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.
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.
Loan sharks are everywhere. Even the most reputable looking money lender can be a loan shark. Beware of them by observing the following features.
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.
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.
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.
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.
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.
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:
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.
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.