There are many money lending companies in Singapore and that makes it hard to find out that which company is the best and have more benefits. There are many ways to find out that, which company is worthy and good. The company, which is charging lowest interest rate, will be better. Company which is not charging any extra fee of any kind will also be very beneficial but the best thing will be to find out a company which is providing the many types of loan so that you can apply for which ever type of loan you want. The most crucial thing is to borrow money from licensed money lender only. If a person is getting loan from an unlicensed moneylenders, he is committing a crime according to the law of signore. The law will not be able to help the borrower in case of frauds, in fact the borrower himself can be charged by involving in a crime.
There are some legal rules and regulations decided by the law of the country to protect the borrower from any wrong doings of the lenders. These rules give the borrower the right to take legal action against the lender even if he tells a small lie or try to cheat. It is important for the licensed lender and the people who are working under him to follow all the legalities of the loan otherwise the license owner will be consider responsible for the fraud along with the person who has actually cheated.
The licensed lender cannot use any kind of marketing and promotion so if a lender is doing so, you should be aware that he does not have license. To find out about the lender and his reputation, you can search through the market and ask from other people or you can search for the history of the lender. If the lender is following the law of Singapore properly and truly then he will not hesitate to show you the registration and license number. If a lender is hesitation, you should know that he is not a reliable person.
To find the reputation of the lender, the borrower should ask the clientele history of the lender. He should also know that for how many years the lender is working in this field. If he is old that means that he is not doing anything illegal otherwise he wouldn’t have last very long because of the tough rules of the country https://easycredit.com.sg.
To find all the licensed lenders in the area, you can search through internet. There is a list available on internet of all those lenders who are giving money legally. There are many different websites, which are providing the clients review of the company along with the name and information. That make it easier for you to make a list of lenders you want to check out. These websites will tell you about all types of loans each company is providing and you can know about the benefits of each kind to understand which type of loan is best for you.