GM Creditz Pte Ltd is a licensed moneylender (License No. 101/2021) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Licensed Money Lender Personal Loan Jurong

Licensed Money Lender Personal Loan Jurong

From Singapore’s West, Jurong is considered to be one of the most underrated sights. Many people could be missing a lot of fun as this neighbourhood offers a variety of amenities to choose from which includes the J Link, which used to house Asia’s largest drive-in cinema. 

Jurong is also popular for its playgrounds for all ages, the Bukit Batok Nature Park with its quarry pool and the well-known NTU. Some may also consider ending their day trip by enjoying the behind-the-scenes experience of the country’s Tiger beer or try ice-skating at the largest rink in town! 

On the other hand, if you’re enjoying your stay in Jurong, here’s how to find money lenders in the area if you run out of money!

How to identify a licensed moneylender? 

  1. Singapore law mandates licensed moneylenders to elaborate and discuss the terms of their loan in a language clients can easily understand;
  2. If a lender hands you a contract and refuses to explain the terms in the language that cannot follow, you may be dealing with a loan shark;
  3. Licensed moneylenders also always have you sign a contract. It must be a printed copy and include information on the interest rate, late payment fees, the repayment period, and all the necessary details;
  4. As legal moneylenders must follow the rule under the Ministry of Law, they are required to observe Singapore’s guidelines on interest rates. A moneylender must never charge higher than the advised 4% interest rate and must also only charge three types of fees aside from the interest, late payment fees, up-front service fees, and legal fees from a court challenge; moreover
  5. Loan sharks may not have a physical office, unlike licensed ones. To easily verify whether your potential lender is listed on the Ministry of Law website, click here.

What to consider when taking a loan?

When choosing a loan, you have to understand a few things first. Note that these deals vary and you have to do your research to achieve a hassle-free and less time-consuming application.

  • There are different kinds of loan options available (from personal, business, equity, and auto loans.) You must be aware of its differences as well as the similarities so you can easily determine which one fits and suits your financial demands. Knowing which is more applicable to you can help you lessen the load on applications.
  • Loan amount depends on your income. Know that the money lenders assess the borrowers’ ability to repay the loan by checking your proof of income. Your monthly income and credit report play a big role in determining your loan amount. 
  • Be mindful of the interest rates and other processing fees. Knowing the duration of your loan or the repayment period, as well as the down payment amount is also vital. 

How can GM Creditz help you? Why us?

GM Creditz is one of the best Jurong money lenders. With a greatly experienced team, we assure to provide a wide variety of solutions for every borrower that needs cash conveniently with the lightest and easiest repayments possible. If you’re interested in availing loans, request a quote by contacting us today!

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