Finance

Best Singapore licensed moneylender

Getting a loan has become more difficult, but there are also good reasons for which you should be able to take out a loan. Think of buying a new car, buying household effects after a divorce, etc. Below are some tips that can help you find best Singapore licensed moneylender. Use this together with our calculations. Always ask for multiple quotations and compare them well and critically.

 

Do not go for convenience

There is almost always a (too) high price for convenience. Do not take out a loan when buying a new car, TV or washing machine. You can be sure that you pay too much for your loan. Red is also on your bank account, credit card and buy on payment are usually the most expensive forms of credit, sometimes you pay up to 10% more interest than on a cheap loan. Looking for a cheap loan yourself usually yields more than good bargaining when buying.Calculate the costs of a loan and compare possible loans.

Beware of low interest rates

Low interest rates sounds appealing, but is often a temporary offer. Therefore, please make sure that the low interest rate is a temporary offer, and what the interest rate will be after the promotional period.

Compare providers

There are many providers of loans. In addition to all banks, there are also specialized lenders. These lenders are often cheaper than your home bank, or another major bank. Because cheap lenders work a lot via the Internet and have a lower internal overhead, they can often offer cheaper loans.

Singapore lowest interest rate housing loan

Looking for the cheapest loan? Do not hesitate to play out the competition between the banks. Not even if you are looking for a review of your existing loan. Pay attention to the pitfalls.

Anyone looking for a loan for the purchase or construction of a home does not have to limit itself to a round of banks. Those who do not qualify for these loans may have to do a round of banks. And you do not start off unprepared. To find Singapore lowest interest rate housing loan, you need to create a list of questions to ask:

  • Which interest rate do I get?
  • How much is my monthly installment?
  • Can the interest rate be adjusted and when?
  • How much can the interest rate rise?
  • When do I have to start paying off?
  • Is my interest rate linked to certain things?
  • How much do I have to pay for my debt balance insurance?
  • Do I have to take out my fire insurance through the bank?
  • How much are the file costs? And the estimation costs? And the notary fees for writing the loan?
  • Cannot part of a mortgage power of attorney be taken instead of a full mortgage registration?

With that list you can go to your trusted banker. But do not sign anything that first time. Just let the information penetrate. With the offer of your banker you can go to the competition.