What are the main advantages to getting a loan through our online application?
The advantages of looking for and getting a loan in Singapore online are primarily the ease with which one reduce the travelling time and also the speed with which one can become qualified and approved online before signing on the agreement at our office.
What should I look out for when looking for a loan online?
Some licensed moneylender in Singapore and loan companies specialize in the sub-prime and poor credit loan market, which means that they take on higher risk loans, but also that they charge more for them. When dealing with a sub-prime moneylender, look out for super-high rates, hidden fees, and excessive points. If you have poor credit however, you may not be able to get the best rates on your loan.
Can I get a loan online if I don’t have any collateral?
You can still obtain a loan in most cases even if you don’t have any collateral like a house, property or other valuable item to use to secure the loan. The trade off is that you will pay a higher rate for these types of loans and generally can’t extend the payments out for as many months as you can on a home equity second loan, for example.
What do moneylenders look at in determining my credit worthiness for an online loan?
The main thing that most moneylenders will look at when approving you for a loan is your credit score from credit reporting agencies like Credit Bureau (Singapore), and your employment situation. This is why your credit score is so important, and why you should pay your bills on time, since things like late payments will lower your credit score. You can find out your credit score by contacting Credit Bureau (Singapore) Pte Ltd.