Best Licensed Moneylender Directory http://legalpersonalloan.com.sg No. 1 Legal Money lender in Singapore Fri, 22 May 2020 02:53:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.2 http://legalpersonalloan.com.sg/wp-content/uploads/2020/05/cropped-icon-32x32.jpg Best Licensed Moneylender Directory http://legalpersonalloan.com.sg 32 32 Financial Market Data information – To a successful trader. http://legalpersonalloan.com.sg/financial-market-data-information-successful-trader/ http://legalpersonalloan.com.sg/financial-market-data-information-successful-trader/#respond Fri, 22 May 2020 02:53:39 +0000 http://legalpersonalloan.com.sg/?p=3990 Most marketers and the business persons understand the value of collecting financial data, but also realize the challenges of leveraging this knowledge to create intelligent, proactive pathways back to the customer. To large financial companies, financial market data is the lifeblood of the business. It is essential because predicting market changes can gain or lose...

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Most marketers and the business persons understand the value of collecting financial data, but also realize the challenges of leveraging this knowledge to create intelligent, proactive pathways back to the customer. To large financial companies, financial market data is the lifeblood of the business. It is essential because predicting market changes can gain or lose massive amounts of money depending on how that market moves. Market analysts must leverage their enormous investment resources against small changes in market interest rates.

As interest rates change daily, the value of these investments grows depending on how the money is managed. The investments can be made through minute changes in bond interest rates, penny drops or rises in stock prices, small changes in the exchange rate between currencies, or even subtle changes in the value of the dollar compared to that of more precious metals like gold and silver. These investments create profit because each change in the market value of the specific currency is multiplied by the enormous size of each individual’s investment. This happens whether that investment is from a pension fund or the savings of a large investor.

Financial Market Data

If the financial market data is not organized correctly, the institutional investor can miss a single change in the market that can make the company millions simply by the volume being invested at the time. Many times, traders have misappropriated these funds or misunderstood merely a financial transaction resulting in a massive financial loss to the company.

Computer triggers designed to facilitate this trading, as well as place automatic holds on any one trade. It has failed in prior years, and cost large institutions vast amounts of capital. Such a loss has had devastating consequences not only on the investment resources. But also cost the jobs of corporate heads and the traders themselves. Worst of all, of course, is that the investment loss was a real loss to the shareholders’ assets which may have had far more significant effects on those investors than on the company employees themselves.

For these reasons, it is critical that the management of data for the purpose of investing shareholder funds be done with the highest care and intent as lives can be at stake. This is why having large data experts work in concert with market financiers who can predict market changes fairly accurately in real time. Current software programs can enable this relationship to work efficiently, but it is never perfect. Human supervision is necessary as has been shown countless times when computer programs or simulations have broken down. The danger of losing such vast sums of money so quickly requires that market analysts maintain constant vigilance over these programs.

When trading the news, there are three questions that we need to ask ourselves before every trade: Is the information important? Is the surprise large enough? And is the surprise in line with the market’s sentiment?

Is the news important?

The first task at hand is to figure out what matters and what does not. The top three pieces of potentially market-moving financial data for any country, which are the employment reports, retail sales, and manufacturing and service sector activity data. In addition to these, the Gross Domestic Product releases and the inflation reports are also tradable. What is not tradable are reports because there is no concrete number for comparison, data is released weekly.

Is the surprise large enough?

The second question is the trickiest of the three because it is subject to interpretation. But the good thing is that the market will usually make the interpretation for you. As a rule of thumb, if the number is greater or less than the forecast by more than 5 percent. It is considered a big surprise, but sometimes a 2 percent surprise is enough to elicit a big reaction in the currency. So what should you do? Just wait and see how the market responds to the release.

If the currency pair barely budge, then most likely, the surprise is not that significant. If the currency pair immediately shoots higher or falls like a rock, there is a good chance that the market was surprised. The key is to wait for five minutes before getting into the trade to make sure that the currency responds the way that it is supposed to. In other words, a positive surprise should drive the currency pair higher, and a negative surprise should drive it lower.

