In many instances in life, we face a situation where we do not possess enough hard cash to get by. It could be entering a university for a degree, organizing your wedding, renovating your home, medical debts or a host of other situations where there is a cash crunch. Thus, it is common for people in these situations to go for easy loan Singapore.
Banks vs Moneylenders
Generally, banks are the first option that people turn to for loans. However, is it a viable option? Getting loans sanctioned through banks, involve a lot of scrutinizing and paperwork. For people who cannot afford to go through a time-consuming process, banks may not be the best option.
A word of caution
The next and most logical step would be to visit a licensed moneylender. The Registry of Moneylenders is a national website that displays a list of all the licensed moneylenders in the country. These entities not only provide quick loans but also have transparency in their processes.
If you do not perform a clear background check on your moneylender, there is a risk of getting scammed. Even with a genuine moneylender, go through the terms and conditions of the loan thoroughly before getting into a contract.