Money Lender

Cashmart – Your Trusted Money Lender in Singapore

We all have our share of tough times. And it’s even more difficult if we can’t find a solution to everything we have – especially the financial constraints.

Even if you have your emergency savings, financial problems will arise without you knowing it. And when that happens, you need to take quick action as soon as possible to avoid blowing it up further.

Fortunately, approved lenders like Cash Mart can forget about all your worries. When you need instant cash for a break or to pay your bills, Cash Mart is definitely your official money lender in Singapore. Know why.

Best licensed money lender in Singapore

Whenever you need it, Cash Mart offers the fastest cash loan; at your fingertips – wherever you are. Whether you need to quickly find extra cash to run your business, pay for the medical care of a loved one, or buy a brand new laptop for work, money always comes to the rescue.

Cash Mart’s goal is to ease the burden on its customers in times of cash flow crisis, with great rates, great service, awesome perks and perks. They have served over 50,000 happy customers to date and have earned a 9.5 rating in Google reviews. Apart from that, Cash Mart is also at the top of the A + Money Lender Classification created by trade publications in Singapore.

Cash Mart is also one of the few licensed lenders in Singapore that operates on a strictly independent basis and where customer information is completely confidential and is not released. As a licensed personal loan money lender in Singapore, they do not advertise or charge upfront fees for pre-approved loans via SMS, phone, or email.

Quick loan steps-

Cash Mart is always committed to providing fast, convenient and affordable loan solutions. There are three loans you can apply with; Payday loan (get your money up front), business loan (cash flow for your business), and personal loan (cash loan for everything, every time). The stages of the loan are:

STEP 1 Refuel online

Fill out their simple application form on their website. After 1 business day, Cash Mart will contact you.

STEP 2 Verify the loan

Cash Mart’s loan officers will check your eligibility and documents to make sure you can truly repay the credits.

STEP 3 Get credited

Sign the contract and wait for your cash disbursement.

SINCE 1969

Cash Mart prides itself on a reputation for integrity, honesty and excellence. As a Singapore based legal money lender sharing over 50 years of rich experience, they are well versed in market trends, fluctuations and legal processes on money lending options which has enabled them to providing an innovative and flexible loan option which has always ensured their clients a very affordable yet manageable low interest cash loan solution that is quickly approved and disbursed. Really, they’re still #alenderthatcares.

If you are looking for a well established financial institution in Singapore that is committed to giving people convenient access to credit in a fast and reliable manner; Singapore’s leading and most trusted Minlaw Authorized Money Lender – CASH MART – is your best bet.


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Money Lender

Your trusted money lender in Singapore

We all have our share of tough times. And it’s even more difficult if we can’t find a solution to everything we have – especially the financial constraints.

Read also | The future of electric vehicles is breaking through in Singapore

Even if you have your emergency savings, financial problems will arise without you knowing it. And when that happens, you need to take quick action as soon as possible to avoid blowing it up further.

Fortunately, approved lenders like Cash Mart can forget about all your worries. When you need instant cash for a break or to pay your bills, Cash Mart is definitely your official money lender in Singapore. Know why.

Read also | VO Chidambaranar Port in Tamil Nadu Sets New Record Handling Ship with Largest Package Size

Best licensed money lender in Singapore

Whenever you need it, Cash Mart offers the fastest cash loan; at your fingertips – wherever you are. Whether you need to quickly find extra cash to run your business, pay for the medical care of a loved one, or buy a brand new laptop for work, money always comes to the rescue.

Cash Mart’s goal is to ease the burden on its customers in times of cash flow crisis, with great rates, great service, awesome perks and perks. They have served over 50,000 happy customers to date and have earned a 9.5 rating in Google reviews. Apart from that, Cash Mart is also at the top of the A + Money Lender Classification created by trade publications in Singapore.

Cash Mart is also one of the few authorized lenders in Singapore that operates on a strictly independent basis and where customer information is kept completely confidential and not released. As a licensed personal loan money lender in Singapore, they do not advertise or charge upfront fees for pre-approved loans via SMS, phone, or email.

