Moneylender

Credits, loan and the members who award that

Money is something, which is more important and plays a major role in our lives. The money was invented a very long time but it is in existence till now. Since the money is transforming to several states while the power is same. Money is not just a paper but used to help in case of emergency. The term credit came after this money. Credit means the money is given to you in advance and it should be refunded before specific period of time. Several banks provide credits in their account and the used amount should deposit to the particular persons in 15 day period of time. Simply, credit is the trust or a belief on one person who lends to the person who borrows’ it. These credit amounts are given by several money lenders or by banks. Money lenders are the persons who provide credits with high interest rates with respect to banks. Money lenders have their own capital and their method of approach of regain is different from bank. They provide high interest rather than banks and make the person to fall in debt trap. Loans came from the word credit.  The refundable time for loan is large when compared to credit. As the credit payable on demand, the loan is paid in installments. Several banks provide easy monthly installment to the customer requirement. The money lenders behave in harsh manner to get money.

Main difference between the banks and the money lenders

Bank is similar to money lenders. When the capital from individual is known as money lenders, while the capital from others known as banks. Many licensed money lenders provide in cheap interest similar to banks. In Singapore, JEEFLEE CREDIT – Singapore licensed money lenders provide several loans at low interest. Similarly, SKM Credit Pte Ltd – Trusted money lender in Singapore provide loans in few minutes. JR Credit – Preferred money lender in Singapore makes new types of loan and provides the customer in case of emergency. Apart from these banks, others introduce new loans such as medical and foreigner loan to help the customer. Many banks have personal advisers while taking loans. The interest on banking is always low when compared to money lending. The banks offers loan in ethical, responsible and polite, while the money lenders in rough and harsh manner. Several banks provide loans in 10 to 15 minutes, whereas the money lenders cannot do so.