There have always been 2 different trains of thought on the topic of monthly installment loans. On one end of the spectrum, there are people against taking any kind of loans as they all come with inherent risks. However, the other extreme end has people taking more loans than they can handle, and inevitably collapsing due to the crushing debt they incur.
So the question comes. Are taking loans good for you? Or should you avoid loans altogether? Today, we will be tackling this question, specifically, whether monthly installment loans are a good thing.
To answer this question, we first need to know, what monthly installment loans are.
The monthly repayment
Monthly repayment loans are loans that can be repaid in installments every month. These loans will usually come with a fixed rate of interest so that the money lender can earn from the loan. These loans are usually undertaken when the borrower needs a way to pay for things ranging from home improvements to vacations.
Sometimes, people take a loan even if they have enough capital to pay for a certain expense, simply because the loan makes their daily living a little less tight. As such, there are various reasons as to why people take a monthly repayment loan.
Should you take a monthly repayment loan?
The answer is simple. Balance is the key. When deciding whether you need a loan, ask yourself a few questions. As taking a loan is not a way to overextend yourself, but rather to make life easier for you, never borrow more than you can afford. In fact, there are even times when taking a loan is better for you, as mentioned earlier, if not taking the loan takes out way too much of your money, leaving you unable to support your daily living.
Where should you apply for a monthly repayment loan?
Of course, another important factor before taking a loan is to make sure that you are taking the loan from a safe and legitimate source. Avoid illegal moneylender, and before taking a loan, always make sure you know what you are getting into. Remember to look at the interest rates and the repayment schedule before signing up on a loan.
To make things easier for you, we would like to recommend Fast Money. Fast Money is a reliable Singapore based licensed moneylender that is one of the best in the country. What Fast Money offers are packages that allow you to borrow without a collateral or a guarantor, and also offers the most optimal interest rates.
The packages they offer are monthly and fixed, which means that you do not have to worry about surprise changes to the loan agreement, and it makes it easy to repay every month. With such service in hand, it certainly makes taking up a monthly installment loan safe and easy.
How do I apply for a monthly installment loan with Fast Money?
To apply for a monthly installment loan for Fast Money is extremely simple. To be eligible, all you need is to be either a Singaporean, a Permanent Resident, or a Foreigner with a valid Singapore Employment Pass, be at least 21 years old, and be a full time employed personnel.
If you are eligible, you can head on over to https://fastmoney.com.sg/monthly-loan/ and apply for a monthly installment loan.