postheadericon A Detailed Insight About Money Lending Business

Money is an important aspect to keep up with your daily life. It ascertains our lifestyle and standard. We need it to meet our daily needs and also to serve emergencies, investments, make assets and more. One can never ignore the importance of money in his life. There are times when we fall short of money and shall need some help. This is why money lenders lend money to serve our purpose.

Money lending companies

The money lending companies in the business are many. You cannot expect all to be of equal standard and be trustworthy. At the time of crisis you surely do not want more trouble and your primary concern is to get a company which is reliable. In this scenario, we would like to make a few suggestions. The first in mind is JR Credit. This company is well known licensed moneylender Singapore. This cash loaning organization understands the need of its customers. They believe in straightforward transactions and offers payday loans, foreign loans, personal loans etc. They provide low interest and keep the process comfortable and easy for the client as well.

Our second suggestion would be IP Credit, a reputable moneylender Singapore. Out of the thousands of money lending companies this is in our suggestions as this house is committed to run with credulity. They have quick processing and variety of packages from which you can choose the one most suitable for you. Their web page is easily accessible and runs on simple searches. Their staff is friendly and polite and shall answer all your queries with patience. They provide legitimate cash with immediate approvals after loan requests.

The interest details

For loans that are contracted between 1st June 2012 and 30th September 2015 the interest rate is decided according to the annual income of the borrower for both secured and unsecured loans. If the borrower’s income is less than $30000 the rate is capped at 13% for secured loans and 20% on unsecured loans. When the income is more than that then the interest rate is one that is decided and contracted between the lender and the borrower. After the new rule put on effect from 1st October 2015, the maximum rate of interest is 4% regardless of the borrower’s income or secured unsecured loans. You can read more about moneylender interest online at any website.

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