Standard Chartered Bank Car Loan: Top 5 Queries

Standard chartered bank car loan

Standard Chartered Bank Car Loan: Top 5 Queries

Standard Chartered Bank Car Loan is ideal for a car purchase in Singapore. Use this article as a guide. Ask these questions before proceeding.

Standard Chartered Bank Car Loan in Singapore

While Singapore’s transportation system is on top among other Asian countries, many Singaporeans are still eyeing the convenience of having a car.

Now that there are various car loans in the market purchasing a car has never been more affordable. You can quickly get a car and drive it around while still paying for it. However, there is a lot to consider other than just the design and brand of a vehicle.

It would be best to take your time shopping for the right car loan. Let’s look at Standard Chartered Bank Car Loan here in Singapore.

Standard Chartered Car Loan

Car Loan Documents Required

Standard Chartered Bank has a strict policy regarding the required documents like any other bank. Also, your paperwork must be complete, and the photocopies must be precise.

Standard Chartered Bank requires its car loan applicants to submit proper identification documents, proof of income, Sale and purchase agreements, Application for Hire Purchase, and Vehicle registration card or Log card.

If you are a foreigner, you can still apply for a car loan to present additional documents such as your proof of address. However, giving complete requirements can make your loan process faster.

Car Loan Interest Rates

Unlike other loans that can charge after a certain period, Standard Chartered Bank offers fixed interest rates for the whole duration of your loan term. You can now choose a term of up to seven (7) years. After the Monetary Authority of Singapore (MAS) had eased its regulations with car loans. It made the car loans in Singapore more affordable because longer terms can lower the number of monthly instalments.

Standard Chartered Charges

You need to consider the car loan’s fee and charges before choosing the one that fits your needs. Also, it gives you an idea of how much you will have to pay if you have not met the loan contract.

They will charge the late payment fee for every month you fail to pay your instalment. 

Let’s say the opposite happened. You want to settle the loan ahead of the maturity date. You would think that the bank will be happy to pocket your money and close the loan. Instead, banks such as the Standard Chartered Bank will penalty those who did not follow the agreed contract, whether late payments or early completion.

Should you decide to settle your loan voluntarily, you will need to pay 20% of outstanding interest in addition to 1% of the balance payable. That is why you need to choose the proper loan term for you.

Standard Chartered Loan Calculator

How will you know the estimated amount of your monthly instalments? And is it even imperative?

Nowadays, banks and other financial institutions provide easy-to-use loan calculators. It helps borrowers know how much they must pay if their requested loan amount has been approved. With this, the borrower can see if he can meet the monthly repayments without sacrificing the basic needs.

The loan calculator can also help you decide the number of years you want to pay your car loan. Also, it will help you avoid the prepayment charges too.

5 Smart Questions to Ask on Standard Chartered Bank Car Loan

How much financing should you apply for?

Using an online car loan calculator can help you decide the right amount of financing. Choose the amount you need with the monthly instalment that you can handle. Remember that you are getting a loan to have a better life, not to go deep into debt.

Another thing to consider is your savings. How much downpayment are you willing to pay off? It is best to pay as much downpayment as you can. It will lessen the amount you have to borrow and the interest charge you need to pay.

What are the first steps when purchasing a car with Standard Chartered Bank Car Loan?

When purchasing a car, it is best to learn about the car you need and the possible expenses you need to handle as a car owner. For example, while a vehicle gives convenience, it must be well maintained, refuelled and taxed.

Can you handle additional expenses on top of your current finances? If so, then you can go on and visit car dealers. Check the available makes and models. Read about these units and consider which one is best for your needs.

How does the Standard Chartered Bank Car Loan charge its interest?

Banks’ usual practice is typically to charge what is known as a “flat” or “applied” interest rate. The Amount Financed is constant throughout the loan term. Multiply the loan amount, the Applied Interest Rate and the number of years (Loan Term). It is your total interest to be paid throughout the loan period.

Amount Financed x Applied Interest Rate x Hire Period = Total interest

Are there any charges for early settlement of Standard Chartered Bank Car Loan?

Should you decide to settle your car loan prematurely, you will charge an early completion fee. It is 20% of outstanding interest on top of the additional 1% balance payable.

What to consider if you are financing a used car with Standard Chartered Bank Car Loan?

Standard Chartered Bank Car Loan lets you purchase a used car. However, there are other things that you need to check before you apply for a loan. First, you must have the vehicle appraised to know its current value.

