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Top 10 Personal Loan Money Lenders in Singapore

Many-a-times, it happens that you have the ambition and the passion to create something new, something different, to do something different from the league. You have the idea but to do not have the resources to implement it. It can be very difficult to convince the investors. And even when you convince the investors, they will obviously ask for equity in your project. They will want a share in all the profits. It can be helpful as they will share the losses with you as well. But the easier way out of the situation is to ask for money from the money lenders. In Singapore, a lot of money lenders are available in the market. In this article, we will be discussing the ones ruling the market i.e. Top 10 Personal Loan Money Lenders in Singapore.

Before deciding on which money lenders to opt for, you need to ensure that they are licensed. Check which money lenders provide minimum interest rates and the services provided by the money lenders is of premium quality. Frauds are always there in the market. So you need to be very careful about deciding which money lender to opt for. The list of companies enlisted below are licensed.

AP Credit Money

It is team of professionals which offer all types of loan i.e. personal loan, business loan, educational loans and all. The structure of the loan can be tailored as per the needs of the customer. Modifying the minute details is always an option. They are well known for their reliable and fast service. To contact the firm, you can call at 6533-5335.

Kairon Services

The company resides in the peninsular plaza in Singapore. They are one of the most renowned money lenders in Singapore. They provide loans for enterprises, residents and expatriates. They are conventional lenders, have been in the field for a long time now. You can contact the firm at +65 62621813.

GM Creditz

The loan provided by GM Creditz is a more flexible loan. They adjust the structure of the loan as per the requirements of the customer. The loan is credited to the customer in cash. The loan company has been rated as 4/5 by nearly every customer. The reviews state the company is reliable and trustworthy.

Credit Master

These are one of the most esteemed money lenders in Singapore. The company is known for 100% customer satisfaction and out of the financial solutions. The financial products supplied by the company are different from the league and have been majorly accepted by the people. Fast and affordable loans are offered by Credit Master. You can contact the Credit Master at 6748-1338.

Horison

Horison offers financial solutions to its customer which are majorly accepted and respected. They have been helping their customers with financial aids. They try their best to understand the needs of the customers and helping them overcome financial troubles. Debt consolidation is offered by the company. The company believes in speedy performance. You can contact Horison at 6844-2902.

Katong Credit

Katong Credit has been dealing with different types of people. The company has been offering financial aid to everyone. The interest rates offered by company are comparatively very less than the interest rates offered by the bank. The company will provide with quick cash. The eligibility criterion of the company is easy to pass. The company also provides foreign loans. You can contact the company at 6291-2210.

Singa Credit PTE LTD

The company was earlier known by the title Yong Seng Credit. It has been offering financial aid and solutions since 1992. The company is known for its honesty and premium quality service. It even provides financial aid on short notices as well. The loans are offered to people from all walks of life. The loans offered by the company are foreigner loans, bridging loan, personal loan and finally payday loan. You will notice that every customer has rated the company with at least 4/5 stars. You can contact the company at 6694-6166.

Quick Credit PTE LTD

The company is headquartered in IMM building in Singapore. The company has been providing financial aids since 2002. Individual needs of the customers are taken into consideration. With inflation, needs of every individual are increasing. And to deal with them , the earning member of the family has to work hard but sometimes you can opt for financial help offered by money lenders like Quick Credit Pte Ltd. It doesn’t matter for what purpose you need money for, be it for wedding or a family vacation, the company will provide you financial help. The company known for its reliability and efficiency. You can contact the company at 6899-6188.

U Credit

This company is known for its affordable loans. They are one of the most trusted money lenders in Singapore. The interest rate on the loan is decided as per the income and current financial conditions of the customer. They are so much confident with their service that they will help you compare their interest rates with other money lenders to make the final decision. They offer foreigner loans as well. Personal loan, education loan and business loans are offered by U Credit. You can contact U Credit at 6337-1768.

