It's easy to get a loan, but it's difficult to get the best legal loan. Choosing a legal lender cannot only make sure you can get the loan in time without any property risk, but also means that you may find more lower and safety loan. There are many ways to borrow money, but there is a shortcut to help you identify the legality of a money lender--the lows of the loan in Singapore.

To get the best legal loan, you should know the types of loans. There are two types of loans one is an unsecured loan, the other is secured loans, which include guaranteed loan, mortgage loan, hypothecated loan. And there is no money lender if the money lender not asks any credit or guarantee. The rate of the loan may be more highly than the others.

Now there are six different types of loan, you can find if the money lender asked you for more fees that have out of the range, you can identify the legality of the lender. If the time of the repayment is late, the money lender has the right for an extra fee. If the cheque issued by the borrower has over the amount of the money should repay, the borrower should responsible the extra money. If there are some problems of the GIRO that the lender cannot get the money in time, the borrower should pay the cost.

To get the best legal loan, you should also pay attention to the loan interest rate. There is also some change on the loan interest rates. If your annual income less than $30,000, the rate of secured loans is 13% and unsecured loans are 20%, if your income more than $30,000, you can consult the interest rates with your money lender.

Once you have met these things, you can ask help from the National Registry of moneylenders. But to make sure you have kept all the documents with the lender, which can be a good evidence.