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SG MONEYLENDER LATEST NEWS SINGAPORE Personal Loans

August 5, 2016

Personal loans

SG MONEYLENDER LATEST NEWS SINGAPORE Personal Loans

Personal loans can be used to pay for all kinds of things – weddings, renovations, holidays or debt consolidation. They are available through banks, credit unions, and loan ‘shops’. Borrowing from the wrong money lender could cost you a lot, so research your options and choose wisely.

Top tips for managing personal loans

  1. Always ask yourself if you really need to borrow the money. Could you cut your spending and save instead?
  2. Use the debt calculator to work out what the loan will cost you each month and in total.
  3. Make sure you understand all the fees that may be charged and avoid nasty surprises.
  4. Be careful borrowing from lenders who take your personal property as security. If you get behind in payments they could claim your household goods.
  5. Know when your payments are due and make sure you have the money to cover them.
  6. If you’re borrowing money for household basics get free debt counselling from your local Budget Advice Service.
  7. Try not to borrow more to refinance a debt. Talk to your lender about ways of reducing the interest on your existing loans.
  8. Avoid being a ‘guarantor’ for other people’s loans. If they don’t pay, you will have to.
 

Know your options

Family and friends

There are many different lenders to borrow from but the cheapest option could be your family, friends or even your employer.

Banks and credit unions

If friends or family can’t help, the next best option is to approach your bank or a credit union for a personal loan.

Banks, building societies, and credit union interest rates are often lower than those offered by other lenders and they often charge fewer fees.

Credit cards

You can borrow money on credit cards (called a cash advance), but the interest rates are usually higher than for personal loans. Repayments can quickly get out of hand if you don’t clear the balance each month.

If you want to buy something in a hurry it can be tempting to use hire purchase, a store card, or ‘line of credit’ cards offered by finance companies. But interest rates can be high and there are often large establishment fees and insurance to pay.

If you get behind in your payments the finance company may repossess everything you ever bought with the card.

Find out more about repossession and debt collection on the Ministry of Consumer Affairs website.

Loan shops

If you’re in urgent need of cash you might be tempted by a local loan shop. However, their interest rates can be very high.

Loan shop staff will often talk of repayment as so many dollars a week, rather than focusing on the total you will pay back over time. Always make sure you add up the total cost and ask them to state the actual interest rate so that you have all the facts to compare.

Avoid lenders that charge very high interest rates – especially if they’re offering money door-to-door and don’t have an office. These lenders can include ‘loan sharks’ who may use heavy-handed techniques to make you pay up.

Loan sharks often charge interest by the week on ‘payday’ and you can easily end up paying many times what you borrowed. It’s common for interest rates on these types of loans to be several hundred percent each year.

Ask for help

If you need money urgently to cover basic costs contact Work and Income  to see if you qualify for a hardship grant, or speak with your local Budget Advice Service. They may know of church or charitable funds in your area you can borrow from.

Using your mortgage

If you own property you can usually get a cheaper loan secured against your home from a bank or other lender. Keep in mind that if you fall behind with payments you risk your home being repossessed.

With a revolving credit home loan you can borrow money against your house any time you need it, if you have balance available and as long as you stay within the original agreed terms and limit of your loan. This kind of credit only works if you’re the sort of person who is disciplined about making repayments, and shouldn’t be used for day-to-day expenses.

Find out more about the different types of mortgage.

If you do use your mortgage to borrow against your home, try to pay the additional loan off over as short a time as possible.  Even if the interest rate is lower, you’ll end up paying more in the long run if your loan is spread over the whole term of your mortgage.

Find the best interest rate

Interest on personal loans can make them an expensive way to get money. Shopping around usually means you will pay a little less.

Check the fees and charges

To find the best loan you need to know the fees involved, as well as the interest rate. See what you’ll pay in total with the debt calculator.

Many loans have establishment or documentation fees that can be more than $100. Store cards charge for replacement or additional cards, or to reprint a statement. You could also have to pay a fee to change the repayment terms, and if you don’t pay on time you’ll be charged default fees.

If these fees are all rolled into the loan you’ll pay interest on them – as well as the loan amount.

Banks may also charge you dishonor fees if meeting your loan repayment means you exceed the agreed overdraft on your current account.

