CAPITAL FUNDS INVESTMENTS
65 Ubi Crescent #03-03 HOLA Centre S.408559
"Collateral" means something of value, like a home, boat or car that the lender can repossess if you don't repay the account as agreed. Personal loans are backed only by your promise to repay, and for this reason they are also known as "signature loans" or "unsecured loans."
Things You Should Know on Borrowing:
Minimum Period for Repayment From 3 months (90 Days)
Maximum Period for Repayment Up to 12 Months
Minimum Annual Percentage Rate 12% per annum
Maximum Annual Percentage Rate Up to 47% per annum on reducing interest rate
Sample Representation of Loan with Maximum Rates:
Total Amount Borrowed $1,000
Time Period * 12 Months
Interest Rate Per Month ** 1% Per Month
Annual Percentage Rate of Charge (APR) ** 12% APR or 1% NIR
Total Repayment to be paid *** SGD 1,120 ($1,000 Principal & $120 Interest)
* Time period is from a minimum period of 3 months and maximum period of 12 months.
** Interest Rate may vary up to a maximum of 3.92% per month, depending on loan amount and period of repayment.
*** The tables mention above is an estimation and for illustration purposes only, please check with the respective Licensed Moneylenders. It may vary due to loan amount, period of loan and other fees such as late fee and late interest rate that may be charged in the event of violation on terms & conditions.
What is annual percentage rate APR?
An annual percentage rate (APR) is the annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction.
Notes to Borrowers:
You are using the #1 Consumer Financial Directory in Singapore. You can find a list of trusted licensed moneylenders here. In fact, we make sure that all advertisers featured in our online directory are evaluated and chosen carefully, particularly those that are already licensed by government authorities in the country.
Although not all companies or financial institutions are featured in our directory, we make sure that you understand our policies well. This will enable you to know exactly what your options are, so you can also make the best decision. You need to understand ahead of time if there are additional fees involved upon the approval of your loan. It also helps if you ask about other issues such as penalty fee or late interest, as well as the method used in calculating and charging these fees. You should also be aware of the company’s guidelines and renewal policies, particularly if you have a plan of renewing your facilities in the institution.
Most importantly, ask how default or delayed payment can impact your credit scores. Over here, we advise all borrowers to be prudent when they submit their loan applications. After all, it is never practical to over-commit on a loan that you may not be able to repay, specifically with short term loans involving a high interest rate. For more information, please visit The Registry of Moneylenders website – Guide to Borrowing from Licensed Moneylenders
Only Borrow When You Have No Other Choices. Do Not Borrow To Gamble.