One of the factors that borrowers consider when looking for a quick financial solution is the type of credit to take. There are many options when it comes to quick credit. These include credit cards, payday loans among other cash advances. One place to get quick financial solutions in Singapore is at the money lending firms. These licensed money lender services are quick, flexible and can be tailor made to suit your circumstances.
If you are considering getting a loan facilitated from these lenders, one of the products you will be offered are foreigner loans in Singapore. There are many advantages you can gain when you sign up for this loan facility. It is a great option when you have a pressing need that is too low to qualify for conventional loan products while still too high to be satisfied by short term loan facilities. When compared to various credit types, it is more favorable in terms of interest rates payable and its flexibility.
In the slightest chance that you must take a loan, for example when you’ve hit the withdrawal limit, be sure to compare to find the cheapest options. You can find the lowest personal loan interest rates on CreditMatters.com.sg.
Advantage over Credit Cards
This long term loan facility offers lower interest rates when compared to the credit card. There are some situations which do not favor the use of the credit card and cash is required. You can easily get this cash from the licensed money lender Singapore. The process of applying for a credit card is more detailed than applying for this loan from the moneylender.
Advantage over Cash Advances
There are some situations where cash advances are not sustainable. If you have to get a cash advance against your salary each month to cater for a particular purpose, you are better off taking this loan product. You will be able to meet your need at a go and free your salary to meet other obligations. Salary advances or even payday loans are best suited for a one time need and not for a long time commitment.
If you use these short term facilities for a long term purpose, you may find yourself in a financial bind. You can easily get funds to cover your need and pay it off with a slight portion from your salary over a period of time.
Therefore licensed money lenders will usually offer financial advice that will help you find a solution to your problems. You can present your problem and they will help you choose a loan facility that is best suited for your given need and circumstances.