Types of loans offered by the licensed money lenders


The need for emergency money can arrive at any time of life. It can be for your child’s education or some other personal work. You may even need money to start a new business. The first task is to find the best money lender in Jurong East.

Every type of loan has its terms and conditions, a payment plan, and interest. All these things are designed according to the user choosing them. It is essential to understand different loan types and when to take which loan.

Business loan

Business loans are others who need more font to start the business. The business loan can also be taken by people whose business is going through hard times. The loan amount in this type of loan can be enormous, but the interest rate is high. It also has one park, which is a more extended repair man period. It will allow the business to be well-established for a more extended period.

Foreigner loan

Singapore is filled with many known residential citizens studying, working and living there. The licensed money lenders in Singapore provide foreign loan which is accessible to a foreigner as well as permanent residents of Singapore.

Personal loan

A personal loan is for borrowers who can use it for any requirement. The standard type of loan in Singapore is the personal loan. It can be used for various purposes, from financing a vacation, wedding, funeral cost,j or any personal event. Personal loans have little high interest than other types of loans.

Payday loan

Singapore real use payday loans when their monthly salary is delayed or bounced. This amount can be borrowed for one month so that it can be paid after the salary is credited in the next month. Payday loans save people from going broke at the end of the month.

Student loan

A student loan is offered for residential and non-residential students who wish to study but need more money. Students can borrow money to cover their fees and get subsidies in interest during their student period. They can repair the entire loan after graduation.


Before taking any loan mature, do an initial assessment of the money lender. Make sure everything is secure and according to your need so that you are not obligated to pay before your need is completed. Understanding the perks and cons of every loan will make it easy.