Also, it will help you know how much you have to borrow. Know when to repay the Road Tax and when to renew the COE registration. All these will incur expenses aside from the car loan fees and interest charges.

When getting a car loan, you need to be realistic with the money you have to borrow and your handling amount. There might be a fine line between your wants and needs, but remember that whatever you borrow now has to be paid with interest and other fees in the future.

Another great option is Cash Mart. It approves a low-interest personal loan for any purchase. Check their official website to learn more. 

How To Buy A Car In Singapore With sgCarMart

sgcarmart

How To Buy A Car In Singapore With sgCarMart

Are you wondering how to buy a car in Singapore with sgCarMart? This article is the answer to your question.

For many, buying a car in Singapore is an aspiration. It symbolises that you are financially responsible and can handle such a costly feat.

While using carpool apps and public transport is convenient in Singapore, having a car gives many a desirable status symbol and smooth travel.

However, the Singaporean government has put into place a variety of taxes and fees to control the car population in the city-state and encourage the utilisation of public transport.

In addition, Singapore Land Transport Authority administers various regulations concerning buying and driving a car. As a result, it sets Singapore’s car industry apart from other countries.

If you think you are ready to buy a car, you must first know what type of car you want. It is beyond the brand or model. You also have to consider purchasing a new car or a used car from a trusted car site such as sgCarMart.com.

Why use sgCarMart?

The sgCarMart is not an ordinary car site. It is a wholly-owned subsidiary of Singapore Press Holdings and has the most expansive database of new and used cars for sale in Singapore. In addition, this multi-awarded site boasts 2.6 active visitors a month.

That is why sgCarMart is worth visiting if you want to purchase your car. In addition, it contains essential information and the latest guidelines for car purchasing.

sgCarMart New Car

To maintain its accuracy, the New Cars Section comprises listed prices that are updated twice every month and the latest information on all new car models in the market.

A car buyer can enjoy the detailed description of each car model and provide a convenient way to compare cars both by model and price.

Also, it will give you an overview of how much you have to save to get your car, especially since the provided price list is from Singapore’s authorised distributors and parallel importers.

Furthermore, the site has its own search engine for you to narrow down your search and find your ideal car in a breeze. You can set your minimum price, maximum budget, depreciation each year, vehicle type and category (authorised dealer, parallel importer, Cat A COE, and Cat B COE).

sgCarMart Used Car

The sgCarMart Used Car Section possess the largest and most comprehensive database of used cars in Singapore, complete with photos and pricing. Daily updates are available to keep the current listings accurate.

You can set the search based on:

  1. Make
  2. Model
  3. Price range
  4. Depreciation
  5. Registration date
  6. Engine capacity
  7. Mileage
  8. Vehicle Type

Since the database is always up-to-date, you will see if the vehicle is still available or already sold. Aside from this, you will also see if the seller is the direct owner or an agent (consignment).

How much does it cost to own a car in Singapore?

Various factors contribute to the cost of cars in Singapore. As a buyer, you need to understand how car pricing works. Also, know why most people consider it costly to buy vehicles in Singapore.

Car Registration Fees

You need to pay a Registration Fee of S$220. It is the basic fee paid upon registration of the vehicle.

Open Market Value (OMV)

The OMV is the cost of a vehicle imported into Singapore. Its basis on the assessment of the Singapore Customs.

In getting the OMV, the customs consider several criteria. These are the actual purchase price, freight, insurance and other sale and delivery charges incurred when importing the car to the city-state.

Additional Registration Fee

The Additional Registration Fee (ARF) is a tax collected upon registering a vehicle. The amount of this fee (the ARF rate) is on a percentage of the vehicle’s Open Market Value (OMV).

  • 100% ARF charges the first $20,000 of the OVM.
  • 140% ARF charges on the next $30,000
  • 180% charges on OMV above $50,000.

Road Tax

Road Tax is part of the vehicle ownership tax that you have to pay to own a car. This fee is an ongoing cost that you have to renew every 6 or 12 months.

Ask the seller about the road tax settlement if you buy a used car. As for the seller, they will transfer any remaining road tax on the vehicle to the buyer.

Your road tax will depend on whether your car is electric or not.

The car’s engine capacity will be the road tax for Petrol, Petrol-Compressed Natural Gas (CNG), CNG, or Diesel Cars.

