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If you reside in Singapore, you might already be aware that many moneylenders are willing to lend you money. As a result, you don’t have to rely on the banks solely. In fact, altogether, there are over 150 licensed moneylenders in Singapore as of 1 October  2019.  It is much …
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Singaporeans are constantly in need of money to pay their medical bills, college fees, consolidate debts, or fund a wedding. No wonder, this country has a variety of services, willing to lend personal loans to people in need. Currently, Singapore has 158 licensed moneylenders who can lend money to people …
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Taking a personal loan is a big decision in one’s life. In Singapore, there’s absolutely no shortage of options when it comes to personal loans. Both banks and licensed moneylenders are striving to make the personal loan procurement process convenient and quick. Both these credit options may or may not …
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Ever received a text message from someone you don’t know, offering you a fast loan without a minimum salary? Chances are, a loan shark has targeted you. And you are not alone. A loan shark is someone within a personal or professional network offering to grant fast loans for large …
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Unlike personal loans from licensed moneylenders in Singapore, a loan to friend rarely attracts an interest rate. As a result, you need to be careful about who you lend money to avoid challenges down the road. Before we proceed and look at some of the frequently asked questions about lending …
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Saving money is one of the life skills that you need to nurture to improve and safeguard your financial stability. A shocking report shows that if you start saving for your retirement when you clock 45 years, you will have no option but to save four times your annual salary …
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Even though most Singaporeans are financially stable and the economy in the country is relatively sound, the cost of living is still unbearable to most people. Getting a loan from a financial institution to foot monthly bills is not a good idea. As a result, most people opt to get …
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Every once in a while, you are bound to take out a loan. According to the latest statistics released by the Monetary Authority of Singapore, loan uptake has grown by 4.7% year-to-date. This article covers the top ten frequently asked questions by people looking to obtain a loan from licensed moneylenders …
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Neither a borrower nor a lender be; / For loan oft loses both itself and friend. Polonius, King Claudius’s Chief Counsellor in Shakespeare’s Hamlet When you are in a financial crisis and your back is against the wall, borrowing from a loved one may seem like an easier and more …
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Short-term loans, namely personal and payday loans are increasingly being used by the Singaporeans to take care of their requirements. However, most borrowers are unaware of the debt collection process that ensues. So, when they fail to pay back their loan and experience unreasonable or illegal conduct by debt collectors, …
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The cost of living in Singapore is high. With the housing, transportation, and health costs increasing month on month, it can be tough to live a comfortable life in this country. Add to this the cost of nice-to-haves like a luxury vacation, a swanky car, or the latest smartphones and …
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A vast majority of Singaporeans rely on alternative sources of finance for their education, leisure, health, wedding, and other expenses. However, in Singapore, taking a loan is often seen in a bad light. In fact, several myths about moneylending prevent the citizens of Singapore from approaching moneylenders, forcing them to …
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A report by The World Population Review reveals that Singapore is among the most expensive countries in the world with a cost-of-living index of about 80. Source: http://worldpopulationreview.com/countries/most-expensive-countries-to-live-in/ This high cost of living often forces Singaporeans to spend a large portion of their salary on securing a roof over their …
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Borrowing from a private moneylender in Singapore can be a stressful experience. Despite the efforts of the authorities, the cases of loansharking and unlicensed moneylending (UML) harassment are increasing year on year. In fact, a recent news report published in the South China Morning Post shares that in 2018, the …
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