Monday, May 27, 2013
Browse »
home»
a
»
before
»
get
»
know
»
loan
»
personal
»
should
»
what
»
you
»
What You Should Know Before You Get A Personal Loan
About the Author:
What You Should Know Before You Get A Personal Loan
By Chantel Ru
For a personal loan, Singapore residents will need to ensure that they are doing all they can to keep themselves protected. This means taking the time to do their research and fully understand the companies that are going to be doing business with.
This commences with the advertising that is in place for Moneylenders since November 1, 2011. This would be the fact that lenders are only given using only three main avenues in promoting their services through. Including directories that are readily available, through their own websites and advertisements that will be placed on their exterior or in shop only. Every licensed personal loan specialists will adhere to all these rules and regulations.
Any company which uses SMS messages, e-mails and even leaflets would probably be violating the law and going through business with them might be a bad decision. Law enforcement in Singapore discourages you making contact with these lenders and preferably reporting them to your local police department who will start an investigation to the company.
Furthermore, there are a few important points to be aware of at this time.
Personal loans shouldnt be taken out if you plan on taking out a major loan in the next 4 months. If you plan on buying a house or a car in the future, hold off on the personal loan until much later. If you are at least 6 months away from a major purchase, you should be fine.
As far as possible, go with a specific personal loan. A common personal loan is going to have higher interest than one designed for education, home improvement as well as debt consolidation. If applicable, opt for a personal loan which is better defined to save money.
Find the best loans and check out penalties or fees before accepting to a loan. Dont assume that all loans will be the same. You should shop around to make sure you are getting the best deal possible.
When looking at a personal loan Singapore residents have to understand that this loan isnt actually money coming in, it is money going out. Due to this fact, it is advisable to guarantee that the investment will most likely be worth your while in the long run. If placing the cash apart and picking up something later on is definitely more cost-effective, it could be a better route to go.
There are plenty of things to consider. This is why when it comes to a personal loan Singapore resident should be prepared to educated themselves and understand how they can stay safe, while having all their needs met.
This commences with the advertising that is in place for Moneylenders since November 1, 2011. This would be the fact that lenders are only given using only three main avenues in promoting their services through. Including directories that are readily available, through their own websites and advertisements that will be placed on their exterior or in shop only. Every licensed personal loan specialists will adhere to all these rules and regulations.
Any company which uses SMS messages, e-mails and even leaflets would probably be violating the law and going through business with them might be a bad decision. Law enforcement in Singapore discourages you making contact with these lenders and preferably reporting them to your local police department who will start an investigation to the company.
Furthermore, there are a few important points to be aware of at this time.
Personal loans shouldnt be taken out if you plan on taking out a major loan in the next 4 months. If you plan on buying a house or a car in the future, hold off on the personal loan until much later. If you are at least 6 months away from a major purchase, you should be fine.
As far as possible, go with a specific personal loan. A common personal loan is going to have higher interest than one designed for education, home improvement as well as debt consolidation. If applicable, opt for a personal loan which is better defined to save money.
Find the best loans and check out penalties or fees before accepting to a loan. Dont assume that all loans will be the same. You should shop around to make sure you are getting the best deal possible.
When looking at a personal loan Singapore residents have to understand that this loan isnt actually money coming in, it is money going out. Due to this fact, it is advisable to guarantee that the investment will most likely be worth your while in the long run. If placing the cash apart and picking up something later on is definitely more cost-effective, it could be a better route to go.
There are plenty of things to consider. This is why when it comes to a personal loan Singapore resident should be prepared to educated themselves and understand how they can stay safe, while having all their needs met.
About the Author:
Looking For A Hassle Free Loan in Singapore? Visit http://personal-loan-singapore.net/