The title ‘best’ is a very subjective term, as not everyone will agree when something is supposedly the best, but when a majority of the people agree that something is good, that is when something can be deemed with the moniker ‘best’. This also holds true for moneylenders in Singapore, where certain factors will determine how good the moneylender is. As such, we have come up with a worthy candidate of the title ‘best moneylender in Singapore’. Introducing Fast Money, a licensed moneylender that is truly one of the best in their field. In this article, we will look at the factors that determine a good moneylender and how Fast Money fits the bill and places the money where their mouth is, literally.
Having a license immediately means you are halfway there
Having a license is an extremely important factor for a moneylender as the unlicensed moneylenders tend to be the reason why the name ‘moneylender’ tends to have a bad reputation. However, licensed moneylenders are very different from their unlicensed counterparts, and in most cases can even benefit you. As Fast Money is a licensed moneylender, there is no contention here.
Interest rates and fees are important
As with every loan, moneylenders also have their own interest rates and fees, and obviously having a lower interest rate is vital when we look at how good a moneylender is. Fast Money is one of the best in this category, boasting one of the lowest interest rates in Singapore.
A short or instant processing time is ideal
A stark contrast from banks, moneylenders tend to have a short or almost instant processing time, getting you to your much needed cash as soon as possible. Fast Money, true to their namesake, also excels in this category, with their fast cash loans being given to you instantly after you go down to their office.
So what is their borrowing process?
The process for borrowing is simple, with the first step being to come down to the Fast Money office in person to find the best terms and loans for you. Remember to bring the following:
- your NRIC or Passport number
- your phone bill or Singapore power service bill
- 3 months payslip or 15 months CPF statement or Income Tax Statement
- or for self-employed individuals, your past 2 years income tax statements
- your original valid employment pass
- your original passport
- your tenancy agreement for your rental premise, PUB bill or handphone bill
- Appointment letter from your company
- latest 3 months payslip
- bank statement- for proof of your company crediting your salary
These are all relevant documents needed for the approval of your loan.
After determining the best loan for you, all you will need to do is to simply fill in the relevant forms and you can go to claim your loan after that.
There are some eligibility requirements, however, so please do ensure that:
- You are a Singaporean, Permanent Resident or a Foreigner with a valid Singapore Employment Pass
- Be above 21 years old
- Be a full time employed personnel
For more information about Fast Money, go to fastmoney.com.sg or call our friendly hotline at +6562244746 for the Yishun branch and +6562244749 for the Tampines branch.