Also, it will determine the road tax for Petro-Electric or Electric Cars based on the power rating of the car.

You must renew your road tax through online payment, AXS services, GIRO, or any Authorised Road Tax Collection Centre before it expires. Late payment will incur fines and risk getting charged in court for using an unregistered vehicle.

If you are not sure of your road tax expiry date or how much fee to pay, you can use the road tax calculator provided on the OneMotoring site.

In addition, here is a guide to help you prepare for your renewal of registration.

When you buy a new car from sgCarMart, they can include the road tax in the total cost of the car. If you buy a used car, the vehicle cost may exclude the road tax. Do not forget to ask the seller about it.

Excise Duty

Singapore Customs also collects excise duty. Another form of tax is 20% of your car’s OMV.

Certificate of Entitlement (COE)

A Certificate of Entitlement (COE) gives you the right to own a vehicle and drive it in Singapore. However, unlike in other countries which have a fixed amount of certificate or ownership based on the vehicle’s cost/model, COE requires buyers to make bidding.

To register your car, you must first bid for a COE during the open bidding exercises conducted twice a month. However, before the bidding starts, LTA will announce the vehicle quota of COEs available for each category.

There are five categories: Cat A (cars up to 1,600cc and no more than 130bhp), B (larger cars above 1600cc or 130bhp), Cat C (Goods vehicles and buses), Cat D (Motorcycles), and Cat E (Open).

The sgCarMart site helps car buyers by posting the most recent COE results:

  • Quota (the number of issued COE)
  • Quota premium (the price of the successful COE bid)
  • Bids received (the number of people bidding)
  • Prevailing Quota Premium (the fee to be paid for COE renewal)
  • Change (Difference between the current and previous price of COE)

Vehicular Emissions Scheme (VES)

VES is for cars registered from 1 January 2018 to 31 December 2019. VES has totally replaced the carbon Emissions-based Vehicle Scheme (CEVS).

The new VES aims to reduce carbon emissions, hydrocarbons, carbon monoxide, nitrogen oxides, and particulate matter that damages the environment.

If you want to compare the fuel cost savings between various vehicles models, you can use the OneMotoring Fuel Cost Calculator. Then, you have to simply type in the make, model, body type, engine type, Maximum Power Output, and other detail to know the CO2 emission of the cars and their Fuel Economy Data.

How will this affect the cost of buying a car?

There are a lot of made changes made from CEVS to VES. Buyers of Toyota Prius Hybrid will need an additional $30,000 to purchase since there will be no longer a rebate. Those interested in buying the Toyota Harrier will require an extra $10,000.

Let’s say you want to buy a new Toyota C-HR 1.2 Turbo in July 2018.

The total cost you have to pay is:

  • Car Registration Fee: $220
  • OMV: $25,713 (as indicated in One Motoring)
  • Excise Duty (20%of OMV): $ 5,142.6
  • COE: $38,941
  • VES: $10,000
  • ARF: $25,713

Basic Cost of Car: $104,650

Toyota C-HR 1.2 Turbo’s recent purchase price is $126,988 (May 2018).

Difference: $22,338 (road tax, sales commission, dealer profits, other fees)

Used Car Surcharge

The surcharge is the tax you have to pay when buying a used car in Singapore from an import. The used car must not be older than 3 years old at registration.

With sgCarMart, these fees are broken down to know how much you pay for the car and your taxes.

How much is a car down payment in Singapore?

In 2016, the Monetary Authority of Singapore (MAS) eased the car loan guides in Singapore three years after tightening them.

The cars with an OMV of $20,000 or less, you can request a car loan up to 70% (previously 60%) of the purchase price. Cars with OMV of more than $20,000 can have a car loan up to 60% (previously 50%) of the purchase price.

Also, it extended up the loan tenure to seven years. It is different from the previous cap of five years.

With all these changes, it simply means that the minimum down payment will be dependent Applicable OMV of the car.

The example above indicates that Toyota C-HR 1.2 Turbo’s OMV is $25,713. It means you can get a loan of as much as 60% of the purchase price. It is $76,192.8, as shown in sgCarMart’s instalment calculator.

How to Buy a Car in Singapore

After choosing the type of car and defining the range of costs you have to pay, you must know how the COE bidding in Singapore works.

RELATED: Where to find the best new car loan in Singapore

What is COE in Singapore?

