly 160 licensed moneylenders who all can help you financially.
As it is a huge list, so many customers get confused about the agencies. If you are in search of getting the best moneylender here, then you can go for the Crawfort moneylenders.
Kind of loans offers to you
If you are thinking of taking a loan from here, then you can avail of three kinds of loans from here.
- Payday loans
The very first kind of loan that you can get from here is payday loans. There are many times when you spend all your money on the salary in the first week. If that happens then no worries, you can visit here and can apply for payday loans.
- Personal loans
The next kind of loan that you can avail from here is personal loans. If you need money to buy a car, property, pay fees and bills, or anything else, then you can apply for it. Under the loan, you can spend the money at anything that you wish.
- Business loans
If you are in a plan to invest, expand, or doing any other thing with your business, then you can go for business loans. In these kinds of loans, you can get money for your business at a low-interest rate. You can’t spend the money other than spending on your business.
So, if you need any loan, then you can visit Crawfort.com. On visiting here, you can get the whole idea about these things in a detailed manner.
Why take a loan from here?
It is the next important question that is asked by many customers. If you are visiting the Crawfort.com to avail the loans, then you will get the following benefits from here.
- The loan process is safe and secure.
- They take a few hours to process the loan application.
- They credit the loan amount in your account within a day after approval.
- Gives your assistance at every step, even during the repayment time.
- Follows the laws set for moneylenders.
These are the top things that you can get from here when you are availing of the loans. So, to make things look good, you can go for the Crawfort and get the loans that you want for yourself or different things.
Wrapping up
With all these things, it shows how good it is to get the loan from the licensed one.
These things ensure that you get the best loan at the minimum interest rate and the best time period to repay the amount.
So, if you need a loan or need financial assistance in any form, do get in touch with the Crawfort. It is a licensed agency and can help you in all ways financially.
