The process of loan is very easy only if you fall into the eligibility criteria and that is listed as follows. To be eligible for this loan you need to be a permanent resident or a Singaporean citizen. Even if you are not a Singaporean citizen we do provide loans for foreigners in a different category. The age of the benefactor should be more than 20 years and less than 60 years old. The minimum earnings of the benefactor should be at least $1667 per month. In some rare cases, a guarantor may be required. Max credit is one of the moneylenders singapore which makes many people’s life easy.
Before taking a loan there are a few things that you need to think and ensure that you require the loan and can repay it at the right time. Taking a loan is a matter of responsibility so you need to understand that before you borrow anything check if you need it.
- Consider and rethink about your reasons for taking the loan.
- Only if you think that is very important then you can go for the loan or else you will add up too many responsibilities for you to fulfill in the future.
- It is thoughtful of you to consider your monthly liabilities like House Motorgages, vehicle payment, insurance, internet broadband, utility bill, phone bills, and food.
- After you list out all the bills and still say that you have money to repay for your loan only then consider taking one.
- Only if you repay your monthly installment on time then you will not have too much of burden in the coming years.
- Taking a loan beyond your repayment capacity is not a good move at all. Always have a proper record of how many loans you have taken.
- Taking too many loans from many sources is not a good idea as it will prevent you to repay all the amount for the time given by them.
- Always check the terms and conditions of the organization before you take any loan. Because a few loans like personal loans might have a legal binding.
- The information that you provide about yourself should be correct.
- The moneylenders singapore who provide you loans are very keen on the information that you provide and if they find that you have given any false information then they will take serious action against you.
- The loan application will surely involve process charges for its processing.
- Before you take the loan have a clear idea about these charges.
- Before you sign read out the entire agreement very keenly especially about the interest rate and the repayment amount.
- When your sign on the agreement, you agree to all the rules terms and conditions provided by them.