img

How to Overcome Financial Emergencies With a Licensed Moneylender in Singapore

How to Overcome Financial Emergencies With a Licensed Moneylender in Singapore 26/03/2023

Despite your best effort to prepare for unforeseen events, accidents, natural calamities, and other emergencies will happen. Typhoon-induced damages in your house can be too extensive. Or insurance may not cover inevitable accidents or, in the case of car insurance, some vehicle repairs.

Your emergency funds will run out. As bills accumulate, Singaporeans reach out to reputable licensed moneylenders that can help them manage their financial emergencies. This article discusses the different financial solutions that a licensed moneylender in Singapore provides so people can navigate critical moments of their life without risking their financial health to a lifetime of debt.

1. Fast Cash Loan

Oftentimes, individuals who need money go to banks to apply for loans. But in emergency cases, time is of the essence; people who apply for bank loans during emergencies end up waiting days or weeks just to get the application approved. Worse, large financial institutions like banks tend to reject borrowers with poor credit scores.

Without banks, where should people borrow money in times of crisis? A licensed moneylender in Singapore is one of the best choices for safe and helpful financial solutions. Accredited moneylenders are regulated by the Registry of Moneylenders and follow the Registry’s code of ethics.

With certified moneylenders, Singaporeans only need to fill out an application form to apply for a fast cash loan. This loan type allows them to receive cash no later than one week. Furthermore, these moneylenders don’t ask for requirements that take long to collect (e.g., proof of residence) nor reject applications from people with poor credit scores.

2. Interest-Free Loan

Interest-Free Loan

One of the reasons first-time borrowers are apprehensive about borrowing money, even in times of distress, is interest. This anxiety is compounded by the fact that they might not have a good credit score as it’s their first time applying for a loan.

Working with a licensed moneylender in Singapore that offers interest-free loans is a smart move for eligible borrowers. An interest-free loan may last for two weeks. This means that if a person can settle the principal within 14 days, they only need to pay for the amount they borrowed (hence, it’s called “interest-free”).

Some authorised moneylenders even offer refunds for administration fees (apart from no interest) to first-time borrowers who can pay the principal amount within one week.

3. Flexible Repayment Periods

Lastly, registered moneylenders offer people the means to properly schedule repayment periods. Borrowers can pay in fixed instalments, repayments, or overpayments. Some moneylenders even provide up to 60 monthly instalments. The bottom line is that they offer personalised payment structures that fit the person’s circumstances.

Access to fast cash loans, interest-free loans, and flexible repayment periods can help minimise some of the stress people experience during emergencies.

Furthermore, licensed moneylenders have transparent and fair lending practices that can provide peace of mind to borrowers. Ultimately, these financial solutions equip borrowers with time and resources to heal from an accident, recover from a typhoon, or move past a traumatic disaster.

​​Choose Capital Funds Investments as Your Loan Provider

Looking for a licensed and trusted loan provider to help you meet your urgent financial needs? Look no further than Capital Funds Investments! With our simple application process, you can get the funds you need within hours, not days. We’re committed to providing you with the financial assistance you need to get through difficult times.

Contact Capital Funds Investments today to learn more about our loans and how they can help you achieve your financial goals.

Related Blogs

5 Ways Singaporean Families Can Manage Finances in 2024 08/07/2024

5 Ways Singaporean Families Can Manage Finances in 2024

The most recent data from MoneySmart revealed that Singapore's inflation rate has increased by 3.7% from Sep 2023 to Feb...


Continue Reading
4 Ways Your Credit Score Impacts Business Loan Approval in Singapore 29/05/2024

4 Ways Your Credit Score Impacts Business Loan Approval in Singapore

The latest report from the Department of Statistics Singapore revealed that 99% of businesses in the country are small and...


Continue Reading