Quick loan steps-

Cash Mart is always committed to providing fast, convenient and affordable loan solutions. There are three loans you can apply with; Payday loan (get your money up front), business loan (cash flow for your business), and personal loan (cash loan for everything, every time). The stages of the loan are:

STEP 1 Refuel online

Fill out their simple application form on their website. After 1 business day, Cash Mart will contact you.

STEP 2 Verify the loan

Cash Mart’s loan officers will check your eligibility and documents to make sure you can truly repay the credits.

STEP 3 Get credited

Sign the contract and wait for your cash disbursement.

SINCE 1969

Cash Mart prides itself on a reputation for integrity, honesty and excellence. As a Singapore based legal money lender sharing over 50 years of rich experience, they are well versed in market trends, fluctuations and legal processes on money lending options which has enabled them to providing an innovative and flexible loan option which has always ensured their clients a very affordable yet manageable low interest cash loan solution that is quickly approved and disbursed. Really, they’re still #alenderthatcares.

If you are looking for a well established financial institution in Singapore that is committed to giving people convenient access to credit in a fast and reliable manner; Singapore’s leading Minlaw licensed money lender – CASH MART – is your best bet.


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Quick Loan

Need money fast? This Fast Loan Company Offers Same Day Financing

Mr. Payday offers online cash advances and payday loans for Canadians

Have you been refused a personal loan or don’t want to bother doing business with a bank? Have you had to file for bankruptcy? Or are you just strapped for cash until your next payday?

No matter how you handle your money, there are always times when you might need a little help. Life is complicated, and from time to time unforeseen expenses can arise.

Mr. Payday can help you stay on track until your next paycheck with a short term loan.

Mr. Payday is the leading Canadian provider of online payday loans. The Vancouver-based approved lender has been helping Canadians with short-term loans, bad loans and installment loans since 2002.

The best thing about Mr. Payday Online Payday Loan is that almost everyone qualifies.

It doesn’t matter who you are or why you need the money. The requirements are minimal and easy to meet. You can get approved for a loan and get the money you need even if you have bad credit, no credit, or past bankruptcies. The online loan is confidential. The prior agreement is between you and Mr. Payday and no one else is informed.

Mr. Payday is proud of his high approval rating. When the bank says no, Mr. Payday says yes.

In order to get a loan from Mr. Payday, you must be currently employed or receiving CPP, private pension, EI, WCB, CTC, or non-government disability benefits. Your monthly income should be over $ 1,100 per month.

Mr. Payday grants loans between $ 100 and $ 1,500. The maximum you can borrow is calculated based on your net income.

Need money fast? No problem. Mr. Payday loans are quick, convenient, and good for financial emergencies.

You can apply online or through a mobile app within minutes and receive your funds electronically within minutes of being approved.

You can apply for your loan in person at Mr. Payday’s head office in Vancouver. Just bring your bank statement from the last 60 days, your ID, a pay stub, and a voided check or direct debit form.

Repayment is also easy. On the agreed date, Mr. Payday will automatically withdraw your loan payment directly to your bank account.

Apply now for up to $ 1,500. Visit www.mrpayday.ca.


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Quick Loan

Beware of quick loan apps installed on your phone

The Covid-related downturns have hit personal finances and businesses extremely hard, with the idea of ​​’instant money’ at the click of your phone screen being enticing to many. Sensing blood, desperation, and heightened discouragement, loan sharks are now swimming in your devices disguised as seemingly legitimate financial apps to lend and borrow money.

But the inherent security of quick loan mobile apps has been called into question lately, and for good reason. Here’s why:

Reuters

Loans are now attacking digital ecosystems by promising instant cash to people running from pillar to post in the aftermath of the COVID-19 pandemic which has decimated businesses and made millions of people unemployed around the world.

While money lenders may seem benign and noble behind an attractive app interface, being wary of loan sharks may actually be a better idea for your pockets..

