Transparency in processes is another major benefit. All terms and conditions are clearly outlined in the loan agreements, preventing hidden fees or charges. This transparency allows borrowers to understand their obligations fully before committing to a loan. Furthermore, licensed money lenders offer various loan products to cater to different needs. Whether you need a personal loan, business loan, or a short-term payday loan, these lenders provide various options to meet your financial requirements.
The town's road system utilize a hierarchy of road sizes by design: the major roads are referred to as "Avenues", and the local-access roads referred to as "Streets". Ang Mo Kio Avenue 12 is an exception as it is a small road in an industrial estate in Ang Mo Kio. The town's avenues are arranged in a grid-like pattern, with the streets filtering traffic from the avenues to the individual blocks. The town itself is served by the Central Expressway, providing a rapid link from the town to the rest of the island via the expressway network.
In the town's road numbering system, avenues running from east to west are assigned odd numbers, with numbers increasing from south to north, while north–south avenues are assigned even numbers, increasing from west to east. Street numbers consist of two digits, with the first digit corresponding to the neighbourhood it belongs to and the second running in numerical sequence.[47]
Getting a loan from a licensed money lender in Ang Mo Kio is a straightforward process. It starts with an initial consultation where the lender evaluates your financial needs. This consultation allows the lender to understand the loan's purpose and your repayment capacity. Next, you will need to provide necessary documents such as identification, proof of income, and any other relevant paperwork. These documents are crucial for the lender to evaluate your application.
Ang Mo Kio, a vibrant residential town in Singapore, provides numerous financial services for its residents. Licensed money lenders play a crucial role among these services, offering quick and accessible loans to individuals and businesses. This article delves into the intricacies of licensed money lenders in Ang Mo Kio, highlighting their benefits, application processes, regulatory frameworks, and more.
Yes, you can negotiate loan terms, including the repayment period and interest rate, with the lender.
Yes, you can repay your loan early. Some lenders may charge an early repayment fee, so check your loan agreement for details.
You will need your NRIC, proof of income (such as payslips or bank statements), proof of residence, and any other documents required by the lender.
You can find licensed money lenders in Ang Mo Kio by checking the Registry of Moneylenders' list on the Ministry of Law's website.