Singapore Licensed Moneylender Interest Rates: What Borrowers Must Know
Licensed moneylenders in Singapore cannot charge any interest rate they like. Their
Licensed moneylenders in Singapore cannot charge any interest rate they like. Their
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Excerpt: Are you thinking of getting a personal loan for the first time? If so, you’re probably feeling unsure of what do to and where to go. That said, don’t get too nervous. Banks and money lenders in Singapore welcome first-timers like you.
Many Singaporeans depend on money lenders if they need cash but if it’s your first time borrowing, you’re probably confused about how much you can get from these loan providers.
Did you know that in Singapore, licensed money lenders cannot charge any interest rate they please? Rules were put in place by the Ministry of Law to protect borrowers from getting overcharged.