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There are many times that we get into a financial crisis. During this kind of time, we think of borrowing money from a bank. But, what if the purpose you think of taking the loan is too personal? In that case, you can take up a personal loan from the private moneylender in Singapore. We at Crawfort can provide you with the best kind Personal Loan there is. We provide you with all kinds of benefits.  

What is a Personal Loan? 

This category of loan is lent to an individual. People mostly take up this loan to meet the uncertain medical cost, wedding expenses, debt, renovate homes, and much more. This loan has its features, which makes it more approachable for the people. It requires minimum documents and is flexible. The repayment period of this loan is shorter, around 1 to 5 years. The APR of the lender depends entirely on the lender’s profile; the range can vary from 11.29% to 35%. The prepayment options vary. It may or may not be applicable. You can avail of all the other details through the Crawfort Website

What is a Pay Day Loan? 

A payday loan is a loan for short term and small amount. This is when someone is short of cash. The amount can be paid back just after the next payday. If not careful, the payday loan can end up in a large amount. Thus, thorough research is recommended. These loans are paid off in just one installment. The due date of the loan is mostly within 2 to 4 weeks of the day the loan is issued. The loan proceeds are mainly done in cash or credit. Every state has different laws for the payday loan.

Another type of loans that we offer –

We all face a sudden need for cash at some time or the other in our lives. This is when a personal loan can help you out. It is a kind of unsecured loan in which you can borrow from any bank or any other financial organization in case you need cash. This is a quick way to get some money. You will be handed over the cash as soon as your application gets approved. There are five types of personal loans. Let us get into a detailed discussion of the models. Get a better view of the details from the Crawfort Website.

Secured  Loan 

In a secured loan, you will have to put up any asset of yours as security. Only this way you can get a secured personal loan. The asset can be your car, jewelry, or house. Keeping any asset as the guard means that the lender can take possession of your asset in case you fail to repay the amount you have borrowed. In this kind o loan, the interest is quite low. 

  • Advantages 

– You can quickly get a personal loan from a renowned lender.

      – As the lender has less risk, you will, in return, enjoy lower interest rates and fees.

  • Disadvantages
  • The only problem is that if you ever fail to repay any amount, the bank can sell the asset or any part of it to recover the amount. 

Unsecured Loan 

This loan does not require you to keep any of your assets as safety. This is an excellent option if you do not have any asset to hold as security. In an unsecured loan, you might have to convince the lender to lend you money and that you can make the repayments on time.  You can provide the lender with the pay-slips of your income. You can also get a guarantor who will help you in getting the loan.

  • Advantages 

      – The best option in case you do not have any assets.

      – You can get a lower interest rate.

  • Disadvantages

       – The lender can take a legal step in case you fail to repay the amount.

       – The fee penalty for late payment is high.

       – The interest rate is high than the secured loan.

Student Loan 

Many students are under the financial burden while they are pursuing higher studies. Many banks and other lending organization offers financial aid in the form of student loan. You can buy books or laptops with this loan. This loan takes off the tension of an extra income while studying.

  • Advantages 

       – You defer the student loan for five years, at least.

       – Many banks do not have an upfront fee for this loan. 

  • Disadvantages
  • The interest applies from the day you take the loan; thus, the rate starts to get high.

Overdraft or Line of Credit 

This kind of loan is best for any emergency incident. This loan lets you overdraw the account to a pre-agreed amount, which will be established by the bank. You will only have to pay interest for the amount you will use, not on the maximum you were about to borrow.

  • Advantages 

       – You will have the extra cash in a hard time and that too 24/7. 

       – Interest will only be implied on the amount you use.

  • Disadvantages 
  • In comparison with any other loan, the interest rates are higher in this one.

Benefits – 

We are known as one of the best Private Money Lender in Singapore. We provide you with the best offers and interest rates. We probably offer the most reasonable and lowest interest rates. All our processes are digitally processed. You can complete all the steps and process from applying to KYC, online. You can even check all the updates and information online. You can repay your loan through SAM or AXS machines. That’s right; you do not have to come down to our office every time to pay the amount. You can rely upon us for all your loan requirements. We are a trusted brand. We are licensed. We have approved over 200,000 loans since our start in 2011. We provide you with the utmost security from the beginning to the end.  

So, do not wait another moment and join our family. We are just a call away.