Is It Fine to Find a Moneylender Near Me?

Are you looking for a loan? Is it alright to find a moneylender near me? Get the answers to your questions as you continue reading.

You are not alone. Loans have been part of our culture. It has helped us and the generations before us to survive financial dilemmas and perhaps even reach dreams.

The purpose of loans is not limited to bridging a financial gap towards the next paycheck. You can use it to launch an enterprise, purchase a property, renovate a home, or consolidate debts. Others get a loan to build up their credit score. The bottom line? It is a handy tool for your financial needs.

On the other hand, it is vital to choose your moneylender whom you can entrust your financial needs and personal information.

What is Money Lender?

Of course, we all know that moneylenders are financial institutions. They lend money for you to pay on an agreed term.

And since many of us use loan products for a myriad of purposes, the government has implemented strict laws and regulations. So whether the moneylender is a traditional brick and mortar or online, we must all be critical when choosing the right lender.

Benefits of Licensed Moneylender Near Me

Moneylenders must get a license as mandated under the Moneylenders Act of 2008. So why should you borrow from a licensed moneylender?

Licensed moneylenders charge a nominal interest rate of up to 4% per month. This way, the interest rates are always reasonable and competitive. Also, they strictly abide by the IPTO’s (Insolvency and Public Trustee’s Office) rules. Therefore, it assures you of transparency. Every fee and charge are clear. So you can save yourself from shocking hidden fees.

In addition, your personal details are safe. Licensed moneylenders do not get any access to your SingPass login. Also, you have to personally visit the lending company’s office and provide details about your SingPass. Moreover, they conduct verification checks. Therefore, it is the utmost care to avoid identity theft and other fraudulent activities. As a result, you can avoid tedious bank loan applications. Furthermore, licensed moneylenders have a faster loan process. That’s why it even considers those with no credit history.

You can easily have an idea of the loan amount you can easily handle. Licensed moneylenders conduct a thorough evaluation to know the best terms and loan amount that you can repay at ease.

Avoid Loan Scams

It is never wise to borrow from Ah-Long. It brings stress and financial burden. So they make your life a living nightmare. However, some of them post as genuine as licensed moneylenders. So to avoid loan scams, you must know how to distinguish a loan shark from a licensed moneylender.

Loan sharks prey on unsuspecting victims. First, they intimidate the borrowers into signing a contract with them. Then, they use harassment to force borrowers to pay unsurmountable charges. Licensed moneylenders have transparent fees and follow the OPTO guidelines on loan process and collections.

Moneylender Review

For you to choose the best lender, most people use moneylender reviews. This way, they can quickly know which are helpful and the most reliable ones. They get an idea of how popular a moneylender is. Plus, it indicates how many it has served. Also, it shows how people think about it. Therefore, you can see if people are satisfied with their lending experiences.

Here’s the kicker: a review site can’t give you all the details. Not all testimonies are done to help other Singaporean borrowers. Some may just be letting out their frustrations. So they give feedback on the poor experience. In addition, not all borrowers with good lending experiences write reviews. We must accept that many of us still want our borrowing deals kept private.

Moneylender Near Me vs Cash Mart

Here’s the scenario. You go to the nearest moneylender with your documents. Apparently, you have to go back home and fetch other requirements you fail to bring. Since the office is about to close, you have to go back the next day to continue the process. So you have stayed a bit longer just to fill in the application.

What if you can apply for a loan while sitting on your comfortable chair and sipping coffee? Isn’t it convenient to apply any time of the day? Then, get preapproved instantly and just drop by the office to pick up the cash.

It gets better! All it takes is a 30-minute visit to Cash Mart’s office.

Why Cash Mart?

Cash Mart Private Limited (CMPL) is at 277 Balestier Road. It was founded with the vision that every Singaporean can have a reliable financial partner. Since 1969, Cash Mart is still committed to building lasting relationships with our customers.

Dedicated to being the best, Cash Mart has created innovative loan products for Singaporeans from all walks of life. We offer small-cap express loans to accommodate even the low-income earners.

With 48 years of lending experience, why does Cash Mart still charm new and loyal Singaporean borrowers?

Cash Mart has a smooth online application. There is no need to drop by its humble office to start your loan process. Go to www.cashmart.sg and key in your basic details. Expect a call within a day to get a pre-approval. Then, go to Balestier Road to chat with the loans executive and have your documents verified. Expect your funds to be disbursed in half an hour.

It’s not just the cash loan. Also, you will feel the dedication Cash Mart employees have. They sit with the borrower and get to know their personal perspective. This way, loan executives can efficiently assist the borrowers towards the term and loan amount that best fit their needs.

And though Cash Mart has its accessible abode in Balestier Road, you can inquire any time of the day, anywhere you are. Just log in to its website even in the wee hours. So why do you have to find a moneylender near you when Cash Mart is just right at your fingertips?