Is the surprise in line with the market’s sentiment?

The third question is important because sometimes the economic data is something that we would generally expect to elicit a big reaction. But for whatever reasons the rally fizzles quickly or traders just don’t care. Quantifying the prevailing sentiment in the market can be difficult, but moving averages can help because they measure the current trend in the market by averaging a certain number of past prices. If the data is good and the currency pair is trading above the 50-period moving average on a five-minute chart (or the information causes the currency to break above the moving average). Then there is a better chance that sentiment and fundamentals will support the trade.

However, if the data is good and the currency pair is trading well below the fifty-period moving average. Then it suggests that the prevailing sentiment does not support the economic surprise. In this case, we will not take the trade because we want to have as many critical variables aligned in our favor as possible.

In conclusion, it is beneficial only to trade economic data that is important, with surprises that are large enough to trigger a reaction in the currency, and just if the financial data is in line with the general sentiment in the market. With these guidelines in hand, let me show you how fast and furious news trading works. Extensive data management is essential to the profit motive of institutional investors, but only when the proper market analysis is complete.


Legal Personal Loan is known to help people find the best licensed money lender available in Singapore. Our team of people has the expertise to help you find the best loan option.  Not sure which money lender is the best choice for you? We are a Singapore trusted personal loan matching platform. Let us help you find one near you today. Contact us today if you are interested!

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Problems Faced by Bank in Singapore (July 2017 Update) http://legalpersonalloan.com.sg/problems-faced-bank-singapore/ http://legalpersonalloan.com.sg/problems-faced-bank-singapore/#respond Fri, 28 Jul 2017 09:05:37 +0000 http://legalpersonalloan.com.sg/?p=3948 None performing loans Nonperforming loans have hit many of the three top banks in Singapore, especially from the oil and gas industry. The industry has been forced to sell oil at much-reduced prices because of a weakening economy hence making them unable to pay back loans due to reduced profits. Fluctuating interest rates An increase...

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Problems Faced by Bank
Problems Faced by Bank

None performing loans

Nonperforming loans have hit many of the three top banks in Singapore, especially from the oil and gas industry. The industry has been forced to sell oil at much-reduced prices because of a weakening economy hence making them unable to pay back loans due to reduced profits.

Fluctuating interest rates

An increase in interest rates affects the bank’s profitability positively. The profitability may arise from things such as investment securities and loans. That, therefore, means that the bank is guaranteed the borrower will pay with interest the amount that he or she owes to the bank. However, in the recent past, there has been a lot of interest rates in Singapore. It has been caused by harsh economic conditions as well as government regulations on the banking sector. Hence this has caused uncertainties thus leading some of the banks to close their Singapore offices.

Technicality of financial roles

One financial area which has been affected by the regulations is the product control. The rules state that for any finance officer who takes this position must not only know how to develop the profit and loss statements but he must be able to understand all the factors that shape a profit and loss statement or even a balance sheet.Also, the candidates ought to have a vast knowledge of international banking regulations. These financial roles are therefore left open because of lack of the desire skills. This has in turn contribute to stall growth of banks.

Shortage of local experts

Most international banks in Singapore want tremendous growth. Because of that they need to hire professionals to take the banks to the next level. However, there has been a shortage of human talent in Singapore. These banks are force to source for human capital overseas which is more expensive due to costs of settling the expert. On the other hand, banks can decide to take locals who are more experience but there lacks local professionals.

Decrease rewards

Banks in Singapore are not attracting many candidates as before because of poor salaries. This has been a major concern over the recent years. Most people are unwilling to join the banking sector because they have fears of being overwork. And yet the pay is minimal. Furthermore, the pay has also been decreasing over the years.

 

Summary

It has been a tough time for most banks in Singapore, but if they can mitigate all these challenges, then they can rise and make the country become one of the major economies in the world.

 

Legal Personal Loan is known to help people find the best licensed money lender available in Singapore. Our team of people have the expertise to help you find the best loan option. Not sure which money lender is the best choice for you? Let us help you find one near you today. Contact us today if you are interested!

