Availing for a Personal Loan: What Should You Do?
Nearly every moneylender in Singapore can offer personal loans to clients who need financial assistance. However, like in any other type of loan, it is important to be smart in managing one’s finances. With the aid of technology, moneylenders and banks make it easier for borrowers to apply for a personal loan, but borrowers need to understand that there needs to be a great responsibility when it comes to personal loans. To make sure that your loan does not become a financial burden, here is a checklist of what should you do:
1. Ask yourself this question: What is the purpose of the loan?
Always ask yourself this question. Will you use the loan to pay for medical expenses or educational expenses? Will you use the loan to buy a new home or a new car? Asking yourself on what is the purpose of the loan can make you think whether availing for a loan is necessary or not.
2. Choose the right moneylender.
Many moneylenders in Singapore can offer you a personal loan. You mustn't rush into choosing one, and you should choose the moneylender that can offer you the best deal.
3. Always read the contract.
Moneylenders are obligated by law to explain the contract to you in a language you understand, but you should do your part as well by listening, asking relevant questions, and reading the terms of your contract. Do not sign a blank Note of Contract, and never sign a contract if you did not read the terms and conditions of the contract.
4. Choose a loan tenure that you can handle.
It can be tempting to choose the shortest loan tenure that the moneylender can offer. However, it is important to consider the amount that you can pay in every installment.
5. Make sure to consider your other existing loans
If you have other existing loans, like car loans or mortgages, then you might want to disclose these with your moneylender. Existing loans may affect your credit score and diminish your repayment capacity.
6. Avail for an amount that you can handle
Availing for an amount that is more than what you need is a waste. The principal amount will generate interests that may need you to apply for a longer loan tenure and higher repayment amount.
7. Never miss a payment or never pay late
Availing for a loan means that you must meet the repayment schedule. You should take note that the moneylender can charge interest for late repayments and a late penalty fee, which can prolong your loan tenure. Also, not paying for a loan may damage your credit reputation and history.
Always choose the right moneylender
There are many moneylenders in Singapore who offer personal loans. However, choosing the right one can be challenging. With Fortune Credit, you can get a personal loan with low interest rates and a flexible repayment plan.
4 Brunch Places You Never Heard About in Dempsey Hill
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Baker & Cook
Baker & Cook is Singapore's only true artisan food store and bakery. It first opened its doors back in 2012 and has since been producing hand-crafted baked products carefully created with time honoured processes with only the finest ingredients. The man behind this pride and creation is none other than celebrated Global Baker, Dean Brettschneider.
Don't forget their sumptuous brunch menu which includes the Breakfast Chia Seed Bowl (white chia seeds, soaked overnight in coconut and soy milk, topped with berries, bananas, almonds and coconut flakes), Spanish Omelette (Chorizo sausage, red & green capsicums, onion, cheese, a kick of chili served with B&C toast), or their B&C Savoury French Toast (Thick slices of B&C Signature Vollkorn bread, layered with chilli and herb mascarpone, pureed avocado, crispy bacon, roasted cherry tomato, shallots, toasted seed and grain with rocket salad).
Carrotsticks & Cravings
Carrotsticks and Cravings is a healthy food haven- it's a cafe, cooking school and food blog all rolled into one. It's where you'll find nutritious food that's made with love, and run by Terri-Anne, a Melbourne expat who lives in Singapore and is happily married with three kids.
Try some of their mains like the Pistachio, Cranberry and Orange Stuffed Snapper. This all-time Christmas fave recipe can easily be done on the barbecue or in the oven. It's full of wonderful flavours like oranges, cranberries, pistachios, and fresh herbs. There's also the Fig Walnut Haloumi Rocket Salad. This is the quick and light recipe everyone should try if they want something fresh, simple and healthy. For desserts, try their irresistible Snickers Fudge Bites, Summer Fruit Salad, or Christmas Rocky Road.
The Dempsey Cookhouse & Bar
Critically acclaimed Chef Jean-Georges Vongerichten's legendary involvement in all aspects of his restaurants- from concept, menu, architectural design, to his staff selection and training, is evident in The Dempsey Cookhouse and Bar. It features an enticing menu showcasing his signature contemporary Asian- inspired European cuisine. You will find delight in its exquisite flavour combinations and innovative use of fresh, locally-sourced ingredients. This elegant resto with its open kitchen turns the cooking process into an amazing performance, while the communal dining experience is truly unforgettable.
Morsels
Created and run by Chef-Owner Petrina Loh, Morsels has relocated to the famous food enclave of Dempsey Hill. The resto is set in a rustic-looking barnyard that's surrounded by lush greenery. This 40-seater food joint never fails to serve creative fusion dishes of delectable flavours that will surely engage all five senses.
If you're eating here for the first time you may want to try the Lunch Omakase consisting of dishes carefully handpicked by the chef herself, then top it off with the Wine Pairing combination if you wish to get a few glasses in. Truly, being in Morsels will always make for a fantastic gastronomic experience you wouldn't find anywhere else!
Make sure you’re always financially prepared before Brunch! Head down to Fortune Credit in case you need financial assistance. It’s easy to get to us -- just use this helpful directions guide!