Over the last few years, fewer and fewer Singaporeans are applying for loans due to increasing interest rates. It goes without saying that less debt is good, but the same cannot be said for high interest rates. Fear of falling into crippling debt due to high interest rates prevents many from accessing loans that could help them seize new opportunities or even improve financial health.
As a loan matching site, Lendingpot has helped more than 6,000 individuals to date, in their quest for the lowest personal loan interest rates. Read on to learn how Lendingpot helps clients secure low interest rates in Singapore.
Lendingpot has collaborated with more than 60 individual loan providers. Our clients, therefore, gain access to a wide range of lending partners including some of the leading banks and moneylenders in Singapore.
More lending partners mean a wider range of interest rates available, in addition to more loan products and packages. With more lending partners on our platform, your chances of encountering lower loan interest rates increase significantly.
For example, borrowers who face challenges obtaining personal loans from banks due to their exacting requirements have immediate access to private lenders who tend to have less stringent requirements and more flexible loan terms and conditions. This obviates the need for visiting multiple websites to compare and contrast or the need to invest time and effort filling in applications.
In addition to having access to more financial institutions, Lendingpot platform makes it easy to compare loans. After registration and application–which can be done with ease using your Singpass Myinfo–you will be able to receive loan offers in as quick as 48 hours or less.
Receiving multiple loan offers and being able to compare them allows you to pick the lowest interest rates available. This, as you can imagine, is not easy to do if you have to connect with lenders one at a time.
Clients who apply for loans through Lendingpot can enjoy the fruits of healthy competition among loan providers. On our platform, our financing partners will compete with each other for your business, offering the most favourable terms and conditions to persuade you to take up their financing offers. This healthy competition is one of the main reasons why Lendingpot can offer our clients the lowest loan interest rates available to them in Singapore.
Receiving favourable loan conditions and low interest rates depends as much on you as the borrower, as it does on the lenders. As a borrower, you can also take specific steps to ensure that you are viewed in a favourable light by financial institutions. Some examples include improving your credit score or reducing existing outstanding debt.
On the lender side of the spectrum, our team of consultants, in line with our commitment to provide best-in-class advisory, are ready at hand to help you optimise your application to get better offers as well as improve outcomes in approval.
Obtaining personal loans with the most favourable interest rates is the aspiration of all borrowers. With Lendingpot’s approach to loan matching, you’ll be on the receiving end of multiple loan offers and can make comparisons to choose the most suitable loan provider, based on their loan terms and conditions.
Whether it’s cost-effectiveness, efficiency or support, we take pride in the effectiveness of our platform in helping borrowers achieve their financial goals. Sign up today, using your Singpass Myinfo account to begin your application.
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