Getting The Best Deal Out Of A GrabTaxi Driver Loan
Since there are many different lenders offering such a loan, it pays to to carry out a comparison of what is on offer. You must look at the following points to ensure that they get the very best deal possible:
1. The Interest Rates
This is important because interest is the largest expense of any loan. The lower that rate is, the better. However, watch out for unscrupulous lenders who attract clients with very low interest rates but have other hidden charges that are exorbitant.
2. Charges And Fees
There will be several different charges that one must take into account. Such things as the loan processing fee, penalties for late payments and even a penalty for paying off the loan sooner than expected. Finding out what these charges and penalties are ahead of time is important.
3. Loan Tenure
You must strike a balance here. If the loan tenure is too short, then the monthly repayments will be high, but overall interest paid will be low. If it is too long, monthly payments will be smaller, but overall interest paid on the loan will be high. It is important to strike a balance between loan tenure and monthly payments.
Applying For A GrabTaxi Driver Loan With Golden Credit
The loan application process has been simplified for all. Applications can be done online after which you will be contacted with further details of the supporting documents required. You will then be required to make a trip down to our office to get the documents verified. Once the supporting documents have been verified, the loan will be disbursed immediately. This means that you will be able to have the money they need on the same day. Unlike banks and other financial institutions, there is no need to wait over long periods of time just for approval.
Even though you can get a good personal loan from any credit union or traditional bank in Singapore, most people prefer to go to licensed moneylenders for their GrabTaxi driver loans.