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How To Pay Off Personal Loan Quicker – Accredit Pte Limited was granted a pilot program by the Ministry of Justice and is a new generation of licensed moneylenders with a sustainable model focused on consumer protection. With branches all over the island of Singapore, we offer you our loan services.
Accredit Money Lender Singapore develops innovative digital solutions to make the loan application process as easy as possible and offers unparalleled affordability. Now you can apply for a personal loan anywhere! With branches across the island of Singapore, applying for a loan has never been easier.
How To Pay Off Personal Loan Quicker
Our Guarantee We are an authorized lender in Singapore offering responsible credit and lending options since 2002.
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Our own credit systems make approval fast and efficient. Get your loans in Singapore NOW without waiting for approval!
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Contact us at any time of the day to service your existing credit accounts or make new inquiries.
Submit your loan application data online, wherever you are! Get a quote to get an estimate of available loan repayment terms
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Our credit systems make approval a quick and instant process. Our staff will contact you to arrange an appointment if your application is successful.
Visit our branch with the necessary documents and receive your money immediately! Don’t wait and get your money the same day.
A personal loan is a short-term loan for personal needs. This facility is available to all eligible Singaporeans with a stable income. You can also apply for a personal loan if you are a foreigner with a valid passport to work and live in Singapore. Accredit Moneylender offers easy personal loans in Singapore with fast approvals and reasonable interest rates. We also allow you to choose a suitable repayment plan for your loan to make repayment stress-free and hassle-free.
Financing your own business can be a tedious task. Especially if you are starting from scratch with zero financial profit margin to rely on. Although you may not earn an immediate salary from the new company, you still have to pay your employees and keep the system running. Accredit Money Lender supports these entrepreneurs and provides a comfortable cushion of business loan solutions for our aspiring entrepreneurs, especially during difficult times. We offer short-term, medium-term and long-term loans based on your needs.
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Debt consolidation is a process where we help you consolidate a new loan to pay off many smaller loans without collateral or debt. This product is useful if you can’t pay off payday loans, credit card debt or other smaller debts. In this process, we consolidate all your debts and smaller loans into one loan that can help you settle them with ease. Our experienced loan consultants at Accredit & Legal Money Lender Singapore will assist and advise at every stage of debt consolidation to ensure everything goes smoothly.
Financing your own business can be a tedious task. Especially if you are starting from scratch with zero financial profit margin to rely on. Although you may not earn an immediate salary from the new company, you still have to pay your employees and keep the system running. Licensed lender Accredit supports these entrepreneurs and provides a comfortable cushion of business loan solutions for our aspiring business owners. We offer short-term, medium-term and long-term loans based on your needs.
There are many reasons why people in Singapore cannot pay their debts. The most common reason is that people do not have enough money at the right time to pay their debts and the amount accumulates to become a significant debt. But we’re going to share with you some great tricks to help you get out of debt this year. Here’s how you should get started.
Before you start thinking about how to pay off your debts, you must first make a list of all the debts you have. This is because you want to know exactly how much you owe each creditor. When you can clearly see the amount you owe and the number of people you owe it to, it will help you come up with a better debt management strategy. You can miss paying your debts if you don’t have a written list.
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Start by creating a budget that shows your income and expenses for each month. In this way, you can allocate your scarce resources more efficiently. Budgeting will also give you an idea of expenses that you can reduce or avoid altogether.
Once you’ve set your budget, you should also determine your debt-to-income ratio. Ideally, your debt-to-income ratio should never exceed 35%. In other words, every month 35% of your income should go towards your debts and you must not exceed that amount. Because anything beyond that will prevent you from paying all your debts. Therefore, if you intend to take out a new loan or credit card, make sure that the installments, together with the previous obligations, do not exceed 35%. It is always better to avoid taking new loans before paying off your previous payments.
An important step in solving your debt is to accept that you have a problem. And to avoid the problem, you have to sacrifice a little and work hard. So be prepared to reduce your expenses. If you continue to live a fancy life with all the big expenses, you will have a hard time paying off your debts. So start comparing the goods and services available in the market and choose the cheapest one without compromising on quality or features. Also, cut back on non-essential spending, such as going out and entertainment, until your finances are back under control. These small steps will leave you with more money on hand at the end of each month that you can use to pay down debt.
It’s common sense that if you have multiple debts to your name, you should pay off the one with the highest interest. You should know that you have to pay off your debts now or later if you want to have a good credit score. Higher interest debt will only add to your pain as you pay more and more each month. If you can’t pay off all your debts at once, leave them with a lower interest rate for later. That way, less money will accumulate that you have to pay later.
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In most cases, paying by credit card will have the highest interest rate. Don’t forget to clean it first. Also, try to control your card purchases to avoid accumulating further debt.
It’s very easy to have extra cash on hand when you receive bonuses, incentives or insurance money. Instead of using this amount to live a luxurious life or buy something big, you can use it to pay off your debts. You can ask your bank or lender about the terms of early repayment. And as you know, when you get a bonus, pay off the debt with the highest interest first.
In another scenario, if your salary has increased, you can consider paying more each month. You can ask your lender if it is possible to increase your monthly payments so that you can make payments faster and save unnecessary interest.
As you can see, there are several ways to get out of debt. You have to have the mindset that getting out of debt is easy, but not easy, so you can’t afford to relax. So just think intelligently, prioritize your debts, do some cash planning and you will be able to pay off your debt without too much worry. It’s easier than you think! A licensed money accreditor in Singapore can help you. Find us at any of our branches in Singapore. Be sure that there are agencies that suit you!
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As of October 1, 2015, the maximum interest that moneylenders can charge is 4% per month. This limit applies regardless of the borrower’s income and whether the loan is secured or unsecured. If the borrower does not repay the loan on time, the maximum late payment interest that the lender can charge is 4% per month for each month the loan is late.
– a commission that does not exceed 10% of the principal amount of the loan when approving the loan; It is
– legal costs determined by the court for the lender’s successful request to recover the loan.
If I am a loan guarantor, what should I pay attention to?
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Do not take loans from unlicensed Singapore moneylenders. Check if the moneylender is licensed in Singapore by checking the list of licensed moneylenders. Click here to access the list of authorized moneylenders. Even if greengrocers are licensed, consider the following:
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