Borrowing money from a legal money lender in Singapore has never been so easy. It is an option you should consider when you need urgent cash. It is also a good idea for individuals with debt to pay it off more quickly.
However, with many false stories going around, you might be in between trusting or not. There are several mistaken ideas regarding hard money lenders floating around.
Here are five myths you should stop believing:
It requires an annual income
Bank loans often require S$30,000 and above before a person can acquire a loan. However, an SG money lender or moneylender can loan you money even when you make less.
Still, remember that the amount you can loan is limited based on your annual earnings and your loan repayment capacity. Do not be tempted to loan an amount you’re not sure you can pay.
It has high interest rates
Many people think that personal loans have excessively high-interest rates. People generally think personal loans are pricey, yet they may be cheaper than other loans and sometimes even credit cards.
A legal money lender in Singapore can help you understand what you need to know before applying for one.
It takes advantage of the borrowers
Compared to loan sharks or "Ah long" in Singapore, a legal money lender in Singapore is not opportunistic.
Consumers know what they're signing up for with a clear, straightforward contract with the proper legal process.
The process takes too long
Obtaining a personal loan is far easier than securing an auto or mortgage loan. The process is simpler than it used to be: Complete an application and wait for it to be approved in a few minutes to a few days.
If you are searching for the best money lender in Singapore, consider Apply Loan SG and know more about their offers.
Resource: https://industrial-blog.site123.me/blog/4-myths-about-legal-money-lender-in-singapore