SE Investment Pte Ltd

And this is the last entry in our list of Top 10 personal loan Money lenders in Singapore. The loans are offered by SE Investment Pte Ltd are for permanent residents of the country as well as for the foreigners. The interest rates put forward by the company are acceptable. Repayment plans can be tailored as per the customer’s requirements. Premium quality service is offered by SE Investment Pte Ltd. Free quotations and financial solutions are offered by SE Investment Pte Ltd. You can contact at 6222-5855.

These are the major money lenders in Singapore. With this, we come to the end of the list of Top 10 Personal loan money lenders in Singapore. Before choosing any money lender, make sure that they are licensed.

Zero Based Budgeting

ZBB (zero based budgeting) can be explained as a rigorous process of budgeting and requires every expense to be justified even if it has been occurring for several years. It involves the re-evaluation of every factor of the cash flow statement and justifying every expense incurred by the department.

Therefore, ZBB is a method of budgeting in which all the expenses of a particular new period is calculated on the basis of actual expenses that are expected to incur rather than on incremental basis which includes increased expenses that incurred in previous years at a fixed rate. Within this budgeting method, every activity should be justified and every cost that generates revenue for the company should be explained.

ZBB (zero based budgeting) is a contrasting method to that of traditional budgeting practices which aim at the incremental change from current expenses and budget.it assumes that no balance will be carried forward or that no expenses are pre-committed. Literally speaking, zero-based budgeting is a method with zero prior basis and focus on identifying a task and then recording expenses irrespective of the current structure of expenditure.

Steps Involved In Zero-Based Budgeting

  • Identifying a task
  • Finding means to accomplish the task.
  • Evaluating all available solutions and evaluating sources of funds.
  • Setting priorities and budgeting numbers.

How ZBB (Zero Based Budgeting) Is Different From Traditional Budgeting Practices

Bases for Budgeting

Zero-based budgeting is a budgeting practice in which the current year’s budget is prepared with zero bases or from scratch. Traditional or incremental budgeting method requires preparing current year’s budget by making some changes in the previous year’s budget. The changes take place in the form of adding in or reducing expenses to the previous year’s budget.

Resource Allocation

In zero-based budgeting, budget preparation takes place by allocating maximum resources to activities that offer maximum benefit to the business. On the other side, incremental budgeting is undertaken without giving any priority to activities that are crucial for business and the previous year’s budget is adjusted by considering inflation rate.

Wasteful Expenses

As ZBB (zero based budgeting) is prepared from the scratch, any allocation of resources to activities will be based upon cost benefit analysis and risk reward ratio. In this way, any wasteful expense is avoided. In case of incremental budgeting, wasteful expenses are a part of the budget. The inefficiencies that are present in the processes are ignored and only the increment in cost becomes a part of the budget.

Innovative

Through zero-based budgeting, innovation can be promoted in the business. Since the budgets are prepared from the scratch, it gives business leaders new ideas to innovate for reducing their operational cost so that the allocation of resources can be justified. Traditional budgeting methods lead companies to have a conservative thought. Because the budgets are nearly same every year, chances of innovating in the business are very low. Zero-based budgeting has a very dynamic nature.

Training

Business managers require having special knowledge and skills for preparing zero-based budgets. A well-qualified and professional person has the ability to prepare this budget. Conversely, traditional budgeting methods are easy and can be prepared easily by managers. They do not have the requirement of any special training or knowledge and any department can make the budget.

Advantages of ZBB (zero based budgeting)

  • Efficiency: Zero-based budgeting allows for efficient allocation of resources as historical numbers are ignored and actual figures are considered.
  • Accuracy: As against regular methods which bring in minor changes in previous year’s budget, ZBBB calls for every department to consider every item in the cash flow statement and then compute its operational costs. This also gives an opportunity for cost reduction and provides an understanding of incurred costs as against desired performance.
  • Reduction in wasteful activities: ZBB (zero based budgeting) looks for identifying opportunities and a more cost-effective manner of making things done by eliminating every unproductive or wasteful activity.
  • Budget inflation: As every item requires justification zero-based budgeting overcomes the weakness of budget inflation in incremental budgeting.