Licensed Moneylenders Raffles Place
Raffles Place
Raffles Place is the centre of the financial district of Singapore. It is in the southern part of the Singapore River.
In early 1820, Raffles Place was called the Commercial Square, which serves as the hub of the commercial zone of Singapore in the Raffles Town Plan.
Later on, a number of major banks developed on the site, together with the tallest buildings and landmarks in the country. UOB Plaza, One Raffles Place, Republic Plaza, Singapore Land Tower, and OCBC Centre.
Recently, Licensed Moneylenders in Raffles Place took over in providing financial assistance to the citizens of Raffles Place.
Getting a Personal Loan from Licensed Moneylenders in Raffles Place
Take out a personal loan with a licensed money lender in Raffles Place when in financial trouble. It can solve your financial problems and keeps you away from them. Just follow these steps.
- Know why you need an instant online loan and which trusted money lender you will go to. Also, you must establish the main reason for your loan application to keep you on the right track.
- Visit the official website of the licensed money lender in Raffles Place. Then, submit your completed online application form.
- Talk with the representative. In addition, they will assess your request and wait if your online loan application is pre-approved. Once granted, the representative will further discuss the next steps.
- Drop by the moneylender’s office. Don’t forget to bring your requirements to finish off your application. It is a one-stop visit since you will know the verdict if approved or rejected.
- Once approved, sign the contract with full comprehension. Always ask for your copy after the contract has been notarized.
- Wait for your cash disbursement. Furthermore, count your cash on hand and check if it tallies in your receipt.
- Pay off your loan diligently. Do not miss a payment and never default on your loan.
- Applying for a payday loan now is easy, unlike before. With technology, everything is now online. Also, you can start your loan process even at home. Have a secured loan procedure with the licensed money lenders in Raffles Place. Moreover, be sure to repay on time. You’ll benefit from your future financial plans.
Distinguish Legal Money Lenders in Raffles Place
Loan sharks are everywhere. Even the most reputable looking money lender can be a loan shark. Beware of them by observing the following features.
Claims original documents
Loan sharks force borrowers to give them the original copy of their documents. The Registry of Moneylenders strictly prohibits this. Therefore, you only need to submit the photocopied documents to the licensed moneylenders in Raffles Place.
Unlisted licensed money lenders
The Registry of Moneylenders is responsible for checking out if a lender is licensed or not. That’s why they provided a list of licensed money lenders in Singapore. Also, you can check it out online to verify your lender’s license.
Displays threatening behaviour
Lenders persuade borrowers to take out a personal loan in their institution. Loan sharks convince you in a disturbing and threatening manner. In addition, they will not allow you to reject their offers. Plus, they pressure you to get the loan without thinking twice.
Vague contract statement
The contract is the financial transparency agreement between the reliable lender and the borrower. Therefore, everything written in the contract must be understandable and agreed with both parties.
However, loan sharks do the opposite because their contract contains irrelevant statements. Sometimes, there are hidden charges and fees. Therefore, you must watch out for them.
In addition, loan sharks do not give the borrower their copy. As stated by the law, you must have your own copy similar to what you have initially signed.
Solo document process
Do not believe you can get loan approval with just a single document. Loan sharks attract borrowers with this process, but this is not possible. There is always a list of required documents to be submitted. Furthermore, they need to check your credibility as a borrower and repay on time.
These serve as a warning on how loan sharks work. Stay away from them. You will always feel safe and secure whenever you’re taking out a personal loan with the licensed money lenders in Raffles Place.
Report Unlicensed Moneylenders in Raffles Place
Identifying loan sharks is a good way to avoid them. But, it is best if you can prevent potential borrowers from falling into their trap. Therefore, if you encounter an unlicensed moneylender, do the following:
- Contact the Registry immediately with the telephone number 1800-2255-529. Do not hesitate to report the unjust doing of a lender. Moreover, save other borrowers by calling the authorities.
- Attend the interview for further investigation. Once you have notified the Registry about your concern, they will conduct an immediate investigation that will start with you. Also, provide all the information with documents as proof and be honest. Remember that you’ll be sued if you’re untruthful with your words.
On top of that, all the information disclosed is private to keep you safe and secure from possible threats. You can only bring certain details if you have given consent.
- If a money lender is proven to have engaged in an unjust activity, you can proceed with your complaint to the Small Claims Tribunal or The Court Under the Consumer Protection Act (Fair Trading). Furthermore, the court has the power to set aside loan transactions that are substantially unfair to borrowers and other licensed moneylenders.
Always be guarded against loan sharks and unlicensed moneylenders. Keep other borrowers safe from them by doing the necessary actions needed. Have a safe and secure transaction at all times.
Licensed money lenders in Raffles Place display the right characteristics to attract borrowers. They assist in solving your financial problem by giving out flexible loan solutions. Keep your transactions legal and always pay them off as expected. Have a safe and secure loan application at all times.