Are you looking for a money lender in Singapore? If you are located in Singapore there are various moneylenders you can get easy loans. Tradition Credit is the place to go to when you need financial assistance.

You could borrow money either in person or you could do it online. One may require a quick loan to be able to sort pending expenses urgently. Some of these expenses include medical bills, rent, school fees, business rent, and funeral expenses.

Note that there are loan sharks around who are there to scam you and later harm you. Therefore, you should research well before borrowing money from any moneylender. There is a lot you need to consider before taking a loan.

How to borrow the loan online

You might be caught up at work and not have the time to go physically. You have the alternative of applying online to acquire the loan. The 3 simple steps include:

  1. Acquiring all the required documents

While applying online, you should ensure that you have scanned all the required documents. Some of these documents include:

  • A work ID
  • National ID
  • Printed copies of our last 3 months’ payslips
  • Income tax statements
  • CPF statements
  • Your home address and latest bills that are paid as proof
  1. Filling the forms and submitting

In this step, you have to answer all the questions asked and then submit your answers and scanned documents. The moneylenders will verify your eligibility and creditworthiness. This is what will determine the maximum amount of money you can be lent.

  • Acquiring the borrowed loan

After verification and approval by the moneylender, you can get your loan within the same day of application or maximum after three days. The main advantage of applying online is that it saves time.

Choosing a moneylender in Singapore

There are various factors that you as the client should consider before borrowing money from anyone.

       i.          Interest rates

The interest rates matter since they determine the cost of borrowing the loan acquired. You should go for the lender whose loans have lower interest rates. Some firms offer favorable deals when it comes to the interest rate.

     ii.          The lenders’ reputation

While doing your research, you should check out people’s reviews on the respective lenders. This is to enlighten you on the kind of people you might deal with. When most reviews are negative, avoid that lender by all means. You should go for the lender who has more positive reviews and a good reputation.

    iii.          The terms and conditions

Different lenders have unique regulations when it comes to their money lending business. You should opt for a lender who has favorable terms. You should check out how they operate and what happens when one does not repay the monthly fee on time.

There are various questions you should ask yourself while looking for a good moneylender. For example how flexible the rules are, the penalties for late payment, the policies, the required documents for application, the period before approval of loan request among many others.

    iv.          Customer support

A good money lending firm has good customer service and people who will advise you well on the kind of loan you need. Note that loan sharks can also pretend to have good customer service only to trick you. Loan sharks give you very great deals that you can never find with legit moneylenders. It is up to you to be able to differentiate the two.

     v.          Realistic deals

When checking out some of these load deals, some seem realistic, and those that don’t. Be careful for those that seem too good since they may be from loan sharks targeting those who like easy deals.

Most loan sharks do not ask for most of the documents that are necessary for a loan application. Loan sharks may also trick you by saying that there are no interest rates on the loans offered.

Before signing any deal, please ensure that you have understood how the payment works and the penalties. You should also be aware of how your interest rate is calculated to avoid misunderstandings

    vi.          The type of loan

The major types of loans offered are personal loans, short-term loans, unsecured loans, cash advance loans, business loans, entrepreneur loans, SME loans, loans for expatriates, and Coe Renewal Car loans. Some money lenders specialize in personal loans and offer great deals which you can go for. You could also search for good money lenders who give quick cash loans.

  vii.          Business registration

While looking for a legit moneylender, confirm whether they are registered to be on the safer side. These days, loan sharks have a way of imitating registered money lending firms which makes it tricky to identify a loan shark.

It is important to know that when you are scammed or note that the people you are dealing with are scammers, contact a local law enforcement station soon.


When choosing a moneylender, it is up to you to weigh in what you want and what you can get from a variety of money lenders. When looking for a loan, be aware that the lower your credit score is, the higher the interest rate you will get.

Ensure that you have the quality of creditworthiness especially when you are about to take a business or entrepreneurial loan. Creditworthiness is built by taking loans frequently and paying them back on time.

If you are not sure about how to deal with loans, go to a bank or a financing firm for more advice. Lastly, trust your instincts. When you feel something is off with the moneylender you are dealing with, do not make a deal there.