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Investment Ideas That Will Help You Out With Your Money (2017 Update) http://legalpersonalloan.com.sg/investment-ideas-will-help-little-money/ http://legalpersonalloan.com.sg/investment-ideas-will-help-little-money/#respond Thu, 22 Jun 2017 08:16:51 +0000 http://legalpersonalloan.com.sg/?p=3944 A common believe is that you can only invest with huge amounts of money. But if you don’t have enough money, is there any chance to join investment business? Well, this article contains the tips to help you start an income generating activity with only $500. But before we get into that, you will have...

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Investment Ideas That Will Help You Out With Your Money
Investment Ideas That Will Help You Out With Your Money

A common believe is that you can only invest with huge amounts of money. But if you don’t have enough money, is there any chance to join investment business?

Well, this article contains the tips to help you start an income generating activity with only $500. But before we get into that, you will have to follow two strategies before investing.

What You Should Do Before Investing

Although small investments don’t necessarily require a lot of money to start, they generally need some financial responsibility and healthiness. Before you even think of investing your little money, ensure your financial status is healthy in the first place.

Here are the two ways of ensuring financial health. First, have an emergency fund. Jumping into an investment without establishing an emergency fund is setting up future problems. As soon as a bad financial issue like medical bills or car repairs arises, you will obviously jeopardize your financial account if you didn’t build an emergency fund.

Moreover, you should pay off all the high interest credit card debts. If your resources are limited, consider settling all of your high interest credit card debts before investing. The sooner you clear your card debts, the less you pay on interests – and the more you save for investments. Without consuming much of your time, here are the investment tips.

Consider DRPs and DRIPs

A dividend reinvestment plan (DRIP or DRP) is a small investment option that helps you make a direct purchase of stocks directly from the company, without using an intermediary or a broker. The program typically enables you to buy company shares, as long as you can afford. The benefits of dividend reinvestment plan include:

The Concept of Dollar-Cost Averaging

If you consistently invest a specific amount on a monthly basis – say $25 – dollar cost averaging gives a substantial return over time. That means your average cost per share represents higher prices when market conditions are favorable, and lower prices when things are not so good.

Dividends Paid By the Company

Dividends paid by the company are invested back in your holding. This is known as dividend reinvestment. Dividends are earnings that the company gives to its shareholders, and essentially allow you to increase your stock.

Invest in individual Stocks

With your little money, you can invest in individual stocks. You can buy individual stocks for as little as $5 per trade, through discount brokerage firms like TD Ameritrade, ETrade, TradeKing, and Scottrade. Loyal3 is also a perfect choice – especially for beginners. It allows investors to buy fractional shares of their choice from over 70 different companies.

Select Mutual Funds

Although most mutual funds require huge amounts of investment money, we still have several of them that can accept your small initial investments of $600 or less. If you do a quick search through the Morning Star, you will discover more than 200 mutual funds that allow you to invest with as little as $500 or even less.

 

Trying to cash in on some investment idea that you may have. Licensed money lenders will be able to help you with that. Taking a short term loan may seem stupid but in the long run, that investment will help you to generate more returns.

Considering this course of action, you can approach us! We are known to be the best licensed money lender in Singapore. We have the expertise to advice you on which loan package is the best for you. Contact us now if you are interested!

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Future of Singapore’s Job Market (2017 Update) http://legalpersonalloan.com.sg/future-singapore-job-market/ http://legalpersonalloan.com.sg/future-singapore-job-market/#respond Tue, 30 May 2017 09:18:00 +0000 http://legalpersonalloan.com.sg/?p=3938   Job layoffs in the banking sector This year some jobs in the banking sector are expected to be lost. Especially since banks are in bad loan. Furthermore, they have to take some bold measures to reduce spending. One of the most preferred ways of cost cutting measures is by laying off employees because they...

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Future of Singapore's Job Market
Future of Singapore’s Job Market

Job layoffs in the banking sector

This year some jobs in the banking sector are expected to be lost. Especially since banks are in bad loan. Furthermore, they have to take some bold measures to reduce spending. One of the most preferred ways of cost cutting measures is by laying off employees because they don’t need massive personnel and they have to cut spending for them to pay off the bad debts.

