Difference of Legal Money Lenders and Banks in Singapore

best moneylenders in SingaporeLegal moneylenders are people with legit businesses that lend money to those who need it, charge interest on repayments but do so by abiding by the law. There are many reasons why people would borrow money from a lender such as last minute bills, fixing the car or educational purposes. Regardless of the situation you’d be better off borrowing smaller loan amounts from the best moneylenders in Singapore and it’s in your interest for them to be licensed.

Legal money lenders are required by the law to explain the conditions of the loan to you in a language you understand. They must give you a copy of the contract containing details of your repayment schedule, the interest rate and any …