How Chinese loan sharks infested Indian markets

In 2020, China’s loan shark demands left a hole in the economies of many people in India who needed instant cash. In the wake of this unregulated incident, the Reserve Bank of India is developing new rules for digital lenders.

According to a report from the Economic Times last June, at least 50 apps at the time were incessantly harassing their users, many leading others to suicide, which led Google to remove 400 of these apps from its Play Store in January 2021.

Money lenders search for victims online in India
Unsplash

Most of the apps look legitimate and have names like Money Loan, Loan Paisa, Loan Udhaar, Go Cash, Money In Need, etc. – emulating the characteristics of a verified lender.

Amid high interest rates and endless harassment, delinquent debtors find themselves without a safety net when deadlines are missed. In many cases, such apps will resort to public sludge in the hopes of getting their money back.

Like physical loan sharks, digital money lenders operate by attacking the vulnerable and those in urgent need of financial assistance. While it may seem convenient at first, experiences like this turn into nightmares pretty quickly when due dates are missed.

In some cases, interest rates can reach 60 to 100 percent.

These predatory goals are achieved through incessant appeals and by making the details of the defaulter public by speaking to their private contacts..

When most apps are installed on your phone, they require child-like access – to storage, contacts, camera, and microphone. While it is difficult to determine which apps are using this data, such contact and unrestricted access to data can give them an edge when someone is not paying back their loans.

rbi's position on loan money application
Reuters

How loan sharks militarize your personal data

Where does the money come from, you ask? A MoneyControl investigation found that most of the money comes from high net worth individuals (HNIs) or foreign entities. Most of them expect the loan to be repaid within 7-15 days, with an average amount ranging from Rs 3,000 to Rs 50,000.

Who doesn’t want quick cash without the hassle of documentation? Trust us, you don’t!

Money lenders search for victims online in India
Unsplash

In fact, if a platform doesn’t require extensive documentation, that should be a clear red flag and you should steer clear of it. And while regular banks may require certain documents and preconditions for loans, interest rates are as low as 7-12% and your data will not be threatened.

Without any documentation, it is assumed that the money will be repaid on time, but this usually does not happen, especially with loans that have short payback windows. Your personal data is then extracted from your device instead of going through mandatory or KYC documents.

What happens next is the apps start their harassment campaign – they call the user first, then their close contacts. Basically – they want their money back, hook or crook.

Regardless of the well-being of users, digital spaces essentially codify the vulnerabilities that are part of physical lenders. Even so, some apps follow the proper documentation guidelines and source from a bank, while the “bad” ones basically have a dubious source of money and absurd interest rates.

Essentially, if apps don’t tell you where their money is coming from, they are most likely predatory and ‘illegal’ … in the sense that if things go wrong there is probably no way for you to get your concerns taken care of.

In fact, most instant moneylender apps intimidate the buyer with a downgraded credit score and trick them into taking out another loan to pay off the first one. And the vicious cycle begins at this point. Called “permanent greening” of loans, this practice is prohibited in India.

Money lenders search for victims online in India
Unsplash

The Dark Truth Behind Online Loans

The intensity of the situation became public after a series of suicides in the Indian state of Telangana, forcing authorities to catch the perpetrators who turned out to be foreign nationals. No less than 60 of these apps were operating illegally in Telangana alone, while 28 were operating from Karnataka.

Police said a slight increase in predatory loan applications was noticed after the first nationwide lockdown was imposed in March 2020 to slow the spread of COVID-19. And for other apps that you might have installed hoping to get a quick loan, be aware that if they don’t ask for official data, you are the data.

There are two types of lenders: shadow banks which themselves facilitate loans and agents who offer loans on behalf of these banks. The latter, however, may violate the code of practice. And the worst ? Most lenders don’t even give borrowers the full amount.

An issue that has plagued India for decades has gained visibility due to its digital nature.

Borrowers, here
Unsplash

While loan sharks who offer money in exchange for goods and personal favors persist in rural areas where banks have limited reach, their practices have been successfully replicated by call centers, most of which have been operating since. India and Indonesia and threaten borrowers.

