What can I do when logged in?

You can submit new articles, so we can make unique versions of them and distribute them for you.
If you want to simply publish the same article on 800 websites, you can tell us to do that.
You can see the archive and current status of all your article distributions.
You can order any number of high-quality articles - just let us know your keywords.
You can browse the archive of all the articles we have written for you.
You can order our Complete Service (10 high-quality articles plus 10 article distributions).
You can purchase more credits for our services and check your affiliate earnings.
Much more ...

SpinDistribute.com Article Directory

The following article was published in our article directory on July 16, 2013.
Learn more about SpinDistribute Article Distribution System.

Personal Loan Singapore: Frequently Asked Questions

Article Category: Finances

Author Name: Dean Wang

There are questions loan applicants should ask personal loan Singapore financial institutions people although it is true that not all questions have the same level of importance to all borrowers. Listed here are six very important questions and their corresponding answers or explanations. Some of these questions may have not come to your mind. Read on to get more information.

#1. Why is the loan value credited to the borrower's account less than what has been approved?

The difference in the amounts is due to the service fee and the insurance fee. In most banks, 3|of the approved amount is paid to the lending company for processing the loan while 1|is deducted for the insurance fee. For those who favor receiving a check rather than having the amount credited on their personal bank accounts, the same deductions are done.

#2. For what is the insurance?

The insurance s purpose is to guarantee full payment to the lender upon the borrower s death or in cases of permanent and total disability at some point in the payment period. The terms of payment and the amount to be paid thereafter are agreed upon by the insurance company and the lender.
#3. Why do borrowers sometimes get less than what they had stated in their application?

Personal loan Singapore financial institutions are limited in how much they can give borrowers. For personal loans, the Singaporean government strictly requires financial institutions to offer only the maximum amount allowable for every borrower. The maximum amount set by the government is twice that of a borrower s monthly income. Besides, financial institutions have their own sets of policies for evaluating applications.

#4. How can borrowers know their repayment amounts and their due dates?

This is one of the most common questions as details on this seem to be the most important for borrowers to know. But these details are actually easily available accessible. These details are clearly stated in the approval letter sent to borrowers. The approval letter comes to the borrower together with a brochure that contains a list of FAQs.

#5. Will borrowers receive monthly payment statement with information about the payment and the outstanding balance each month?

Borrowers should not expect monthly statements as monthly repayments for most institutions have fixed rates. Payment amount does not change all throughout the repayment period. For information on outstanding balance, borrowers are directed to call 24-hour hotline of their lenders.

#6. Are there fees other than the processing and insurance fees?

Yes, there are but these additional fees are charged only against delinquent payments or breach of agreement. For example, a bank may charge for late payments or for prepayments. Some banks charge around $80 for late payments and about1.5|of the outstanding loan balance for prepayments. Borrowers should be clear on these additional items because problems can happen along the way.

Choosing the Personal Loan Singapore Financial Institution

Research about the financial institutions under you consideration. Read reviews about them and consider the length of time of their service. Older institutions have more stable financial standing and are more likely not to hide details to deceive clients.

Keywords: Personal Loan Singapore

Learn more about SpinDistribute Article Distribution System. We also offer Professional Article Writing to everyone who's looking for high quality web content.

SpinDistribute.com Network

Each article you submit at SpinDistribute.com is sent through our innovative Article Distribution System to our network of more than 1840 publishers - about 55% of them are high-quality article directories, 30% of them are niche blogs and 15% of them are other content-rich websites.

To achieve the best possible success we only publish your article to most related websites. This means your article will show up on approximately 640 - 880 most related websites which will give you great SEO results.

We also offer a separate Professional Article Writing Service to everyone who's looking for high quality web content and well researched unique articles.