No matter how one is stable financially, there comes a time when problems arise and get each one of us off-guard. The solution is to go out of our way and get some financial assistance to bridge the gap and improve the financial process flow. Take an instance of a medical emergency or even the death of a close family member that needs evacuation and last respect. These always get us in an unbearable situation.
In Singapore, tons of moneylenders come in hard to sort such eventualities. It is no doubt that banks cannot afford such swift services. But then the question is, do 24-hour licensed Moneylenders in Singapore exist?
In as much as there are advertisements for such organizations and bearing in mind that Singapore is known for fast loan cash processes due to the nature of activities around, the word 24 hours disbursement may require further clarification before falling into the temptation of entering such a contract.
The answer to this is that there are no 24- hour moneylenders in Singapore. Some organizations have 24-hour support, but this is not an assurance of getting financial support within that time. The only thing is that they run their website round the clock; there is always someone on the ground to offer support on the same, but processing will be done only after the credit committee meets and approvals take place.
So, watch out to avoid being scammed by those companies out there who want to take your hard-earned cash, while indeed you needed support. On the same note, it is important to know that licensed moneylenders in Singapore will only disburse the money in person but do not offer promises on how they will disburse to oneβs bank account.
Take note that any company promising a 24-hour disbursement in most cases is an illegitimate company. To avoid falling prey, there is a need to research the best moneylenders in Singapore and confirm their legitimacy.
Below are some of the characteristics to look for while dealing with such companies.
- Obtain their contacts
A licensed moneylender has a physical office which is important to verify before filing any loan papers. On the same note, they have landline telephone numbers that could be used for further verification.
In the case of scammers or loan sharks, most of them are digital, or briefcase companies and are not registered businesses. Therefore, it is important to confirm their contacts and avoid dealing with unlicensed moneylenders.
- Make a physical Verification.
As much as possible, try your best to ensure a face-to-face verification before any loan is approved.
Settling on a digital conversation will only open a window for loan sharks to work on your finances which can be avoided.
- Mode of advertisements.
Any licensed moneylender is confident of their services, and in such cases, they follow the recommendations set out by the ministry of law. Some of these forms of advertisements include the use of websites that the moneylender legally owns. They can also use business directories in the country or place adverts in a designated place to advertise their business.
However, this is not the case for the loan sharks because they advertise through SMSs and emails, which is not a legitimate way of advertising. If you are hungry for money, you fall into such traps. Be wary of such through extensive research before settling on any of them.
- Charging of interest rates
Whereas licensed moneylenders use the limits set by the ministry when it comes to charging the interest rates, loan sharks charge extremely high because they aim to maximize their profits and not to help one sort of financial emergency. This is why most of them go ahead and offer 24-hour loans, which are not licensed, and one stands to lose.
What are the Advantages of borrowing using a licensed Moneylender?
One of the major reasons people got out to get fast cash loans is the emergency at hand. Suppose one has a legal requirement, a medical emergency, or going through a distressing moment. In that case, a good moneylender offers a fast solution, and the problem becomes a thing of the past.
Since there are tens of them in Singapore, watch out for the best and run with them. Among the most recognized moneylenders in Singapore is the Avis Credit Pte Ltd moneylender.
Why work with Avis Credit Pte Ltd?
AvisβsCredit moneylender is one of the reputable companies in Singapore that you can be sure of getting the best services at any one time. While the 24-hour moneylender does not operate in Singapore, it is indeed evident from the past operations that Avis Credit will offer a fast turnaround and relieve one from the hassle of running to and from looking for the best.
One of the things that make it a reputable organization include the services offered in the online portal, which gives all the information related to online loan applications.
These include.
- An analysis of the eligibility requirements.
- All the documents are required upon submission of the loan application.
- Loan interest is chargeable for the entire period.
- The loan amount that one can access.
- Loan application process and the mode of receiving the loan.
- Any fee is chargeable during the application process.
- Contract terms
- The website also has a list of articles explaining how Avis moneylender works.
All this information is found at https://avismoneylender.com.sg. Do not hesitate to look at it and try it out the next time you need emergency financial support.
Conclusion
Whenever you are looking for emergency cash, do not fall into the trap of the scammers who offer 24 hours loan disbursement services in Singapore. Be sure that these are unlicensed moneylenders, and in case of eventualities, you have nowhere to turn.
Avoid an Online scam that may likely be the first to get in touch with by verifying fully that they are legitimate, avoid offering anything in advance in a bid to fast track your loan, and finally, review the terms and conditions of the loan before signing off the contract. You are good to go with this and will get the best service from the licensed moneylenders around.
