Bishan is a residential town located in the northernmost part of Singapore’s Central Region. The area that is now known as the Bishan New Town used to be a Chinese cemetery called Kwong Wai Siew Peck San Theng until the early 1970’s.
Though Bishan’s history seems spooky, it is also popular for its natural and urban parks, like the Windsor Nature Park, MacRitchie Reservoir Park, and Bishan-Ang Mo Kio Park.
If you ever need to apply for a loan near Bishan, this post provides a simple step-by-step guide that will get you approved as soon as possible.
How to choose the best moneylender near me?
- Loans offered: Different financial issues require different solutions, which is why moneylenders offer various types of loans. Carefully review the loans that are offered by a particular moneylender to see if they have a product that works for you.
- Application process: Most borrowers tend to need the money right away. Hence, it’s important to look for a moneylender that has a convenient application process and can release the cash immediately.
- Fees & interest rates: Moneylenders in Singapore have a cap on service fees and interest rates, as duly authorized by the Ministry of Law.
- Credibility & Reputation: What do customers say about a particular moneylender? Oftentimes, reviews provide a good picture of what a moneylender is like.
- Business license: To ensure that you’ll only be working with a legally operating business, always check the Ministry of Law’s list of licensed moneylenders. This list is updated regularly to help borrowers filter their options.
- Years in business: Although new businesses can compete with established ones, moneylenders that have been in the industry for years already have significant experience under their belt. This makes them efficient in dealing with different types of clients.
How to apply for the loan?
Step 1: Determine the amount
First, know how much you need to borrow. This will help the moneylender determine which of their products is the best fit for your situation.
Step 2: Check the requirements
Most loan types have more or less the same requirements for Singaporeans and permanent residents. These are; NRIC or ID card, proof of residence, proof of employment, and SingPass.
These are the same requirements for foreigners, with the addition of passport, proof of income, and work permit / S-Pass / employment pass.
Step 3: Submit application
Submit your application through the website or through phone.
Step 4: Read the terms & conditions
Upon your application’s approval, you’ll be invited to the office to discuss the loan plan further. Carefully go through the contract’s terms and conditions. If everything looks good, you can sign the contract and get your money in minutes.
How can A1 Credit help you?
A1 Credit offers various loan types with very competitive rates. All of our services adhere to the Moneylenders Act, which ensures that our clients get the most fitting loan plans for their needs.