A monthly installment loan refers to a loan where the contractual terms of the borrower and the lender are defined for repayment on a specific month. The total amount payable every month is subdivided into two sections, mainly; the interest and the principal amount.
A licensed Moneylender, in this case, is a company that engages in giving out loans to borrowers who are in need of finances to cater to their long-term or short-term obligations. In Singapore, such organizations are governed by the Ministry of Law to ensure that they give their citizens clean loans at any given time.
In Singapore, most licensed moneylenders operate under the monthly installment formula to recover their money without many challenges. They have websites where borrowers can refer and decide on the type of loan they would wish to access from them.
Taking this into account, it is essential then to check on the moneylender and check on their legitimacy before engaging with them.
How to determine if a Moneylender is Legitimate
- License Status– When it comes to Legal Moneylenders, they are quick to produce their operations license. This helps build confidence in such a company instead of illegal moneylenders who will use tactics to convince the borrower about their legitimacy. Still, they indeed do not have any physical license to prove that they operate legally.
- Mode of Operation– Illegal Moneylenders, well loan as loan sharks will quickly convince one how to borrow money online, without proof of their physical offices. On the other hand, a licensed moneylender will be happy to show the borrower their physical office and give the website address that has all the information about their loans, license numbers, and how they can be contacted in case of any need.
- Sharing of SingPass-Any licensed and Legal moneylenders will always go through the available channels of sharing information provided by the government. However, when it comes to illegal Moneylenders, will lure the borrower into sharing the SingPass. All the details will be captured by the loan sharks, who will later use the information to defraud you or use your details for other fraudulent activities. Always avoid such occurrences by ensuring that you qualify as a moneylender by interviewing, researching, and making the right decision.
With this understanding, we are in a position to know what a monthly installment loan is and who a licensed Moneylender is. We proceed to detail how an emergency loan, whether personal, business or any other form of loan, can positively impact the borrower’s life. This can only be done by considering several factors that will enable the borrower to stay in line and avoid messing up with their financial status.
- Get to know the Best InstalmentLoans in Singapore.
As mentioned before, ascertaining the right moneylender will enable the borrower to have an easy time from the point of application to the very end of the loan repayment. Researching for such is essential. Several of them are in Singapore, but this article will highlight one monthly Installment for Licensed Moneylenders. This one is Avis Credit Pte Ltd.
This is one of the renewed moneylenders in Singapore that has provided efficient services to the citizens and other residents who qualify for their loans. Some of the best products they offer include personal loans, business loans, short-term loans to cater for emergencies, and many more. The Moneylender event goes to the extent of tailor-making a product to match the needs of the borrower.
Avis Moneylender is an easy company to talk to and has the best deals on the loans they wish to advance.
Whether it is for personal use, adding capital to your business, or paying for education for the children, look no further but work with Avis Credit Pte Ltd, a licensed moneylender SG like no other.
If you wish to make an application, visit https://avismoneylender.com.sg/ for more information, and be sure that you will be satisfied with the kind of service Avis Credit (sg) will offer.
Other Reasons to Work with Avis Credit Pte Ltd
- Low-interest rates– There is a notion that Moneylenders charge high interest rates as compared to banks. However, this is not the case with Avis and another monthly installment licensed Moneylender in Singapore. Since the government regulates them under the Ministry of Law, they focus on the needs of customers by abiding with the government-approved rates. Avis happens to be offering the best rates in town, and many borrowers have left positive reviews.
Remember that low interest rates go together with other hidden costs, and as such, it’s essential to know all the costs in place before making a final decision.
- Customer Service– If there is anything that you can be proud of, get a good customer service experience with any Company. Avis Credit has a customer service character of another level. Any queries raised are closed within the shortest time possible, and the staff is ready to assist, deliver, and follow up for any other emerging issues.
- Flexible Monthly Repayment Terms- While companies dictate the number and number of installments payable monthly, Avis credit gives the borrower an option to express themselves depending on their ability to pay back.
This ensures that there will be minimal or no default because the customer’s needs are put in place, whether on a long-term or a short-term basis.
So next time you are searching for a Moneylender that will help to meet your financial obligations, look no further than a purpose to work with Avis Credit (SG) Pte Ltd at all times.
Conclusion
In most cases, monthly installment loans are tailor-made to help the borrower alleviate the financial pressures that come up daily. Therefore, as you consider taking one, keep in mind that you have the flexibility to repay the loan and meet these pressing financial obligations.
If you meet the qualifications, do not misuse the finances. Use the money for the purpose it was applied for; otherwise, you stand to lose track and mess up with the financial obligations. Always take care.