Increase demand for technology specialists

Many technology relate companies set their base in Singapore. And they need a skilled workforce. Also, due to the high number of technology companies, cyber crime may be on the rise, and therefore, it will be of utmost importance for businesses in Singapore to hire IT professionals to curb that menace.

Hiring of many talent managers

Many professionals, especially in Asia, are going to Singapore because of higher chances of employment due to a large number of multinational companies setting up there. The companies are also recruiting talent now and then and for these businesses to remain productive, they must ensure that their employees remain active and very productive to ensure the success of the firm. Therefore, talent managers must be hired to manage these skills at work. In addition to ensure maximum productivity among the employees.

Digital banking

Digital marketers will be in very high demand. This is because most financial institutions such as banks want to revolutionize and change the way people bank. They want to innovate ways like mobile banking which allows a client to access all the banking functions just from their mobile, tablets or even computer. This, therefore, means that more digital markets will be needed this year. This is so as to market and introduce the concept to all the people in Singapore so that they can understand how it works.

Risk management

Many start-ups and established industries in Singapore have found out the need to mitigate risk so as to rise to profitability. Risk management experts are in high demand so as to carry out their job functions.

High demand for tax and audit professionals

Many financial and non financial companies have set up in Singapore. And all are under obligation to submit their tax returns to the government of Singapore for tax purposes. This has force them to seek for overseas talents. Why do they need overseas talent? They need these talents who are efficient in tax to help them calculate all the money owe by the companies to the authority.

Summary

With these trends in the job market in Singapore, the economy can be said to take a paradigm shift. And probably rise to profitability again.

 

In need of cash urgently to settle some financial  You can consider getting a loan from a licensed money lender. If you are intending to do so, you can approach our team of experienced staff at the best licensed moneylender. We have the expertise to advice you on which loan package is the best for you. Thus do hesitate and contact us now.

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How to Nurture Your Children So They Become Great Investors (2017 Update) http://legalpersonalloan.com.sg/nurture-children-become-great-investors/ http://legalpersonalloan.com.sg/nurture-children-become-great-investors/#respond Thu, 20 Apr 2017 10:00:58 +0000 http://legalpersonalloan.com.sg/?p=3933 Giving stock to your children can be a great way to nurture them into successful investors. But getting the right stock and the best strategies of making a purchase proves to be very difficult. Well, at first, it appears difficult. However, if you contemplate and sink deeper into the matter, you will discover very many...

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Become Great Investors
Become Great Investors

Giving stock to your children can be a great way to nurture them into successful investors. But getting the right stock and the best strategies of making a purchase proves to be very difficult. Well, at first, it appears difficult. However, if you contemplate and sink deeper into the matter, you will discover very many potential companies that are suitable for children’s investments.

Luis Espinal, a financial consultant at an accounting firm (Pricewaterhouse Coopers), suggested Toy maker Hasbro, as one of the best companies where children can make investments. If you make a thorough scrutiny of all the companies in the market, you will definitely get the best option that suits your needs.

Otherwise, you may also consider Electronic Arts, a company that makes video games for PlayStation and Nintendo. The best thing is- children are always fascinated by the name “video games”, regardless of whether they play or not. Children merrily feel treasured to have shares in a company that deals with video games.

Invest in Technology Stocks

A senior portfolio manager at a mutual-fund company (Stein Roe $ Farnham), David Brady, admitted that technology stocks have steeply fallen this year, but still emphasizes that Network Appliances and specific computer models can be considered for investments.

Kids like embracing technology; they look at it as their future, and understand the need to keep up with it,” says David Brady. That aside, do you ever think of Waste Management as a potential source of stocks? Sounds funny, but it’s always profitable. Although it isn’t a big-name company, Waste Management is a steady enterprise, as long as trashes are thrown into the garbage.

Go For Mutual Funds

If you still can’t find the right stock to give to your children, you can go for mutual funds, and then buy into these mutual funds for small investments. Although most of them require subsequent monthly investments of a certain amount, they serve as the best option if your children can comfortably handle them.

