Alwin Goh
Bishan, also known as Bishan New Town or Bishan Town is among the mature residential towns in Singapore. It is an urban planning area that is situated in the central region of Singapore and encompasses a total area of 743 hectares.
Due to its size and the fact that it is one of the more mature residential towns, Bishan is considered to be a highly residential estate. There are a number of popular attractions located there, such as Bishan-Ang Mo Kio Park and the brand-new Bidadari Park.
Furthermore, the Catholic High School and Raffles Institution, which are considered to be two of the most prestigious educational institutions in Singapore, are both conveniently located here.
In addition to that, you will have the opportunity to enjoy the ease of shopping in Bishan, as the city is home to six different retail centres. These centres include Junction 8, Bishan North Shopping Mall, Thomson Plaza, Thomson V One, Sin Ming Plaza, and Thomson Imperial Court.
Furthermore, Bishan provides an exciting food scene, as F&B offerings are abundant.
With its popular attractions and wide amenities, there’s no doubt that Bishan is the home for high-priced properties.
Residing in this locality can come with a significant cost, and if you find yourself facing financial constraints, seeking assistance might be necessary. Taking a personal loan from a Bishan money lender can be immensely helpful in addressing sudden financial needs.
Why Apply For A Personal Loan from Bishan Money Lender?
Applying for a personal loan from a licensed money lender in Bishan offers several advantages over traditional banking institutions. These benefits make it easier for a wide range of people with varying financial demands and conditions.
Fewer Requirements
Licensed money lenders typically have more relaxed eligibility criteria compared to banks. This means that individuals with lower incomes or less stable employment can still qualify for a loan. With fewer requirements, the application process is more inclusive, enabling a wider range of people to access financial assistance when needed.
Here’s a quick guide to check if you are eligible for a personal loan.
No High Credit Score Requirement
Unlike banks, licensed moneylenders don’t heavily rely on high credit scores for loan approval. This is beneficial for individuals with low credit scores, providing them with the opportunity to secure a loan.
Easy Application Process
Reputable money lenders nowadays offer online loan application platforms, allowing borrowers to apply for loans conveniently from their homes. Online applications streamline submission and approval, making them faster and more accessible.
Collateral-Free Loans
Unsecured short-term loans from legal lenders do not require collateral, such as a house or car. This minimises the risk for borrowers, as their assets remain unaffected even if they face difficulties in repayment. This collateral-free nature makes these loans more accessible to individuals seeking financial assistance.
Quick Loan Approval and Disbursements
Fast approval and disbursement are among the key features of a legal lender. Loans are often approved within few minutes, solving financial crises quickly. Due to fewer requirements and credit checks, borrowers can get funds faster than with banks.
Flexible Use
Loans from licensed moneylenders are flexible. Borrowers can use the funds for debt consolidation, medical expenses, or big-ticket purchases. Therefore, borrowers are able to personalise the loan to meet their specific requirements without being restricted in the ways in which they can use the money.
Best for Short-Term or Urgent Needs
Loans from legal lenders are particularly suitable for short-term or urgent financial needs. With higher approval rates and faster disbursements, they are an ideal option for urgent financial needs. However, for larger amounts that come with a longer repayment period, traditional banks might be more appropriate due to lower interest rates and extended payment terms.
How To Apply For A Personal Loan From A Legal Lender?
When unexpected financial needs arise, securing a loan from a legal lender can provide a quick and viable solution. Here’s a quick step-by-step guide to help you navigate the application process efficiently:
Step 1: Determine the amount you need.
Before you begin your application process, assess your financial needs and determine the exact amount you need to borrow. Understanding your requirements helps the legal lender recommend the most suitable loan product for your specific situation.
Step 2: Check the requirements.
Legal lenders typically have simple requirements for loan applications. For Singaporeans and Permanent Residents, common requirements include your NRIC or ID card, proof of residence, proof of employment, and SingPass.
Foreigners may need to provide additional documents such as a passport, proof of income, and relevant permits like a work permit, S-Pass, or employment pass. Ensure you have all the necessary documentation ready before proceeding.
Step 3: Submit your loan application.
Once you have gathered all the required documents, proceed to submit your loan application. Most lenders offer an online loan application form, making the process convenient and accessible.
Fill in the necessary details accurately, providing the lender with the information needed to assess your eligibility and determine the loan terms.
Step 4: Read the terms and conditions carefully.
Upon approval of your application, you will be invited to the lender’s office to discuss your loan in detail. Take this opportunity to carefully review the terms and conditions outlined in the loan contract. Pay close attention to the interest rates, repayment schedule, and any additional fees involved. If everything aligns with your expectations and financial capabilities, proceed to sign the contract.
It is crucial to understand all aspects of the loan agreement before committing. If you have any questions or concerns, don’t hesitate to seek clarification from the lender. Once you are satisfied with the terms, sign the contract, and in many cases, you can receive the loan amount in just a matter of minutes.
By following these simple steps, you can navigate the loan application process with confidence and ensure a smooth experience with a legal lender. Remember to borrow responsibly and only what you need to meet your financial obligations comfortably.
The Bottom Line
In times of urgent financial need due to the high cost of living in Bishan, taking out a loan from a legal lender can be of great help since it is highly flexible to use. You may use it for a wide array of financial needs.
Moreover, legal lenders are known for fast approval and disbursement, making them ideal for quick financial needs. Whether it’s for medical expenses, sudden car repairs, monthly bills, or any other expenses, you can surely have an extra hand to help with money lenders in Bishan.
Therefore, if you need urgent cash in Bishan, you can count on Crawfort. It only takes 8 minutes to approve your loan application, making it highly accessible for your financial emergencies.
