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Anonymous
Need a loan to fund my investments
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Siow Nan
16 Jun 2019
E at NUS
Any loans less than a month..
for those longer loans, you can choose to pay a heavier interest penalty and risk your credit rating if you fail to pay your monthly repayments.
the only loan that might work without interest would be FML. Aka Father Mother loan
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Gabriel Tham
16 Jun 2019
Tag Team Member at Kenichi Tag Team
The loan u described is called loan from family or friends. If they agree, u can pay back at the end...
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If you consider that credit cards are loans, in a way, then you might just have an interest free solution. Besides credit cards, you won’t find any other type of loan free of interest.
If banks gave everybody money, without earning something from the interest rates, they wouldn’t bare the name bank.
Alternatively, you can try licensed moneylender (You can find a full list of licensed moneylenders on the Ministry of Law's website) it's speedier (30 minutes you can get the loan), faster and easier approval (they don't care if you've poor credit standing). The only downside is the higher interest rates.
But should your investment prove to yield high returns, you'll be able to pay off the loans in no time :)