When it comes to purchasing stocks, we recommend you do it in a bit of style. Most people approach companies via intermediaries (brokers), but we suggest that you make a direct purchase from the company. It will help save your little money, which you could otherwise give to brokers.

Furthermore, look for companies that allow your kids to invest dollar amounts, instead of number of shares. By that, it becomes easy for children to set aside some money every week, so they buy more shares by themselves.

Besides, you can also gift your children the shares you already own. It is indeed a great gift to them and a relief to you because you will never have to go through the heck of paying taxes.

Want to start investing but do not have the fund? Did you see some movements on the market where you think you will be able to earn big bucks? You can consider getting a loan from a licensed money lender. If you are intending to do so, you can approach our team of experienced staff at the best licensed moneylender. We have the expertise to advice you on which loan package is the best for you. Thus do hesitate and contact us now.

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Importance of a Good Credit History (2017 Update) http://legalpersonalloan.com.sg/importance-of-a-good-credit-history/ http://legalpersonalloan.com.sg/importance-of-a-good-credit-history/#respond Mon, 23 Jan 2017 08:29:27 +0000 http://legalpersonalloan.com.sg/?p=3909 Importance of a Good Credit History   The world today is very fast and all of us spend in present based on what we would earn in future. Whether it is a new car that you desire, a dream home that you long for or a business venture that you feel has great potential for...

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Importance of a Good Credit History

 

The world today is very fast and all of us spend in present based on what we would earn in future. Whether it is a new car that you desire, a dream home that you long for or a business venture that you feel has great potential for income generation. All of this can be purchased based on your projected future income. With financial tools like credit cards available with the majority of the public, the urge to spend for the momentary pleasure becomes unavoidable. All this ties in to your credit history.

What a Good Credit History Means

Let’s first understand the basic rules of availing loan from a lender’s perspective. The first thing that any lender looks into before lending is the integrity of the applicant. Irrespective of how rich you are, how promising the project is or how valuable the asset is if you have a history of credit defaults your application may not sail through and this becomes even more important with unsecured loans like credit cards or even secured loans like car loans which are more of a luxury goods than necessity and people tend to be casual with them.

One thing we should all remember that any failed EMI (Equated Monthly Installment) of a loan, missed due date of credit card payment or a balance transfer on a credit card hits your score in reports generated by Credit Information Companies (CIC’s) like Experience, Equifax, Highmark and others which forms the entry barrier for consideration by any financial institution.

 

Why a Good Credit History Matters

In today’s world of social media, online access of virtually everything records every transaction whether monetary or non-monetary. For example, your first credit card while you were in school. Perhaps you used it for some purchases and then forgot to follow up for doing the payments. This way, it records the credit history. When we open a bank account or apply for a loan or a credit card we submit proofs. The proof includes our NRIC number, income tax registration number, passport number, mobile number, permanent address etc.

Whenever an applicant avails a loan the conduct of the loan on a monthly basis by default is shared with the CIC’s mentioned above. This detail is provided to any bank who pulls your report based on the identity or address proofs submitted earlier. This thereby provides banks access to your repayment history. These CIC’s use a complex algorithm to provide scoring based on number of factors. Available credit, amount of unsecured and secured loans where secured loans increase your score and unsecured loans decrease your score. Other factors include irregularity in loan repayments, written off loans and others.

 

Maintaining a Good Credit History

Another important factor with regards to your credit report is that it takes a only few defaults to reduce your score to unacceptable levels. Whereas it takes years of prompt repayment to build a respectable credit history. Therefore it is imperative that any loan that we take whether, secured or unsecured, we should make timely repayments. This helps in maintaining a healthy credit history. Any loans that we would require in the future would depend on how we deal with our financial liabilities today.

 

If you find yourself having any queries regarding how to maintain a good credit history, you may approach our team of experienced staff at the best licensed moneylender. We have the expertise to advice you on credit history matters, so do hesitate and contact us now.

