You have to go to the official website of Singapore’s Ministry of Law. Look for the List of the Licensed Moneylenders in Singapore and download the PDF file and from there, you can have all the names that you need for the approval.
Money lending in Singapore is pretty easy and is fast but in today’s world, almost everything has a scam version of it, trying to lure you into their deceit and somehow rob you off your valuable things like money, identity information and stuff.
And so, there are these scams in Money lending. Lending money is the best and the quickest way if you need to raise cash in a very short amount of time you can check Raffles Credit for more details.
Also, you have to keep an eye out that you don’t fall for the scammers. Don’t worry we got your back and we’re here to tell you how to suspect if a Moneylender in Singapore is a scam or if they aren’t.
There are some signs that you have to look for that may be a sign for a scammer and they are-
If the so-called Moneylender who has been sending you. They’d contact you via SMS, WhatsApp, Emails or Flyers or through any other medium. They won’t be polite while talking to you and might be rude or if possible, they might use abusive language.
They might ask you for the Sing Pass user ID or the password or both. They also provide you the loan without discussing and explaining the terms and conditions and also without giving you a copy of the note of the contract.
These are some of the acts that if you encounter, it might be possible that the subject can be a fraud Moneylender. However, there is an easy method of verifying money lenders and that is that you need to verify the legal status of the Moneylenders.
These are some of the acts that if you encounter, it might be possible that the subject can be a fraud Moneylender. However, there is an easy method of verifying money lenders and that is that you need to verify the legal status of the Moneylenders.
The Licensed Moneylenders are registered with the Ministry of Law in Singapore and the subjects name appears on the Approved Money lenders list on the website of the Ministry of Law’s website.
Here’s how you can have access to the file that has all the names of the approved money lenders. Emails isn’t on the list then they are the scam and you should stay from them, if they have it on their list then you are good to go and negotiate the terms and conditions.
All in all, all of the above were some of the things that you should have in mind while thinking about raising some quick cash for any reason and thinking about going to a Moneylender in Singapore because there are lots of sharks in the market and you just have to be careful that you don’t get bit by one.
Here’s how you can have access to the file that has all the names of the approved money lenders. Emails isn’t on the list then they are the scam and you should stay from them, if they have it on their list then you are good to go and negotiate the terms and conditions.
All in all, all of the above were some of the things that you should have in mind while thinking about raising some quick cash for any reason and thinking about going to a Moneylender in Singapore because there are lots of sharks in the market and you just have to be careful that you don’t get bit by one.
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