SINGAPORE, Jan 06, 2022 (GLOBE NEWSWIRE) – Cash Mart Singapore, a leading player in the lending industry, today announced that it acquired controlgreed.com, one of the Web’s main financial resources for individuals and families in difficulty.
Controlled Greed aims to inspire its readers to have stable finances and to work for their financial resilience and freedom.
This acquisition is a milestone for Cash Mart as it aspires to add even more value in the financial space, particularly in South East Asia.
Cash Mart Singapore’s goal is to devote space to financial literacy such as budgeting, savings, responsible borrowing, facts about licensed money lenders in Singapore and invest in undervalued stocks.
In addition, some content will focus on typical and global investments such as net working capital, low price-to-earnings (P / E) ratios, and book value discounts.
It also covers getting legal payday loans, small business loans, calculating interest, and finding the best loan product for every need.
Cash Mart Singapore hopes this website serves as a guide for anyone looking to understand their finances better, as the name of the website refers to Warren Buffett’s famous words: “You must be driven by controlled greed and fascinated by the investment process ”.
SINGAPORE MONEY LENDERS ACT
The Singapore government has strict parameters in place around the money lending industry. This is to ensure that the rights of borrowers and lenders of money are protected.
Unauthorized lenders have high interest rates and have notorious collection practices. They are called usurers or Ah Long.
They scam and trick people into signing loan contracts with unfair terms.
On the other hand, approved lenders should have competitive interest rates and more flexible payment terms. They are required to explain the loan agreement in terms that the borrowers can easily understand.
Also, if you get an unsecured loan or an unsecured loan, the lender will have to base your loan amount on what the Lenders Act allows.
Permanent residents whose annual income does not exceed $ 20,000 can obtain a loan of up to $ 3,000.
This is the maximum total loan amount that they can borrow from all approved lenders. Let’s say a permanent resident borrowed $ 1,000 from Approved Lender A. Then Approved Lender B can only lend up to $ 2,000.
Permanent residents who have an annual income of more than $ 20,000 can get a loan of up to six times their monthly income.
If the users are foreigners, they can still get a loan from an approved lender. You can get a maximum loan amount of $ 500 if you earn less than $ 10,000. If your annual salary is over $ 10,000, you can borrow up to $ 3,000.
Since the loan amount, fees and charges are highly regulated, this keeps the industry very competitive and gives borrowers more options.
ABOUT CASH MART SINGAPORE
Cash Mart Private Limited (CMPL) is a reputable authorized money lender with a growing list of loyal customers over the past 50 years.
More than just a lender, Cash Mart aims to be a financial partner that delivers a personalized customer experience with flexible loan products.
Based in Balestier, Singapore, Cash Mart is one of the country’s leading loan companies specializing in personalized loans for Singaporeans.
Brand: Cash Mart Singapore
Address: 277 Balestier Road, Singapore 329726
Telephone: +65 6397 4111
Email: [email protected]
THE SOURCE: Cash Mart Singapore