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Passive Income (2017 Update) http://legalpersonalloan.com.sg/passive-income/ http://legalpersonalloan.com.sg/passive-income/#respond Thu, 19 Jan 2017 09:10:27 +0000 http://legalpersonalloan.com.sg/?p=3905 A Guide on Passive Income   Are you looking for Passive Income- Here’s the Answer The ‘enough’ in terms of money is a parameter that cannot be defined. If you’re happy with your 9 to 5 job, and don’t really want to multiply your income, then this article isn’t for you. However, for all of...

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A Guide on Passive Income

 

Are you looking for Passive Income- Here’s the Answer

The ‘enough’ in terms of money is a parameter that cannot be defined. If you’re happy with your 9 to 5 job, and don’t really want to multiply your income, then this article isn’t for you. However, for all of those who’ve been attracted towards the title of this post need to keep on reading. Passive income refers to an increase in income 24/7. You aren’t paid for what you’ve worked for, rather your income is based on the initiative you may take. Once achieved, your income grows even when you’re on a holiday. Money does not take days off. All you need is to know how it works. Remember that!

Empower others- Write a Book

If you’re good at something, why don’t you empower others- and in the meantime, earn money as well. The market may seem saturated enough, but a skill-set that can help others is still revered. If you’ve got a unique idea, then don’t hesitate to let others know about it. You can only grow when you’re out of your comfort zone. If writing a book isn’t congruent with your comfort zone, then go-ahead with it anyway. You’ll feel the difference. There are various platforms you can look forward to. But, the first thing is to motivate yourself to help others. Teach people something new and innovative. This is why you’ll be writing the book. Money would surely come, but for now, keep it as an afterthought.

Create a Website- Generate Maximum Eyeballs

If you’re looking to step into the world of passive income, then starting with having a website can do much of a good. You can either use the platform to market any of your product/services or you can place quality content on your website in order to attract maximum visitors. Once you’ve it in place, then the cycle would continue. Visitors will keep visiting the website, your products would automatically be marketed, and you can relish the passive income that you’ll generate.

Be Focused and Ready to Invest Time

If you aren’t willing to put in the hard yards, then passive income isn’t for you. Passive income sources doesn’t require you to invest a lot initially. All it takes is for you to be creative, and invest time. If you can afford that, then the possibilities are endless. Prior to embarking on any opportunity that comes your way, make sure you’re focused enough and willing to hang in there. Only such an attitude can help you make bucks, even when you aren’t actively participating in the money-making process yourself.

 

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Insurance for Investment (2017 Update) http://legalpersonalloan.com.sg/insurance/ http://legalpersonalloan.com.sg/insurance/#respond Tue, 17 Jan 2017 08:25:15 +0000 http://legalpersonalloan.com.sg/?p=3890 Insurance for Investment and Loans   Investment in insurance products is very popular especially as a Tax Saving option. Salesmen across companies promise everything up to the moon and highlighted focus is on good returns with life coverage. The options are virtually unlimited with bonds, stocks and many other asset classes included into the investment horizon. Thus, one need not worry in case you face a funds crunch as there is always an option to avail a loan on your policy based on the latest surrender value.   How Insurance Works Let us first understand the purpose of insurances and the methodology adopted in computing  the costs. The purpose of insurances primarily is to provide security and any insurance.  Products with investment features will have two constituents. This is namely the insurance component  and the investment component. Whenever we purchase any insurances for the purpose of  investment some charge towards payment of insurance cover are deducted upfront. The remaining amount is then invested for generation of returns. Since investment  are more in the nature of income generation in the long term their investment strategy differs from that adopted by mutual funds. This thereby limits growth potential especially in the short term.   Insurance and Loans Availing loans on the surrender value of insurance policies is also not simple as most of the  insurances are purchased for the purpose of saving tax and therefore there is a lock  in period before which loans cannot be availed also loans if offered are only made available  for up to 80% of the surrender value thereby reducing the quantum of finance available secondly if the surrender value of your policy is less at the time of requiring loans due to  adverse market movement then the loan available might be very less. This situation could have been avoided had one made direct investments in mutual funds,...