Apply Legal Personal Loans With above 17,000 Followers of www.SGmoney.sg

 

LATEST NEWS: I Need a Personal Loan Immediately! — 5 Tips To Find The Best One
Apply Legal Personal Loans With above 17,000 Followers of www.SGmoney.sg and
 
Trying to secure Legal Cash Loans, Personal Loans, Payday Loans from Money lenders? Our Personal Loan clients are mainly from Pasir RisTampinesJoo Chiat, Telok Kurau, Simei, Bedok, Toa PayohMarine Parade, Geylang, Eunos, Chai Chee, Kallang and Bugis. Visit us ! 
Personal loans  make strong comeback riding on real-time credit scoring
Unsecured personal loans which had all but disappeared after record defaults in 2007-08 are making a strong comeback thanks to the Credit Information Bureau of India’s real-time credit scoring. Also expanding the market are new intermediaries who are generating leads that help lenders go beyond tapping walk-in customers at retail chains.
 
Consumer loans on equated monthly installments started picking up a couple of years back initially through credit cards. The EMI sales was also driven by subvention from the dealer or manufacturer who agreed to bear the interest cost but not the credit risk. Card companies were the first to tap this opportunity. But considering that there are only 1.9 crore credit cards in circulation the market is quite limited. Lenders such as Bajaj Finance, Future Capital, and Fullerton have expanded the market by putting up their loan desks within retail chains.” In 2007 all finance companies did not have a clue of who the borrower.
 
The loans were on the basis of documents filed by the borrower. We found that even Form 16 documents were fake” said the chief of finance company. He added that loans were pushed by agents who had an incentive to get disbursements which created a moral hazard resulting in bad loans rising. What has changed now is that lender is now able to identify how leveraged the applicant is, they can also identify in five minutes if the borrower had missed out on any loan installment in the past.
Need Personal Loan Urgently from Legal Money Lender? Most of our clients are working in Orchard, Siglap, East Coast, Beach Road, Bukit Timah, Bukit Purmai, Telok BlangahBukit Merah, Hougang, Sengkang, Punggol, Jalan Sultan, Middle Road, KallangGeylang, Whampoa, Geylang Serai, Aljunied, Bugis and Ang Mo Kio. See us today for a chat! 
   
 
 
 
Disappointed with Banks? Need Cash? We provide Personal Loan, Payday Loan or Cash Loan to residents of Toa Payoh, Thomson, Woodlands, Yishun, Bukit Batok, Commonwealth, Jurong East, Ang Mo Kio, Bishan, Beach Road, Havelock, Rochor Road, Chinatown, Burn Road, Tanjong Pagar, River Valley & Orchard Road. Legal Moneylender. See us today!
  UC United Credit Licensed Money Lender, Call: 62220227
 
 
Our Personal Loan, Cash Loan & Short Term Loan clients are mainly from GeylangJurong West, Beach Road, Jalan Sultan, Lavender, Middle Road, Chinatown, Kim Kiat, Buangkok, Tanjong Pagar, Marine Parade, Balestier, Bendemeer, Serangoon, Woodlands and Ang Mo Kio. Licensed Moneylender 

Apply Legal Personal Loans With above 17,000 Followers of www.SGmoney.sg and

Need Urgent Cash Loans, Personal Loan, Payday Loan or Business Loan? See a Legal Money Lender today. We loan out legally to residents of Pasir Ris, Tampines, Simei, Commonwealth, Bedok, Kallang, Beach Road, Jurong, Thomson, Bishan, Jurong, Kaki Bukit, Ubi, Marsiling, Thomson Road, West Coast, Boon Lay, Mandai, Sembawang and Choa Chu Kang. 
        UC United Credit Licensed Money Lender, Call: 62220227
Legal Moneylender, Cash Loan & Personal Loan for residents in Geylang, Jurong Town Hall Road, Beach Road, Orchard Road, Middle Road, Little India, Ang Mo Kio, Marine Parade, Bukit Panjang, Jalan Besar, Seletar, Paya Lebar, Bukit Merah, Clementi, Jurong West, Punggol and Tampines. 
AND MORE !
Log on to http://sgmoney.sg/index.html for more Licensed Moneylenders listings in Singapore.
Apply Legal Personal Loans With above 17,000 Followers of www.SGmoney.sg and
 

Moneylender and Personal Loan in Singapore

Loan available in Singapore

SGmoney features Licensed Moneylenders information on personal loanbusiness loanpay day loanforeigner loanshort term loan or any legal cash loan & money loan services in Singapore.
   

