Understand the Singapore Private Licensed Moneylenders and their Personal Loan Package.
With the changes in moneylenders act, Private Licensed Moneylenders are popping up like mushroom. Where do they come from, how they operate and how much interest do they charge and what are the catch?

Saturday, May 15, 2010

No admin fee? Here is the catch.

No admin fee?

Yes there won't be an admin fee if only your loan is not approved.

If your loan is approved, there will be an admin fee charge + loan approved fee which total is 5% of your approved loan.

For 1k loan, it will be $50.
As mention in earlier blog, it used to be 2% loan approve fee + $30 admin fee.
it work out to be the same or more.

For 2k loan, it will be $100. This is $30 more as compared to last time you pay $30 for admin and 2% which is $40. Toal was $70.

Hmmmmmm........... Nice marketing gimmick.
Posted by at

9 comments:

  1. mercyJune 7, 2010 at 5:51 PM

    Avoid foreclosure with a loan modification also known as a Loan workout program . Loan modifications can lower mortgage payments and help stop foreclosure by modifying the terms of your mortgage loan.

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  2. Singapore Personal Loan CriticApril 11, 2011 at 10:45 PM

    The approval fee rocket to 15-20% for $1k loan you will expect to lose $150-$200 before adding the interest.

    ReplyDelete
  3. money lendersNovember 22, 2011 at 3:35 AM

    cool blog you have here. Keep this updated

    ReplyDelete
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