Android users are at increased risk

Android users are at higher risk of such scams which mainly target users between the ages of 21 and 40. Not too long ago, a Chinese money lending app “MoNeed” leaked the personal information of more than 350 million Indian users to the dark web, or who knows what happens to their data.

The dark web is completely unregulated and considered a breeding ground for criminal activity by the authorities.

This particular app required a series of serious permissions, including enabling and disabling wifi, full network access, reading phone status, and changing the contents of a borrower’s USB storage among so many. others.

How to protect yourself when borrowing money online

1. Check if they are approved by the RBI to lend money. If the lender is not connected to a bank and does not have an NBFC license, it is most likely a fake.

2. Don’t fall for “quick loans” that claim to offer instant cash. Most of them have extremely high interest rates.

3. If the lender doesn’t care about your credit history, they don’t care about you. Instead, go to legitimate lenders and banks where not only is your data safe, but the interest rates are much more humane.

Need money ? Don’t worry, you can verify the lender and their credentials on the RBI website.

Hope you are now up to date with the subject of loan applications in India and the state of questionable money lending practices that you may unwittingly fall prey to. For more explanations on a wide variety of topics, continue to visit Indiatimes Explainers.


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Money Lender

Charges removed from properties of victims of illegal money lenders

The Financial Conduct Authority (FCA) has obtained a High Court order to remove hundreds of HM Land Registry charges, notices and restrictions registered against consumer properties by an illegal money lender Dharam Prakash Gopee.

The Financial Conduct Authority (FCA) has successfully obtained a High Court order to remove around 625 charges, notices or restrictions registered in the name of an illegal money lender, Dharam Prakash Gopee, from former companies.

This claim is the latest in several legal proceedings brought by the FCA against Mr. Gopee over his illegal money-lending activities. Gopee was sentenced in 2018 to three and a half years in prison for offenses under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000.

Between 2012 and 2016, Mr. Gopee acted as an illegal lender despite the OFT’s denial of a consumer credit license or obtaining authorization from the FCA. He loaned money to vulnerable consumers at high rates, securing the loans against their property, then sought to take possession if they didn’t pay.

Over the 4-year period, Gopee’s accounts showed that he had issued around £ 1million in new loans and received at least £ 2million in payments from consumers who did not know Gopee did. had no license.

During Mr. Gopee’s conviction on February 9, 2018, trial judge HHJ Beddoe noted that Mr. Gopee was aware of FCA’s serious concerns, but ignored them, deciding instead to “… deliberately flout the law” ignoring the fact that he had lost his consumer credit license, and struggling to enforce agreements he knew unenforceable but debtors did not. He continued to pressure debtors with demands for payment, threatening a lawsuit he knew could not be sustained.

In addition to this custodial sentence, Mr. Gopee received a Serious Crime Prevention Order (SCPO) in 2018, which was also the first time the FCA has sought such an order, underscoring the seriousness of Gopee’s conduct.

Mark Steward, Executive Director of Enforcement and Market Surveillance at FCA, said Gopee Offenses “Unauthorized lending of money is a criminal offense and causes serious damage, often to vulnerable communities. Mr. Gopee’s offense caused substantial harm to a large number of vulnerable consumers ”.

Steward continued, commenting on the benefit the High Court order removing the charges from the HM land register would bring, “The order obtained today will ensure that Mr. Gopee relinquishes Mr. Gopee’s hold over the property belonging to his victims, removing the charges, notices and restrictions he obtained in the exercise of his illegal activities and which he continued to detain ”.

Charges, notices and restrictions are registered in the name of the following companies, formerly under the control of Mr. Gopee but currently in liquidation: Barons Finance Ltd, Euro Business Finance PLC, Ghana Commercial Investments Ltd, Reddy Corporation Ltd, Barons Finance 1 Ltd, Ghana Commercial Finance Ltd, Barons Bridging Finance 1 Ltd, Pangold Estate Ltd, Moneylink Finance Ltd, Speedy Bridging Finance Ltd, Agni Estates Ltd and Pangold Investments Ltd.


