Licensed Moneylenders Kallang

Kallang

Kallang is one of the planning areas and residential towns in the Central Region of Singapore. Its development focus is on the Kallang River, the longest river in Singapore. 

The town of Kallang houses several national landmarks. Examples are the old National Stadium and Kallang Airport. 

As of today, Kallang is popular for being the location of Jalan Besar Stadium and the Singapore Sports Hub. In the new National Stadium and Singapore Indoor Stadium, various events occur. These were National Day Parades in 2016, and world-class concerts and performances happened, respectively. 

Also, Kallang is known as the best-licensed moneylending institution. It gives out a wide variety of products and services for its residents, citizens and ex-pats. 

How does Money Lending work in Kallang?

Have you ever thought of getting an instant payday loan? Do you need an idea of how the lending process works? If your answer is yes, then you’re on the right page.

We’ll discuss the step by step procedure to ensure that big yes for your instant cash.

Search for the best-online licensed moneylender near you.

Several lending companies may be in your area. But not all are legit. So make sure to differentiate a real one from a fraud. 

Send in your instant payday loan application online.

You can start your loan process even at home with the digital world now. First, check the official website of the licensed moneylender you have chosen. Next, fill up the application form and then submit it. 

Chat with the lending company’s representative.

As the lending company browse your request, a representative will contact you. Always have your active phone with you. So you can answer their call. In addition, listen carefully to the representative. He will discuss the requirements needed and the steps to follow.

Complete all your requirements. 

To ensure a fast transaction and loan approval, gather all the documents required. Be reminded that the original copy stays with you. Also, the submission of requirements is made personally at the lending company’s office.

Visit the moneylending office. 

Going to the licensed moneylender’s office won’t take much of your time. You’ll be there to submit your documents and talk with the executive. Furthermore, expect a thorough interview as they assess your request. Don’t be scared. Staffs of reputable lenders are friendly and accommodating. 

Affix your signature on the contract.

Read first the contract and compare it to what you have agreed with the executive. If all the details are correct, sign the contract. Ask for your copy.

Receive your instant loan cash and repay on time.

Wait for the signal from the executive if you can claim your instant cash from the cashier. Always ask for a receipt. Also, always remember your repayment schedule. 

You can have your quick cash in just seven easy steps of your unsecured personal loan application. Just repay on time. 

Criteria of Licensed Moneylenders in Kallang

Due to the high demand for borrowers, lending institutions grow in population. However, tricky lenders are lurking for their prey. These are loan sharks that you must avoid at all costs. For your safety, be familiar with the following characteristics of licensed moneylenders in Singapore.

Offers short-term loans

Licensed moneylenders in Kallang encourage borrowers to take short-term loans for their convenience. You can finish your financial obligation fast and take up another loan afterwards. 

Imagine if you take a long-term loan, your interest rate adds up in the long run. In the end, making you pay more than you should. 

Enhanced official website 

As regulated by the Ministry of Law, licensed moneylenders must follow the proper way to promote their products and services. It is unacceptable to send it through applications, flyers, social media, and other advertisements. 

Licensed moneylenders in Kallang abide by this regulation. That’s why they focus on enhancing the website itself. 

Allows pre-termination

Typically, other lending institution charges pre-termination when you settle your loan ahead of time. 

On the other hand, licensed moneylenders in Kallang do not collect such charges. Therefore, you can finish your financial obligation ahead without paying more. Therefore, always choose this kind of lender.

Regulated loanable amount 

Every Singaporean citizen, resident and even foreigner has a ceiling amount for a loan based on the regular annual salary. It is centralised according to the Credit Bureau. 

Licensed moneylenders in Kallang do not promise a certain amount to borrowers, regardless of whether you have a credit history. However, it is one of their best assets, their compliance with what is instructed by the Ministry of Law. 

Flexible payment scheme

You may encounter lending institutions requiring postdated checks as your repayment. However, this is strictly prohibited.

Keep in mind that your loan amount is payable thru online payments like PayNow or office payment. So for a safer transaction, keep your receipt. 

Build credit score

As you pay your flexible loan on time, your lender grades you, reflected in your credit score. A good credit score means you’re a low-risk borrower. As a result, banks and moneylending companies will most likely approve your loan. 

Licensed moneylenders in Kallang always give their borrowers good feedback who follow the terms and conditions. 

Your payday loan is not meant for emergency purposes only. You can utilise your loan cash for investment, business expansion, and probably other reasons. So stay safe by dealing only with the legit and reputable lenders just like the licensed moneylenders in Kallang. 

After claiming your quick cash, focus on how you’ll repay your loan amount. Being a good borrower is shown how a good payer you are. Always repay diligently.