Hougang is a residential area. It comprises Housing Development Board (HDB) flats and it has approximately 47,000 units of flats. Hougang is also known for a number of shopping centres found therein.
Living in Hougang is expectedly expensive considering the number of attractions it has.
Wander around its shopping centres without worrying about shortage of funds because Fortune Credit is prepared to back you up from Mondays to Sundays.
For ten years now, Fortune Credit has shown its commitment in providing custom made and loan options to deserving customers.
Years of operation has made it an expert in the money-lending industry that will help get every client in the advantage.
How to Identify a Licensed Moneylender?
There is an official list of licensed moneylenders in Singapore provided by the Ministry of Law. Being on that list signifies the authenticity of the moneylender you are in contact with. Hence, the first thing you should do is to check that list on the Registry of Moneylenders’ website.
Moreover, legal moneylenders are prohibited to solicit for loans through phone calls, text messages, email or social media platforms. They are required to meet borrowers in person at their official place of business before any loan contract can be finalized.
Any violation of these rules is a good indication that the moneylender either operates illegally or is actually a loan shark.
What to Consider When Taking a Loan?
When taking a loan, consider the interest rate charged.
The Ministry of Law only allows moneylenders to charge up to 4% interest rate per month without regard to borrower’s income or the type of loan applied for, whether secured or unsecured one.
Late interest rate, in case of default, is also up to 4% per month. Such charge is only against the amount that is repaid late and does not include those amounts that have already been paid or that have yet to be paid.
Keep in mind that these charges are the cap set by the law. Hence, any rate exceeding these is a violation of the law.
How Can Fortune Credit Help You?
Fortune Credit takes pride at being among the top 10 legal moneylenders in Singapore. It has maintained positive feedback from borrowers it has helped through the years.
Its evaluation takes into consideration other matters like your present source of income that it thinks to be equally valuable in deciding whether to let you borrow or not.
Doing so will not only prevent itself from possibilities of defaulting borrowers but also to help borrowers avoid any further financial complications in the future. Another reason for patronizing Fortune Credit is that it abides with the law. No hidden charges will be imposed upon you.
Apply for a loan now at the comforts of your home. Call Fortune Credit at 6777 1887 or download, fill out and submit the online application form.