Apply Legal Personal Loans With above 7,000 Followers of www.SGmoney.sg and

Loan

SGMoney is a Loan Directory in Singapore, listings include renovation loan, medical loan, education loan service providers in Singapore.

Personal Loan

SGMoney includes Licensed Moneylenders personal loan packages in Singapore. http://www.sgmoney.sg/online.html
Cash Loan in Singapore http://www.sgmoney.sg/online.html
SGMoney helps you locate your preferred Licensed Money Lender fast and accurately.
Singapore Moneylenders Directory
http://www.sgmoney.sg/online6.html
SGMoney is a one stop platform for any legal Moneylender looking for interested consumers.
Personal Loan services in Singapore heading online
Licensed moneylenders in Singapore are targeting consumers looking for personal loans, business loans, short term loans, or simply fast cash loans but with less than SGD 30,000 income per annum. www.sgmoney.sgSGmoney® is an online media platform for legal loanapplications online.  For those whom wish to borrow money or are looking for a quick loan, cash loan, fast loan or any loan which are provided by authorized money lenders, they can do so online.
 
Bad credit loan is available via the SGmoney® licensed moneylender directory in Singapore, potential lenders with poor financial records will face difficulty when borrowing from banks. This online platform will be helpful to such consumers.  Pay day loan have been gaining popularity among this group of borrowers, but in order not to encourage a borrowing culture for the good of Singaporeans & permanent residents, the authority in charged had issued strict laws controlling licensed moneylender’s advertising activities in Singapore.
Borrow money only when really necessary
With lesser visibility of loan providers seen in the Singapore money lender scene, potential borrowers are expected to have more time to decide- The type of loans to choose, the loan amount and only if they genuinely need to borrow money in Singapore- be it personal loan, pay day loan, short term loan, foreigner loan or simply legal fast cash loan from any licensed moneylender in Singapore featured in SGmoney® The Personal Loan Directory in Singapore.
Apply Legal Personal Loans With above 17,000 Followers of www.SGmoney.sg and
Visit http://sgmoney.sg/index.html for more Loan selections. Legal Loans in Singapore! http://www.sgmoney.sg/online.html
Apply Legal Personal Loans With above 11,000 Followers of www.SGmoney.sg and


Trying to secure Legal Cash Loans, Personal Loans, Payday Loans from Money lenders? Our Personal Loan clients are mainly from Pasir RisTampinesJoo Chiat, Telok Kurau, Simei, Bedok, Toa PayohMarine Parade, Geylang, Eunos, Chai Chee, Kallang and Bugis. Visit us ! 
Personal loans  make strong comeback riding on real-time credit scoring
Unsecured personal loans which had all but disappeared after record defaults in 2007-08 are making a strong comeback thanks to the Credit Information Bureau of India’s real-time credit scoring. Also expanding the market are new intermediaries who are generating leads that help lenders go beyond tapping walk-in customers at retail chains.
Consumer loans on equated monthly installments started picking up a couple of years back initially through credit cards. The EMI sales was also driven by subvention from the dealer or manufacturer who agreed to bear the interest cost but not the credit risk. Card companies were the first to tap this opportunity. But considering that there are only 1.9 crore credit cards in circulation the market is quite limited. Lenders such as Bajaj Finance, Future Capital, and Fullerton have expanded the market by putting up their loan desks within retail chains.” In 2007 all finance companies did not have a clue of who the borrower.
The loans were on the basis of documents filed by the borrower. We found that even Form 16 documents were fake” said the chief of finance company. He added that loans were pushed by agents who had an incentive to get disbursements which created a moral hazard resulting in bad loans rising. What has changed now is that lender is now able to identify how leveraged the applicant is, they can also identify in five minutes if the borrower had missed out on any loan installment in the past.
Need Personal Loan Urgently from Legal Money Lender? Most of our clients are working in Orchard, Siglap, East Coast, Beach Road, Bukit Timah, Bukit Purmai, Telok BlangahBukit Merah, Hougang, Sengkang, Punggol, Jalan Sultan, Middle Road, KallangGeylang, Whampoa, Geylang Serai, Aljunied, Bugis and Ang Mo Kio. See us today for a chat! 
 