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Insurance for Investment and Loans

 

Investment in insurance products is very popular especially as a Tax Saving option. Salesmen across companies promise everything up to the moon and highlighted focus is on good returns with life coverage. The options are virtually unlimited with bonds, stocks and many other asset classes included into the investment horizon. Thus, one need not worry in case you face a funds crunch as there is always an option to avail a loan on your policy based on the latest surrender value.

 

How Insurance Works

Let us first understand the purpose of insurances and the methodology adopted in computing  the costs. The purpose of insurances primarily is to provide security and any insurance.  Products with investment features will have two constituents. This is namely the insurance component  and the investment component. Whenever we purchase any insurances for the purpose of  investment some charge towards payment of insurance cover are deducted upfront. The remaining amount is then invested for generation of returns. Since investment  are more in the nature of income generation in the long term their investment strategy differs from that adopted by mutual funds. This thereby limits growth potential especially in the short term.

 

Insurance and Loans

Availing loans on the surrender value of insurance policies is also not simple as most of the  insurances are purchased for the purpose of saving tax and therefore there is a lock  in period before which loans cannot be availed also loans if offered are only made available  for up to 80% of the surrender value thereby reducing the quantum of finance available secondly if the surrender value of your policy is less at the time of requiring loans due to  adverse market movement then the loan available might be very less. This situation could have been avoided had one made direct investments in mutual funds, stocks and bonds instead of purchasing insurances.

 

Protection

Insurances as a means of protection has a specific purpose and is necessary for everyone. However, as a means of investment and loans, insurance policies are probably overrated. Also, loans on insurances may come at a higher rate of interest and are mostly only  provided by the banks that have tie up with that insurance company. Any direct investment could also get you loans and the insurance coverage could be purchased separately. This includes stocks, mutual funds or bonds. Therefore one should avoid purchasing insurances  for the sake of investment and to take loans on those policies later.

 

For more information on loans and investments, feel free to come talk to us, or drop us a message with your queries! As the Best Licensed Money Lender Singapore, we can provide you with any advice you may need.

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9 Questions Before Getting a Loan (2017 Update) http://legalpersonalloan.com.sg/9-questions-before-getting-a-loan-2017-update/ http://legalpersonalloan.com.sg/9-questions-before-getting-a-loan-2017-update/#respond Mon, 16 Jan 2017 11:03:25 +0000 http://legalpersonalloan.com.sg/?p=3681 9 Questions to Ask Before Getting a Loan People need a loan for different reasons, but generally, it is for development purposes. However, it is of great importance to ask yourself and the bank some essential questions to see which type of loans will suit your situation. 1.     What is the condition of your credit...

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9 Questions to Ask Before Getting a Loan

People need a loan for different reasons, but generally, it is for development purposes. However, it is of great importance to ask yourself and the bank some essential questions to see which type of loans will suit your situation.

1.     What is the condition of your credit report?

This helps in accessing the ability to get a loan. If your ability to get credit is low, it is advisable to raise it before applying for a loan. You can raise it by paying down debt you might be having. You can do it by making payment on time and removing incorrect information from your credit report history as well.

2.     Is the loan to be applied secured?

Most banks need collateral before lending money to their customers. You may be asked to put up personal property as collateral. In case you default the loans payment, the bank can seize that property. Generally, most mortgages and car loans are secured as opposed to personal loans. You need to ask for clarification to be sure.

3.     What is the nature of the application process?

Consider the duration it takes before approval of the loan you are applying for. Also, consider the eligibility criteria used. The bank may need a credit report, bank statements, and tax returns. Others may just give you a loan simply by stating your income. Hence, it is necessary to compare different lenders. Also, check the duration the bank will take before lending you the money.

4.     How much is the application fee?

Different lenders charge different amount. Therefore, compare and choose the one that best suits you.

5.     What are their interest rates?

Annual percentage rates acknowledged as APR differ among lenders. It is therefore your core duty to identify which lenders have the best package to offer you. APR determines how much you will be charged and the total amount you will pay. Interest rates on mortgages and student loans are usually low averaging 5%. Credit cards have interest rates of over 10 percent, while personal loans have interest rates that lie between the two.

