Why you should come to SE Investment Pte Ltd, Licensed Moneylender
Licensed Moneylenders in Singapore often face false accusations of using underhand tactics to get money from their borrowers. This is not true as these tactics are only used by unlicensed moneylenders who stoop to unethical tactics to obtain quick cash.
Licensed Moneylenders in Singapore are under strict regulations set by the Ministry of Law. Those who are licensed are required to operate by specific codes and regulations. It is possible to lodge a complaint against a licensed moneylender and lose the licence easily, therefore it is not possible for a licensed moneylender to do anything against regulations as the risk is too high.
Licensed moneylenders use ethical methods to provide borrowers with the cash they need to meet their expenses. They will not harass you for payments nor will they take advantage of you by charging you exorbitant fees.
No harassing methods - Licensed moneylenders in Singapore do not use harassment methods. They are required to adhere to strict policies to ensure that they retain their licenses. These policies they are to follow are well laid out by the Ministry of Law. Reliable moneylenders will instead advise you on a suitable loan package for you and the most feasible repayment scheme. They will work out a repayment plan that you will be able to manage properly.
No advertisements - It is against the law in Singapore for a moneylender to advertise its services. It will otherwise lose its license. It is therefore important to avoid moneylenders that advertise their services through cold calls, emails, print adverts, newspapers or television advertisements.
Charge reasonable interest rates - Moneylenders make their income from the fees they charge for their services as well as the interest rates they charge on loans. Interest rates charged by licensed moneylenders are under the regulation of the Ministry of Law. Limits on the interest rates chargeable by licensed moneylenders are therefore set by the Singapore government. You can identify an unlicensed moneylender by studying its interest rates. Their interest rates will be extremely high and fall outside the limits.
Proper office for discussion - Licensed moneylenders will not request your personal details i.e. SingPass Login details over the phone. They will request you to come to the office for all verifications. A company asking for your details online can use the information to its own advantage, which is most probably an unlicensed one.
If you want to be absolutely sure that you are dealing with licensed moneylenders, check the list of moneylenders provided by the Ministry of Law. This list will provide you with names of moneylenders licensed to practice within Singapore.