Money Lender Singapore: Lender and Borrower

Personal loans help in providing fast monetary assistance to people in need. Renovation of you house, meeting marriage expenses, taking care of your health are some emergencies that crop up in life at some time or another. With the money lender Singapore proving easy personal loans, meeting such emergency situations becomes less traumatic. The loan is provided by the lender and the person receiving the loan is the borrower.

money lender singaporeThe Lender

The lender provides the loan after scrutinizing the application form and ensuring that the borrower has the capacity to pay back the loan. Money Lender Singapore provides a transparent contract that is signed by the borrower. Only after it is signed will the sender provide the loan. The rate of interest, the duration of the loan and other conditions are provided on the contract by the borrower. Money Lender Singapore charges an interest for the amount lent as loan.

The Borrower

The borrower gets the loan from the Money Lender Singapore. He has to be at least 18 years to get the loan. He applies for the loan and then gets the loan sanctioned. He should sign on the contract after reading the terms and conditions prescribed in the contract. He is held responsible for all his actions as agreed upon in the contract. He should pay the interest as per the agreement. The loan and the interest should always be paid on time. The loan amount is the amount that the borrower needs according to his requirement. The duration for returning the loan amount should be in accordance to the financial capacity of the borrower. The borrower should provide collateral or his pay slip to show his financial ability to pay for the loan. The borrower should borrow money only as a last resort as he has to pay interest for the loan taken from the lender.

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