When you need to look for legal money lending institutions in countries like Singapore, there are many. However, there are also some fake ones hidden in the crowd. When you need to enjoy the benefits of the personal loan completely, you should choose the reputed and honest one to have your personal.
Singapore is the country that has a set of rules to help the citizens to enjoy life with comfortable financial conditions. However, only when you choose the right company, you can enjoy all the services beneficially. Here are the qualities that you need to look for in the money lender company.
Look for the credibility
The reputation of the company has to be considered as the foremost quality. You need to get into the site of the company and look for the license to affirm its validness and then validate the way that the company could operate legally. Also, you can look for the number of years that the service provider was in the field. This is also the tool to find the efficiency of the service in this industry.
Adhere to the money lending rules in Singapore
The honest money lender will not be like loan sharks. They will follow the rules and keep updating with the new rules if any. If the company follow the guidelines set by the law ministry, all the cost like the processing fee, maintaining the leading limits, documentation and several other costs will be reasonable. Further, there will not be any additional hidden charges as well. When it comes to advertising, they will not do it randomly. They will follow the right channel to advertise and you cannot see even single misleading adverts. Besides, you can also look for properly maintained loan records.
They will not charge for the consultation
When you reach the unscrupulous money lenders, you can find that they are concerned only over making the sale and they will try in all possible ways to make you get the loan. They will even push you into some unappealing personal loan deals. From their perspective, you are just the money minting machine and they should make profit and business. When you are choosing the licensed and authenticated one, they will believe in professional service and offer only authenticated advice. They will explain both the positive and negative effects that you will enjoy with the personal loan. Most importantly they will not charge any cost to have this advice or consultation.
All these charges will be reasonable
There are some additional fees like processing fee and it will be reasonable with the licensed ones. When you choose the fake ones, they will quote as high as possible. As per the law, these changes should be less than 10 percent of the total principal amount. No reputed one will take advantage of your financial needs just to make money.
You will get enough proof
If it is the genuine money lender, you will have a copy of the contract immediately after the approval of the loan. You can also look for plenty of original documents on the premises. Also, you will have a receipt for all the payments that you make. Further, you will have all clear and more transparent terms and conditions.
No hidden cost
Some lenders will add up some additional loan clauses in the fine print and they will not inform the borrowers. They will know only during the time of repayment and when they are careless, they will not know it forever. This will not happen in case of genuine money lenders like CRAWFORT in Singapore. You will have clear information about all the charges you pay.
The fake ones will help you till you take the loan and will not even respond after the process gets over. They, they will contact you only when you fail to pay the installments. When you have the service from the licensed one, they will assist you till the repayment of the loan. You can contact them at any time and get the necessary information.
Fast approval for the money you ask for
When you need to have your loan, some documents are significant. When you submit the necessary documents, sometime will take for processing it and the loan will be sanctioned. Also, they will offer the money that you need. When it is not a genuine company, they will try to force you to opt for a huge amount just insisting on some offers.
Be aware to choose the right service provider
Remember that you are dealing with the money aspects. So, you should be enough cautious about choosing the right service provider. Make sure you understand the most important qualities and choose the trustworthy one.