When getting a loan, you want to get the cheapest finance you can. A money lender Singapore interest rate can vary wildly and it is important to research which will offer you the best value. Credit Hub Capital is one of the leading money lenders in Singapore and can offer authorised financing at a low cost.
Before you look to borrow you need to realise that there are regulations for a money lender. Singapore interest rate rules say that the interest rate should be capped for both secured and unsecured loans. It has been capped at 4% per month. This does not include the fees that a money lender in Singapore can charge. You can be charged $60 each month for late repayment; a fee of 10% of the complete loan, and any legal costs for setting up the loan.
This means that although a money lender Singapore interest rate is capped and regulated, there is still a lot of room for differences in charges you can face. CreditHub Capital was established in 2010 and has risen to be one of the most trusted money lenders in Singapore. It is the size of the company that allows it to give the most competitive rates for the customers.
When seeking the lowest interest rate there are things you should look for, all which Credit Hub Capital has a proven record of supplying. You need to make sure you can get a customisable loan package. You need an account expert who can design the best package for you – in this way you can be sure you are getting the cheapest interest rate. You need to make sure the lender is authorised and licensed and then they will be held under these capping rules, which will make them compliant with the Registry of Moneylenders. Finally, you need the experience of a company with a proven record of loan provision and reconciliation.
You need to know your money lender. Singapore interest rate should not be prohibitive and should mean that all levels of the population can get the finance you need.