On Line Credit Pte. Ltd money lender in Bedok initially started operating in Bedok. Furthermore, it is an independent financial service company that has been in the marketplace since the year 1998. The company has provided credit and financial services to many clients who require financial help.

Ever since On Line Credit Money lenders in Bedok. has advanced to provide a different product collection to their clients, which consist of bridging loans which are meant for private assets, personal loans, short-term loans, and loans that are meant for only foreigners living in the area of Bedok.

Below are some of the valuable tips that can guide someone on how to borrow any loan from On-Line Credit Pte. Ltd.

1) Necessary Documentation

Before you are given any loan by any licensed moneylender, they must be convinced that you are capable of paying back the loan that you took. For that reason, the licensed moneylenders will always demand some documents from the loan borrower. This will guarantee them that you can pay back the loan.

Some of the most important documents that licensed moneylenders to need are as follows;

  • Proof of your home address
  • Proof of your identity
  • Photocopies of all assets documents
  • The latest salary slip
  • Bank statement the last three months

2) Interest Rate

In Bedok, the highest rate that a moneylender is supposed to charge a person borrowing a loan is 4% every month. This is regardless of the monthly salary of the person borrowing a loan and whether the loan is secured or not secured.

There are different interest rates that you should consider:

  1. Annual Interest Rate

This is the type of rate the borrower pays every year. For example, if 3%p.a is the rate that is charged, then you should pay that same amount of cash that you took in addition to the 3% in that same year.

  1. Effective Interest Rate

Compared to the annual interest rate, this kind of rate is a little higher. The reason behind this is that effective interest rates usually take fees such as several installments, administration fees, processing fees, etc.

Therefore, the general amount a person has to pay is only the principal amount plus the interest, even though some other charges may be included.

3) Consider A Short-Term Loan If Your Credit Score Is Low

The advantages of the short-term loan are as follows:

  • You do not require a warranty.

Long-term personal loans, for instance, home loans, will require a warranty. On the other hand, a short-term loan will come with some pressed principal calculations.

An authorized moneylender always helps the borrower to create the most appropriate plan so that he or she invests that particular loan very smartly.

  • Lower interest rates.

The short-term loan is not risky and also has an interest rate that is much more affordable. The probabilities of losing your income source or even being involved in an accident are usually less through a minimal time.

That is the main reason why lenders do not increase their rates of loans to reduce any potential risk.

  • Quicker transfers.

A short-term loan is less risky, and as a result, the requested loan will be approved in less than one hour by the lender.

4) Consider A Long-Term Loan If You Need More Money

This type of loan will allow someone to borrow a huge amount of money. Always make sure to borrow a longer-duration loan if you have an urgent issue. For example, buying a car, paying your school fees, or even going for a vacation.

Below are some of its advantages:

  • Reduced EMI.

When long-term loans are increasing over a high period, the main amount is then divided into smaller installments. Do not forget to use the personal loan calculator to conclude the accurate tenure size for the need that you might have. Or else, the additional interest that mounts up over some time, enables you at the end of the day to lose cash.

  • Better credit score.

When you decide to pay the loan on time, then there will be a particular upgrade on your credit score. This is why moneylenders usually honor you as a trustworthy client. Therefore, have in mind that your financial history is always determined by the 30% of the credit score, while 25% will be determined by your credit length.

5) Avoid Loan Sharks

Unauthorized moneylenders usually target people who have a low credit score. They go ahead to trick these people to do business with you, at the end of the day, the lenders will annoy and even squeeze more cash from you. This is one of the reasons why you shouldn’t deal with illegal moneylenders.

Below is how you will identify a loan shark:

  • They will never call you to go to their main offices for the unresolved diligence. Instead, they promise you to allocate that loan cash through WhatsApp or even phone calls.
  • They won’t ask you for the exact documentation, but alternatively, they might request you to bring your national identity card.
  • They usually use powerful advertising strategies. Such as ads via e-mail or sending text messages. On top of that, they use their only websites, their building walls, or specialized directories to market themselves.
  • They aren’t found on MinLaw’s database for authorized moneylenders in Bedok.
  • They usually harass people when they miss a payment.


Before you decide to obtain a particular loan, the first step is to carry out an in-depth background check for different moneylenders in Bedok. Money lenders in Bedok might favor your needs because it usually has the best terms ever!

Apart from that, debt collectors will help you reduce the interest by directing you to one of the debt consolidation services. Though, you can decide to make this very clear when dealing with an illegal moneylender. Lastly, when in Bedok, be sure to acquire the best-legit loans from licensed Money lenders in Bedok.