Notes to Borrower
Making Smart Borrowing Decisions
Borrowing can be helpful, but it comes with responsibilities. At Unlimited Finance, we encourage you to borrow wisely and understand your rights and obligations. Before applying, ensure you have considered all financial options and have a clear repayment plan.
Be a Responsible Borrower : Stay In Control
To ensure a stress-free borrowing experience, follow these key principles:
- Borrow only what you need, not more.
- Read all loan agreements carefully before signing.
- Make payments on time to avoid extra fees.
- If facing payment difficulties, inform us early for possible solutions.
- Keep loan-related documents organized for future reference.
- Create a budget and stick to it for better financial stability.
- Borrow only what you need and not more.
- If you don’t understand something, call us or your licensed money lender or visit our office.
- Make regular, scheduled payments.
- If you are having a problem making a payment, let us know earlier or talk to your moneylender right away.
- Open all your email and read everything pertaining to your loans.
- Keep all your loan documents in a file.
- Make a budget and stick to it. Your financial planning will be worth a few sacrifices along the way.
Your Rights as a Borrower
As a borrower, you are entitled to transparency and fairness. Here’s what you should expect:
- A clear repayment schedule with details on interest rates and fees.
- The right to defer repayment in special circumstances, if eligible.
- The ability to prepay your loan early without penalties (as per agreement)
- Before you begin repayment, your licensed money lender holder is required to give you a repayment schedule and detailed information about interest rates, fees, the balance you owe and available repayment options.
- You have the right to defer repayment for certain defined periods, if you qualify for a loan.
- You may prepay your loans in whole or in part at any time without penalty as indicated in your agreement.
Your Responsibilities as a Borrower
Borrowing comes with responsibilities to ensure smooth repayment and financial security:
- Repay your loan on time as per the agreed terms.
- Our team will explain all loan terms in detail before fund disbursement.
- Notify us if you change your personal details (name, address, phone number).
- Inform us immediately if you’re unable to make payments to explore solutions.
- Your primary responsibility is to repay your loans according to the terms and conditions of your loan agreement.
- Our customer service officer will explains in details of the loan agreement before receiving loan funds.
- You must make payments on time, or make other arrangements with us before the due date.
- You must notify your money lender if you change your name, address, phone number.
- You must notify your money lender if you are unable to make payments for your loan in Singapore.
