To help borrowers understand the maximum allowable interest and fees under the current rules and regulations applied to moneylenders in Singapore, we have put together a handy example loan calculation to illustrate the maximum legal cost of a hypothetical $1,000 one-month loan. Continue reading “What will it cost me to borrow $1,000 under the current rules and regulations for licensed moneylenders?”
Tag: rules
Have you heard about the new rules limiting the fees and interest that licensed money lenders may charge? See a comparison of the old rules versus the new rules below. These new rules are expected to dramatically reduce total borrowing costs for borrowers. Continue reading “New rules on fees and interest take effect October 1, 2015”
