Credit & Loan

5 Commandments Of Borrowing Money

Whether you are borrowing your friend’s stilettos for a wedding or your mother’s mixing bowl for a party, we live in a culture that embraces the culture of borrowing. There are certain rules involving this act such as dry-cleaning the suit that you borrowed. But, do you know the rules involving money? Here are just some commandments to get you started! #1: THOU SHALL NOT BORROW BEYOND YOUR MEANS Your hard-earned income must not revolve around debt repayments. Exhaust your

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Credit & Loan

Should You Borrow Money From The Bank Or Licensed Money Lenders?

Believe it or not, the bank often lends its money to people who are stable enough that they would not need to borrow the money anymore. This is why some Singaporeans turn to alternative ways of acquiring money including Licensed Money Lenders. Now, before you borrow money from any of these options, you must know their differences first. BANKS Loaning money from the bank guarantees that there would be future repayment of the principal amount and its interest. A loan

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Credit & Loan

Personal Loan 101: Golden Information You Should Know

Like a kid in a candy store, consumers have various loans to choose from. From education loan to home loan, we shall look at personal loan through a microscope. Personal loans are used for family emergencies, home furnishings, or consolidating other debts. These loans are often short-term. 1. APPLICATION PROCESS You will be asked to complete a loan application that may include: your name, NRIC, date of birth, address, current and previous employers, length of employment, occupation, sources of income,

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