Singapore is renowned for being a beautiful country full of friendly people, but it is also notorious for being one of the most expensive places to live in the world. Because of this, if you live there, you might be considering taking out a loan. There are many legal money lender Singapore available to choose from, so it is worth taking the time to research them online and chose one that best suits your needs. • Never borrow from an unlicensed money lender. There are easy to find lists online that will advise you of all companies in Singapore that are licenced. • When choosing a legal money lender in Singapore, it is advisable to consider the facts. Firstly, is it affordable? You are legally required to pay back the full cost of the loan once the terms have been accepted. Only borrow what you are comfortably able to pay back. • Always look at the rates offered by the legal money lenders– are they reasonable, and do they have a penalty for paying back the loan early? These factors could make a big difference to you, once you have entered into the contract. • Be wary of legal moneylenders in Singapore that want to retain your NRIC card or other personal documents – driving licence, passport etc. This is not common practice and could be a way of forcing you to pay back the loan. Also, don’t take any loan if they have a clause to withhold any of the money for any reason, or ask you to sign an incomplete note of contract. None of this is accepted the practice, and you can report the company for these types of behaviours. If you are mindful and do your research, ensuring that the company is licenced and that they have good rates, it is not too difficult to get a loan from a legal moneylender in Singapore that will help you make the most out of the wonderful country.