A personal foreigner loan in Singapore is a loan that is offered by a non-bank lender to a foreigner. The loan is different from bank loans in that no security is needed, your credit history is not considered, and you get the loan within a few days or even hours. There are several non-bank lenders offering these types of loans in Singapore, some better than others. Understanding the qualities of a good company will help you make an informed decision.
A good company is one that is a licensed money lender in Singapore. Singapore has strict regulations that regulate the industry and picking a company that is licensed is an important vetting step. Go for a company that has been in business for several years. Such a company will have the necessary experience and expertise to offer good products.
You should only go for a company that has a variety of loan options. This allows you to get exactly what you are looking for. The company should have such options as short-term loans like payday loans, foreigner loans, house loans, and fast cash. The company should offer its service with respect and dignity. The company should deal with you in the most confidential manner. There is still some stigma around borrowing money.
The personal loans company should not have hidden costs. You expect to pay an early redemption fee should you pay off your loan early. This should not be too hefty. Another loan you expect to pay is a feature cancellation charge if your loan has a particular product feature. Other fees that you expect to pay are due date adjustment fees following installment adjustments, statement retrieval fees, non-GIRO admin fees for failure to make repayments through GIRO, unsuccessful GIRO fees, and bounced cheque fees. Others are late payment admin fee and late payment interest.
A good company is one that has a strong online presence. You should be able to file your application online. All that you should have to do at the company’s premise is sign the necessary documents. The company should offer 24/7 customer service so that any question you may have can be answered.
If you want a good foreigner personal or any other short-term loan, go toQV credit. We are a licensed moneylender group offering loans to Singapore Citizen or foreigners. Our eligibility criterion is minimal. Our loans are fast approved and have low interest. The repayment options are also very flexible. Visit us today to get a foreigner loan Singapore.