Disappointed with Banks? Need Cash? We provide Personal Loan, Payday Loan or Cash Loan to residents of Toa Payoh, Thomson, Woodlands, Yishun, Bukit Batok, Commonwealth, Jurong East, Ang Mo Kio, Bishan, Beach Road, Havelock, Rochor Road, Chinatown, Burn Road, Tanjong Pagar, River Valley & Orchard Road. Legal Moneylender. See us today!
  UC United Credit Licensed Money Lender, Call: 62220227
 
Our Personal Loan, Cash Loan & Short Term Loan clients are mainly from GeylangJurong West, Beach Road, Jalan Sultan, Lavender, Middle Road, Chinatown, Kim Kiat, Buangkok, Tanjong Pagar, Marine Parade, Balestier, Bendemeer, Serangoon, Woodlands and Ang Mo Kio. Licensed Moneylender 
Need Urgent Cash Loans, Personal Loan, Payday Loan or Business Loan? See a Legal Money Lender today. We loan out legally to residents of Pasir Ris, Tampines, Simei, Commonwealth, Bedok, Kallang, Beach Road, Jurong, Thomson, Bishan, Jurong, Kaki Bukit, Ubi, Marsiling, Thomson Road, West Coast, Boon Lay, Mandai, Sembawang and Choa Chu Kang. 
        UC United Credit Licensed Money Lender, Call: 62220227
Legal Moneylender, Cash Loan & Personal Loan for residents in Geylang, Jurong Town Hall Road, Beach Road, Orchard Road, Middle Road, Little India, Ang Mo Kio, Marine Parade, Bukit Panjang, Jalan Besar, Seletar, Paya Lebar, Bukit Merah, Clementi, Jurong West, Punggol and Tampines. 
AND MORE !
Log on to http://sgmoney.sg/index.html for more Licensed Moneylenders listings in Singapore.

Moneylender and Personal Loan in Singapore

Loan available in Singapore

SGmoney features Licensed Moneylenders information on personal loanbusiness loanpay day loanforeigner loanshort term loan or any legal cash loan & money loan services in Singapore.

Loan

SGMoney is a Loan Directory in Singapore, listings include renovation loan, medical loan, education loan service providers in Singapore.

Personal Loan

SGMoney includes Licensed Moneylenders personal loan packages in Singapore. http://www.sgmoney.sg/online.html
Cash Loan in Singapore http://www.sgmoney.sg/online.html
SGMoney helps you locate your preferred Licensed Money Lender fast and accurately.
Singapore Moneylenders Directory
http://www.sgmoney.sg/online.html
SGMoney is a one stop platform for any legal Moneylender looking for interested consumers.
Personal Loan services in Singapore heading online
Licensed moneylenders in Singapore are targeting consumers looking for personal loans, business loans, short term loans, or simply fast cash loans but with less than SGD 30,000 income per annum. www.sgmoney.sg SGmoney® is an online media platform for legal loan applications online.  For those whom wish to borrow money or are looking for a quick loan, cash loan, fast loan or any loan which are provided by authorized money lenders, they can do so online.
Bad credit loan is available via the SGmoney® licensed moneylender directory in Singapore, potential lenders with poor financial records will face difficulty when borrowing from banks. This online platform will be helpful to such consumers.  Pay day loan have been gaining popularity among this group of borrowers, but in order not to encourage a borrowing culture for the good of Singaporeans & permanent residents, the authority in charged had issued strict laws controlling licensed moneylender’s advertising activities in Singapore.
Borrow money only when really necessary
With lesser visibility of loan providers seen in the Singapore money lender scene, potential borrowers are expected to have more time to decide- The type of loans to choose, the loan amount and only if they genuinely need to borrow money in Singapore- be it personal loan, pay day loan, short term loan, foreigner loan or simply legal fast cash loan from any licensed moneylender in Singapore featured in SGmoney® The Personal Loan Directory in Singapore.
Visit http://sgmoney.sg/index.html for more Loan selections. Legal Loans in Singapore! http://www.sgmoney.sg/online.html
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