SINGAPORE, Jan. 6, 2022 (Globe Newswire) — Cashmart Singapore, a leading name in the lending industry, today announced that it has acquired controlgreed.com, a leading online financial resource for struggling individuals and families.
Controlled Greed aims to inspire its readers to have stable financial resources and to work for their financial flexibility and freedom.
This acquisition is an important step forward for Cash Mart, as it aspires to add more value in the financial arena especially in Southeast Asia.
Cash Mart Singapore’s goal is to set aside space for financial literacy such as budgeting, savings, responsible borrowing, facts about licensed money lenders in Singapore, and investing in undervalued stocks.
Additionally, some content will focus on typical and global investments such as net working capital, low price-to-earnings (P/E), and book value discounts.
It also deals with getting legal payday loans, small business loans, interest calculations, and searching for the best loan product for every need.
Cash Mart Singapore hopes this site will serve as a guide for anyone looking to better understand their finances because the website name refers to Warren Buffett’s famous words, “You must be moved by controlled greed and fascinated by the investment process.”
Money works in Singapore
The Singapore government has set strict standards around the money lending industry. This is to ensure that the rights of both borrowers and lenders are protected.
Unlicensed money lenders have high interest rates and have notorious collection practices. They are called loan sharks or ah long.
They deceive and trick people into signing loan contracts with unfair terms and conditions.
On the other hand, licensed lenders are expected to have competitive interest rates and more flexible payment terms. They are required to explain the loan agreement in terms that borrowers can easily understand.
Additionally, if you are taking out an unsecured loan or loan without collateral, the lender will have to base the loan amount on what the lenders law allows.
Permanent residents with annual income of no more than $20,000 can obtain a loan of up to $3,000.
This is the maximum total loan amount they can borrow from all licensed lenders. Suppose a permanent resident borrows $1,000 from licensed lender A, then licensed lender B can only lend up to $2,000.
Permanent residents with an annual income of more than $20,000 can take out a loan amount of up to six times their monthly income.
If the users are foreigners, they can still get a loan from a licensed money lender. You can get the maximum loan amount of $500 if you earn less than $10,000. If your annual salary is more than $10,000, you can borrow up to $3,000.
Since the loan amount, fees and expenses are highly regulated, it keeps the competition high for the industry and gives borrowers more choices.
About cash mart singapore
Cash Mart Private Limited (CMPL) is a licensed and reputable money lender with a growing list of loyal clients over the past 50 years.
More than just a lender, Cash Mart aims to be a financial partner that provides a personalized customer experience with flexible loan products.
Headquartered in Balester, Singapore, Cash Mart is one of the country’s leading lending firms specializing in providing customized loans to Singaporeans.
Brand: cash mart singapore
Address: 277 Balestier Road, Singapore 329726
Tel: +65 6397 4111
source: cash mart singapore