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The Types of Personal Loans You Need To Be Aware Of

There are various reasons why people taking out personal loans. Whether you are planning a wedding, furnishing a new home, dream vacation bucket list, medical treatment, powering up your smalls business and paying for education, getting your financial life on track, most of this goals require money. With some sound of planning, there are ways a personal loan can help you achieve these dreams and much more. It is easy to get a personal loan since many money lenders in Singapore offer an attractive package and flexible paying terms with low-interest rates. The following are some key tips for choosing a personal loan: Know your credit history before applying for the loan Plan your budget beforehand Decide only the amount you need and not in excess Check out the interest rate and flexible paying terms on the loan Understand all charges associated with the loan such as prepayment penalty etc. Be careful about the risks involved, in case of secured loans Medical Paying your medical expenses for being diagnosed with a terminal condition, need for medical attention and treatment or operation this may not always happen by choice. And you need to be able to cover the cost in the...

What Are The Costs of Bad Credit

Bad credit has no particular range. It is a matter of viewpoints that vary from each moneylender. It may one of the moneylenders consider your credit score as poor while others will put you in the range of subprime. By way of maxing out your credit cards and ignoring your bills, it would not dawn on you that your credit might be affected. The timeliness of your credit card payments and the amount you’re carrying would have the biggest impact on your credit score. Your credit score will plummet if you mess up in these areas. Having a bad credit score, your loan application might be decline or your loan company in philippines will provide a lower amount of loan. If for instance, you need a certain amount of cash for your house improvement, business, studies or health issues, you may not be able to have. Here are some of the most common costs of bad credit. Credit card and loans The worse your credit, the more trouble you might have qualifying for new credit cards. It means having a low credit indicates you’re a riskier borrower than someone with a better credit score. Creditors and lenders make you pay...

In What Ways To Keep A Good Credit?

A credit score is primarily based on your credit report information which typically sourced from credit bureaus. It also represents the creditworthiness of an individual if you seriously delinquent on your credit obligations in the 24 months scoring. Lenders used credit scores to determine the potential risk posed by lending money to consumers and to mitigate losses due to bad debt. Also, to evaluate if the borrowers if qualify for a loan, at what interest rate, and what credit limits. Limit your applications for new credit Attempt making multiple loan applications will be labelled as a credit hungry for cash. If you badly need a cash go to various lenders to get a loan, and this will look as bad for future potentials lenders as they can also check your enquiries in your credit history. For those who really have to do a couple of loan applications, have an interval. Avoid getting a house loan and another personal loan if in case you realize you need more cash for down payment.  You can acquire your home down payment from Central Provident Fund (CPF)  while if you would like to get a Housing and Development Board (HBD) flat, then use a...