As mentioned above, your COE or Certificate of Entitlement gives you the right to own and use a vehicle. To obtain your COE, you must first know the bidding period.

The Bidding period usually begins at noon on the 1st and 3rd Mondays of every month. It ends at 4 pm the following Wednesday. The Land Transport Authority (LTA) will announce the period, when it will start and when it will end.

After knowing the bidding period, you must determine which category you have to bid. Then, you will need to use your bank account in either DBS, POSB or OCBC. It contains enough money for the fixed bid deposit based on your category.

You can then place your bid and revise as much as possible since the bids will likely go higher than the minimum quota. Once you get a COE, you have to renew it in 10 years to keep your car.

Shop Around for a New Car or Second Hand Car

Once you have decided which car you want to buy or can afford, you can search in sgCarMart for a seller.

You can select a car and compare it with other vehicles. Then, you can add it to a shortlist to keep track of it. You can also read reviews from the site’s editor and the previous users.

Once you have finally found the best car for you, ask the seller how much you have to pay and the inclusive and exclusive fees.

Sign the Sales Contract

Signing the sales contract means that you have agreed to the indicated terms and conditions. Therefore, it is essential to check the accuracy of the information on the sales contract before attaching your signature to ensure that the car dealer/seller has no hidden charges.

The essential items that must include in the contract are:

  • Description of Model (model, engine capacity and year of manufacture)
  • Colour
  • All of the accessories and options included in the purchase
  • Itemized fees and other included charges
  • Deposit amount
  • Payment terms
  • Delivery period
  • Warranty and any included services package

Never sign an incomplete contract or any document that you do not understand. It is vital what is inclusive of the deal and which is not.

Valuable Sites for Car Buyers

One Motoring

one motoring

One Motoring is a comprehensive portal for all vehicle owners in Singapore. From buying and selling cars to real-time traffic conditions, One Motoring is a handy site for Singaporeans.

From this site, you also access helpful information and online applications for car ownership such as COE bidding, road tax renewal and enquiries on COE rebates.

One Motoring was from LTA  but managed by NCS Portal City.

sgCarMart

sgcarmart

sgCarMart has essential information for car owners and buyers. It fits Singaporeans with various motoring needs. It has four sections: New Cars, Used Cars, Articles and Motor Directory.

The articles provide value-added services to help car owners and buyers make intelligent decisions on whether they want to buy a car or keep the vehicle in good shape. On the other hand, Motor Directory full contact details of merchants offering different products and services.

Conclusion

Buying a car in Singapore is not a simple financial commitment, especially when you can buy just one car for the price of almost two cars in another country.

Before purchasing a car, you must commit to proper financial planning to fully enjoy the convenience of owning a car – the independence of travelling on your own time.

Make sure that all of your documents are in order and use online forms and payment systems to help move the process along faster.

Make your car purchase possible with Cash Mart Singapore. It is a licensed moneylender in the country that financially assists eligible borrowers. So get yourself assessed and take out a loan from them before buying your dream car. 

Quick Facts And Overview Of UOB Personal Loan

UOB Personal Loan

Quick Facts And Overview Of UOB Personal Loan

Learn the quick facts and overview of UOB Personal Loan. It saves you from overwhelming emotion. Thus, it helps you get by on your first time getting a personal loan from a bank.

Most banks and money lenders offer unsecured personal loans with different interest rates and requirements. So it gives most Singaporeans the chance to bridge financial gaps. And with so many options served on a silver platter, will the loan services of UOB fit you best?

Read on to know if this is the best choice for you.

UOB Interest Rate

We all know that loans are not free. Banks and financial institutions need to earn, and one way is through the interest rates and processing fees.

UOB charges a processing fee of 1.8% of the total loan amount regardless of your chosen loan tenor. UOB personal loan can be as short as 12 months up to 60 months, depending on your preference or need.

While the offered flat rate of 8% per year, you need to consider the Effective Interest Rate per annum. It is the most reliable interest rate which you can use to compare loans. UOB’s personal loan interest rate is higher as the loan tenor gets shorter. Let’s say your loan stretches to 12 months. Then the interest rate is 17.94% per year. If you have a 60-month personal loan, the EIR will be 14.94%.

UOB Personal Loan in Singapore

The personal loan is offered to Singapore citizens and permanent residents between 21 to 64 years old. The minimum income of the borrower must be S$30,000 a year.

