Money Express

FAQ

Below is a list of commonly asked questions by clients

Q: I am a foreign tourist, am I eligible to take a loan?
A: No, a foreign loan is granted only for persons with registered local address, hence visiting tourists are not eligible.

Q: What is the maximum loan amount I can take?
A: This is dependent not only on client’s assessed ability to repay, but also importantly, on his or her annual income.

Q: Can I take out a loan together with my wife, husband, or friend?
A: Yes, this is possible.

Q: What is a payday loan?
A: A pay day loan is granted on a 30 day basis and repayed once the borrower receives pay.

Q: How do I know if my moneylender is licensed?
A: A licensed moneylender possesses a registration number.

Q: How can I borrow twice my monthly salary?
A: Your annual income needs to fall between $20 000 to $30 000.

Q: How can I take up a loan that is 4 times my monthly salary?
A: Your annual income needs to be at least $30 000.

Q: I need to take up a loan for significant renovation expenses, is there a limit?
A: Yes, the loan amount you are eligible for is dependent upon your annual income. A joint loan with a spouse is recommended.

Q: I need to take up a loan for wedding expenses, is there a limit?
A: Yes, the loan amount you are eligible for is dependent upon your annual income. A joint loan with a spouse is recommended.

Q: I need a loan for defraying medical bills, is there a limit?
A: Yes, the loan amount you are eligible for is dependent upon your annual income