6.     How long is the loan repayment period?

Shorter duration of repayment leads to higher monthly payments. Loans repaid over a longer period reflects higher loan cost.

7.     Is there a penalty for repayment?

Some lenders charge a penalty when you pay faster than the stated repayment period. It is hence advisable to find out from lenders first before getting a loan from them.

8.     Is the loan use limited?

Some lenders restrict the use of borrowed money, especially student loans. They may restrict its use, so it caters for food, fees, and accommodation only. This denies you the freedom to use it anywhere else. Personal loans lack these kinds of limitations hence can be used as it pleases you. If you are concerned about your freedom to use the loan, ask for clarification first before signing up for a loan.

9.     What happens if I default?

You should find out the penalties charged on late payments or non- payments. You should be in a position to bear the penalties if not, look for other alternatives.

Loans can help you pay off your debt as well as reaching your different goals like starting a business. It is important to look for the loans realistically.

 

For any other inquiries you may have, feel free to pay us a visit, or you may drop us a message to clarify any questions. As the Best Licensed Money Lender Singapore, we are in a good position to answer any further questions you may have.


 

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Housing Loans (2017 Update) http://legalpersonalloan.com.sg/housing-loans-2017-update/ http://legalpersonalloan.com.sg/housing-loans-2017-update/#respond Tue, 10 Jan 2017 05:58:55 +0000 http://legalpersonalloan.com.sg/?p=3756 Importance of Housing Loans Housing loans are often tools that are useful in helping us achieve our dreams. Most of us have a dream of being able to own a house and call it our own. Many of us are working hard to ensure this dream becomes a reality. But unfortunately, for some, this dream...

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Importance of Housing Loans

Housing loans are often tools that are useful in helping us achieve our dreams. Most of us have a dream of being able to own a house and call it our own. Many of us are working hard to ensure this dream becomes a reality. But unfortunately, for some, this dream never comes true. Housing loans are therefore solutions you may utilize.

What are housing loans?

The difficulty in saving up money to purchase your dream home is very apparent. Real estate has a trend of exponentially increasing land prices, making it very expensive for home-owners. Mere investment in risk free assets such as investments would never be able to keep pace with the returns of real estate. Therefore, a possible solution to home ownership may be housing loans.

Housing loans are loans provided at affordable interests rates for longer tenures, based on your income. They are offered by financial institutions, being primarily focused on the asset being acquired or built. Your repayment capacity is also taken into account in housing loans. Applications for housing loans often undergo rigorous checks and inspections. Factors that count towards a good application success rate for you would be having a sound credit history with no adverse features.

Processing of housing loans

Before disbursing a housing loan, your property title must be verified by an advocate approved by the financial institutions. This is to ensure the property is free from dispute and titles are without qualifications. This process also ascertains whether the person entering the contract is legally competent to do so. Additionally, it verifies that you are the rightful owner of the property. Once the advocated submits a positive opinion, the next step is determining value.

A realistic estimate of the value of the asset is given by approved valuers or firms. Two values are taken into consideration: the market value and the distress value. The final housing loan approved will be dependent on these value estimates.

Eligibility for housing loans

Your eligibility to take a housing loan depends on two factors. First is value of the property -less margin of the applicant. Second is your gross salary and take home salary. Gross salary is the salary without any deductions and net salary is the take home salary after all the deductions. Most financial Institutions stipulate the maximum permissible deductions from the gross salary for computation of loan eligibility.

Depending on your goals, it may be advisable to take up housing loans, even for a small amount. Most financial institutions have systems in place to ascertain genuineness of the transaction. Safeguards are also undertaken to avoid disputes you may have. Thus, as a consumer, you may have a peace of mind.

We understand that this process may seem complicated and daunting at times.As the Best Licensed Money Lender Singapore, we aim to simplify this process for you, as much as possible. For any inquiries you may have, feel free to visit us, or you may choose to drop us a message to clarify any doubts.

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