You can’t get a personal loan from UOB if you neither have a UOB CashPlus Personal Loan nor UOB Credit Card Personal Loan.

UOB Personal Loan in Singapore

Credit: https://www.uob.com.sg/personal/borrow/personal-loan.page

UOB CashPlus Personal Loan

With UOB CashPlus Personal Loan, you can borrow from S$1,000 up to six times (6x) your monthly salary. The loan processing fee may take three to five business days. It will mainly depend on your ability to provide the complete required documents needed to assess your creditworthiness.

If your loan application gets approved, but you change your mind. Note that you cannot cancel it anymore, nor are you allowed to make a partial prepayment. Should you make a cancellation, expect a cancellation fee worth S$150 or 3% of your outstanding balance.

UOB Credit Card Personal Loan

If you plan to apply for a personal loan with a UOB Credit Card, you must first know if your credit card is valid for this transaction. UOB Purchasing Cards, UOB Private Label Cards, and UOB Corporate Cards do not give you the benefit of having a personal loan.

If you have a valid UOB Credit Card, you can apply for a minimum amount of S$1,000 up to an amount not exceeding the card’s credit limit. The loan process will take seven to 10 days business days before it gets approved. Take note that you must also have a good standing as a credit cardholder to prove your creditworthiness.

The total amount of the personal loan, including the processing fee and interest rate, will be charged on the credit card. It means that if you add up all the costs and the loan amount, the total should not go beyond the credit limit.

They will charge the instalment amount to your UOB Credit Card account every month. Should you want to cancel the loan, you will have to pay a cancellation charge of S$150 or 3% of the remaining balance.

Points to Take Note

If you are a non-UOB CashPlus Account holder or a non-Credit Cardholder, you will not complete your loan application. You will have to open a UOB CashPlus account first. Once your loan gets approved, it will be disbursed to the designated savings account from the UOB CashPlus account. Remember that your UOB CashPlus account has an annual membership fee of S$80. If you are not willing to open a CashPlus account, you have to find another personal loan to fit your need.

Also, as mentioned above, the loan process takes around a week or more. Therefore, if you need cash for specific emergency needs, you need to find another personal loan. Look for licensed moneylenders with faster processing, such as Cash Mart’s Personal Loan.

Cash Mart offers a personal loan with flexible terms, competitive interest rates and fewer requirements. Also, you can get your cash in just 30 minutes upon visiting its office at 277 Balestier Road. So apply today and experience the best customer service.

Get the Best UOB Gold Price in Singapore Today!

Gold Price in Singapore

Get the Best UOB Gold Price in Singapore Today!

Are you planning to invest in gold? Then, you need to know the best rates. Get the best UOB Gold Price in Singapore.

When the investors were downcast with a prediction of a 2.3% fall in Singapore’s export, they received a pleasant surprise of a surging 11.6% as the markets closed on June 17, 2016. Three factors have influenced the surge: pharmaceuticals, prefabricated buildings, and gold.

Since May 2015, the exports of “non-monetary gold” have increased by 436.7%.

It is the gold not owned by central banks. Despite the decreasing local gold consumption, Singapore plays a significant part in exporting gold to the global market, especially since the gold dealers want to take advantage of the current market status. Most of Singapore’s gold went to China, Malaysia, and Switzerland.

Gold Price in Singapore Chart

We are admittedly living past the time of barter exchange as the currencies took over.

However, currencies are not stable. They are just bills and coins that will lose power over time since there is no real value backing them up while the gold’s value is consistent, making it the most accurate measurement of fiat currencies in gold.

Most would think that the US dollar should be more dependable than gold. However, the value of the US dollar took a plunge of 98% over the last 50 years. Simply put, what you can buy for a dollar 50 years ago cannot be purchased at the value of a dollar now.

And maybe in the future, your $100 can only buy you a dozen eggs.

A 1 oz gold coin can buy a grand wedding gown today at USD 1,000. The same 1 oz gold coin can buy an extravagant wedding gown at 2,000 tomorrow. Then, the value of the US dollar is one depreciating.

According to BullionStar, gold still retains its purchasing power over time.

It has been known that China buys most of the gold available in the market. Why? Over the years, it has been proven that currencies can fall, but the value of gold stays in the top spot.

This simple fact is the reason enough for many to invest in gold. Some investors believe that soon, you can use gold to purchase assets such as real estate, and eventually, such investments can lead to qualification for second citizenship.

