With too many advertisements and recommendations, you might feel perplexed about finding an online money lender that genuinely attend to your needs. But following some practical and not-so-tough pointers can be an excellent way to help you get started.
Is It Registered And Recognized?
Check the website of Registry of Moneylender in Singapore or MAS and see whether your chosen company has its name in their listing. The government directly regulates the recognized money lending agencies in Singapore. So as a borrower, your rights would stay well protected. On the other hand, loan sharks or unregistered money lenders can charge high rates of interest, as well as follow unlawful ways to collect reimbursement.
SingPass Login Is a Big NO
A regulated online money lending agency can ask you to out in your SingPass on the computer. However, it would never ask to have access to it.
You Will Not Get What You Want
Basically, the most responsible money lending agencies would not lend an amount that is hefty enough for the borrower to pay easily. On the other hand, the illegal loan sharks would approve whatever amount you are asking for. A proficient online loan provider, on the other hand, would always aim to keep you stay well-informed about the latest financial advancements. It will help you to keep better control of your finances. You can check companies like https://maxcredit.sg/services/payday-loan/ to have a better understanding of how these agencies work.
You will receive a no-obligation quote of rate and requisites of repayment from your money lender. A responsible firm will also furnish the details of applicable fees, if any, before you sign the contract.
Is The Company Physically Visible?
Ensure that your online lending agency is not just another ‘cowboy’ company that aims to grasp your personal information for fraudulent activities. Hence, check whether your chosen company has a physical office. Also, do your research to see whether that company actually exists. Also, check the testimonials that these companies are backed with.
Websites and More
Having a website is not enough to ensure that your chosen company is believable. Check whether the site is updated on a regular basis. The design of the website, in particular, is going to speak a lot about them. An agency, which is serious in its business, will take care to make the company website secure and user-friendly. Finally, remember that a professional-looking website would have lucid contents, with error-free write and pertinent write-ups.