There are many moneylenders out there, and you can get confused about the best to consult. However, there are some found in Bedok that are reliable, efficient, and transparent. If you have a gut feeling about a certain money lending company, you better think twice about it. However, if you feel comfortable with the moneylender, you can go on with them.

Bedok is one of the best residential areas in the eastern regions of Singapore. You will enjoy the beautiful scenery found there and even want to stay there. If you have been a resident in Bedok for a long, you know the benefits of living in the area.

Due to the great resources found there, you may get some financial needs that you need to cater for. Therefore, there are some considerations you can make to choosing the best-licensed moneylender Bedok like Tradition Credit.

How To Choose A Licensed Moneylender In Bedok

While choosing, you need to consider the application process, is it slow or fast~? This is based on the dire needs that you have at the moment.

1.    Application Process

People prefer when the application process is easy. If you opt for a Tradition credit company, you are assured that the process is fast. All you need to do is to click on the “Apply Now” button. You will be redirected to another page that requires you to fill in some details.

On the loan inquiry form, you will just need to submit your full details to get a quote. The customer service officers will then get back to you within a business day and the processing can commence.

However, this is based on the loan amount that you want. A licensed moneylender will make the application process quick and convenient. It is as simple as applying online, getting contacted, discussing the application, and bringing along the supporting documentation, eligibility verification, and amount confirmation.

Your documents will be signed, and you will get the funds within the same day of applying. You won’t strain too much.

2.    Check The Interest Rate

If you want a loan from a licensed moneylender, you need to check their interest rate. According to the Ministry of Law, moneylenders can only charge up to a 4% interest rate per month.

Tradition credit Co follows all the Ministry of Law guidelines to ensure that all your needs are catered for. The interest rates are shown upfront to ensure your needs are met on time.

3.    Check The Operation Years.

One amazing thing about Tradition Credit Co is that they have been in existence for a long. It is a licensed moneylender in Singapore under license number 136/2021. It has been in existence since 1994 while working hard at keeping the cost of borrowing and fees low.

Therefore, you won’t have to worry about encountering any issues when borrowing from the company. Since they have been in existence for a long, they don’t offer any hidden fees or penalties for late repayment.

4.    Check Their Approval Rates

While in Bedok, you need to find a company that offers high approval rates.  This is because you might need the cash fast and if the company is slow in approving your loan request, you won’t be able to settle your emergency on time. Therefore, it is important to check their approval rates first.

5.    Different Loan Types

A licensed moneylender in Bedok should also offer the right amount of loan type for different needs. You will get a loan that fits your lifestyle and budget. This is also with flexible repayment schemes to ensure you can pay at your convenience.

Tradition Credit Co offers different types of loans that include: personal loans, loans for expatriates, short-term loans, unsecured loans, cash advances, business loans, entrepreneur loans, SME loans,  and COE renewal car loans.  All the loan types are tailored to your needs to ensure that you get a loan suitable for your needs.

6.    Industrial Experience

When looking for a reliable moneylender, you also need to check their industrial experience. While on this, you can also check testimonials and reviews on their website. What are people saying about them? Also, if they have a social media presence, try to check whether they have any controversy or issues that their customers complained about.

This will help you choose the most ideal licensed moneylender in Bedok. Through this, you will also be able to gauge how well you can work with them. The customer reviews can help you make a sober decision.

Why Will You Need To Get A Loan From A Licensed Moneylender In Bedok?

At times, you may not see the necessity of getting a loan from a licensed moneylender in Bedok. However, you may find yourself in a fix that requires you to get some instant money. Some of the reasons that can make you take up a loan may include:

1.    Renovation Expenses

You may need some quick money for renovation. Therefore, you can opt for any of the loan types that suit your preferences. When you are using your savings to renovate your home, it can strain your income.

However, if you chose to take up a loan, it becomes easier to cater to the specific costs without any issues. Using your income to cater for extra things may not be a wise decision.

2.    Debt Consolidations

At times, you may have too many debts and are not sure of how to pay them off. Therefore, you can consider taking up a loan to pay them off. After that, you can then know that you only have one big loan to pay up.

That’s much easier than having to pay up small loans. It’s better to pay just one large loan at once. This is one of the benefits of debt consolidations.

3.    Emergency

At times an emergency can emerge out of nowhere, and you might need quick money to pay for it. Therefore, you can consider getting a loan from a reputable moneylender in Bedok to ensure that you don’t strain too much.

These emergencies can include school fees, medical bills, immediate traveling, moving to a new place, and much more. Therefore, if you have a moneylender in mind, it will be easier to know where to get cash.

4.    Capital For Business

At times, you may need a loan for capital for your business. This can either be when you are starting a new business or you need some capital to cater to some operational costs. That’s why it is important to have a moneylender in mind that you can rely on.

If you want to start a good business, you need to make a good investment to buy the stock needed or the products you will be selling. You will also need to invest in website design and other needs. Therefore, it is important to have enough money.

Conclusion

Needs come when we least expect them. Disasters, accidents, or incidents can happen at any time, and you can be confused about how to go ahead.

Therefore, it is important to have a moneylender in mind that you can rely on. Even when you take up loans from them and pay them back, you form a good relationship with them which will help you when you are in need.