Soon, gold bullion will be the best alternative hard currency on any currency around the globe. So it is better to start investing in it today.

gold price in Singapore

Credit: https://www.reuters.com/article/gold-asia-pricing-idINKBN0EZ19B20140624

How to buy and sell gold at its premium price

Buy Standardized Gold Bullion and Coins

Choose standardized gold bars or coins. It is the best way to invest in gold. For example, you can buy an Austrian Philharmonics or Canadian Maple Leafs. Some coins may be promising but less liquid, such as the gold coins with skulls or bayonets. Less liquid means it will be harder to transform it into cash.

Buying specialized gold coins means paying for a particular design that might be meaningless in most countries.

Should you decide to sell internationally, there would probably be no gold dealer that will appreciate the design regardless of whether it is a limited edition mint coin. As a result, you might sell the coin at a lower value.

Choose Smaller Singapore Gold Bars

If you are new to the industry of gold, you must know that they come in any shape yet with standard conditions of manufacturing, labelling, and record keeping.

Gold is usually measured in ounces, but others use grams. If you are dealing with gold, you must know that it refers to a troy ounce and not the usual avoirdupois ounce you encounter daily. Troy ounce is heavier, which is equivalent to around 31.1 grams.

Gold bars can be in smaller ranges. It includes 20, 10, 5, 1, or 1/2 troy ounce, as well as 500, 250, 100, 50, 20, 10, 5, or 1 gram. Some gold bar sizes are in the Indian measurement weights: tola (11.66 grams), ten tolas (117 grams or 3.75 troy oz), and one tael (50 grams).

It is dense, so expect it to be smaller than its weight. Central banks hold gold reserves in the form of the 400-troy-ounce bar (approx. 12.4 kg). That’s why it is famous as Good Delivery Bar.

If you think of gold as your safety net in case of an economic collapse by using it as a form of currency, it is better to buy the smaller gold bars. Also, it comes in smaller sizes. So, you can trade gold in smaller quantities at a time.

Determine the Singapore Gold Price 916

Karat is the measure of the purity of native gold. It tells the amount of gold mixed with other metals in any form and size. T e 24- karat gold is 0.995 to 0.9999 pure gold. Simply put, many consider the 24 karat gold as 99.9% pure gold.

The 22- Karat, on the other hand, is 91.60% pure gold, bearing a now popular name as 916 gold. Few people call it Indian gold. The higher the karat, the higher its purity, and the more expensive and soft it gets.

Do you want to save a bit of money yet still invest in the grand gold scheme? You can purchase 22 karat gold at the current price of SGD 51.58 per gram now instead of buying 24 karat gold at SGD 56.27 per gram.

Choose The Best Place to Buy and Sell Gold In Singapore

However tempting it is, only deal with the best dealers they offer with lower or no spread. S read means the difference between the purchasing value of gold and its selling value.

Whether you are searching for where to sell gold in Singapore or the best place to buy gold in Singapore, two leading gold buyers and sellers promise none to minimum spread: the BullionStar and UOB.

BullionStar and UOB Gold Price: 50 Gram PAMP gold bar 

  • It sells at USD 2,15­2.76 and buys at USD 2,05­5.87, while UOB sells at USD 2,151.69 and buys at USD 2,078.19,

BullionStar and UOB Gold Price: 100 Gram PAMP gold bar

  • It sells at USD 4,25­0.46 and buys at USD 4,11­1.75, while UOB sells at USD 4,246.96 and buys at USD 4,158.60.

(The basis of prices are on posted prices on the last 15th of June)

BullionStar takes pride in the zero spread option offered at any given time if the buyer will buy at least 10 pieces of BullionStar Mint – Gold Bars.

You can also buy it on eBay or other trusted shops in the United States because they sell at the lowest gold price due to tight competition, yet taking it back to Singapore or keeping it in a vault on a foreign shore might cause you more hassle.

Conclusion 

Many believe that gold is money which makes people interested in investing in it. O  the other hand, some people use gold as their last resort when they get into a financial stint. They go to Singapore pawn shops to pawn their heirloom in exchange for short-term loans with increasing interest rates or sell it to gold buyers and never get it back.

If you need more cash to invest in gold or patch up some financial needs instead of pawning your jewellery, you can go to a licensed money lender and apply for a low-interest personal loan. The application from a top licensed moneylender is quick and simple. Start by visiting Cash Mart today.