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Money Lender

Is it possible to get a loan today from a money lender in Singapore?

The good news is that the answer to this question is “yes”. When someone wants To borrow money, it is generally safe to assume that they need the loan quickly. Many pawn shops in Singapore can announce a loan approval fast, but how fast is actually “fast”?

Find out how you can make the process even faster and easier for yourself.

How fast is it?

the best money lenders in Singapore allow you to start the online loan application process. This is usually done through a form on their website or by contacting them via email with your details.

A loan officer then assesses your loan eligibility, along with the relevant interest rate and terms based on this information. This process can be completed in a matter of minutes.

However, this only gives you provisional approval. At this point, the lender has no way of verifying whether the applicant has told them the truth.

This is important because the loan principal, interest rate, and loan term all depend on the applicant’s credit rating and income. This information can only be confirmed once the lender has the opportunity to verify the relevant documents in person.

The second part of the approval process begins when you visit the lender with these documents. Depending on the complexity of your financial situation, it can be completed in one hour or several hours.

The third and final step in the process is the money transfer. This step is almost instantaneous, whether you want to have the money in hand or have it transferred to a bank account.

Thus, in addition to the time it takes you to get to the pawnshop in singapore, you can certainly get your money the same day you apply for the loan. The total time between submitting a request and receiving the money can be as short as an hour.

Get your loan approved faster

The best scenario for loan approval in less than an hour is unsecured. Here are the top three factors that affect how long the process takes and what you can do to make it as fast as possible.

Have the correct identity papers

The first step in formal loan approval is to verify that the applicant is who they say they are. This prevents fraud when a person is struggling with a debt they did not ask for and where they did not receive money.

The most essential document to present is your NRIC or FIN card, but a passport is also acceptable.

Have the right personal finance documents

Just as important as establishing your personal identity is verifying your current financial situation. For this, you will need to present your recent bank statements (up to 3 months in normal cases) as well as the CPF tax and contribution statements. You may also need your SingPass for immediate confirmation.

Newly employed applicants must also submit a letter of offer or letter of employment from their employer.

Other documents may be required for different loans. For example, a debt consolidation loan involves other creditors and existing loans. You will also need to bring all the documents relevant to those debts that you are trying to consolidate into a monthly loan in Singapore.

(The approval of the debt consolidation loan depends on how quickly your current creditors share the relevant information with your new lender)

Be honest

One of the common mistakes people make when trying to To borrow money is to embellish the facts in their application. This may be due to embarrassment or an attempt to get a larger loan or better terms. The result is inevitably the opposite.

All the best money lenders use a very thorough verification process. If they find any inconsistencies between what you claim and what the record shows, they may be reluctant to continue. Forget the quick loan, you risk having your application rejected outright.

Regulation of the money lending industry has made it simple and straightforward to obtain a monthly loan in Singapore. By following the simple steps we have outlined above, you won’t just get your loan approved today, but maybe even within an hour!

Posted on August 7, 2021


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Money Lender

How to select an approved lender for a personal loan?

Emergencies come unexpectedly. You will probably need the money to deal with it. And you’ll find yourself in a bind if you don’t have savings. A quick personal loan is the only option available to you. But, the banks may not approve your loan immediately, and you cannot wait and spend time on the paperwork. Don’t be discouraged, because not all doors are closed yet.

You can take out a personal loan from a approved money lender if you have a bad credit history. The lender will approve your loan quickly and there will also be less paperwork. However, you will have to pay a higher interest rate on your loan. And you cannot trust every money lender in Singapore.

You need to look for the one that has a legal license. Here are some suggestions to help you choose the right lender for a personal loan.

Visit the Department of Justice website

Unauthorized lenders may present themselves as approved and convince you to borrow from them. You shouldn’t be scammed. According to the website of the Ministry of Justice, unlicensed money lenders can trick you into texting or messaging on WhatsApp. They will claim that they are representatives of lenders.

Report these messages to the police, as it is illegal in Singapore to apply for loans through text messages, phone calls, or social media platforms.

You can find the list of approved lenders on the Department of Justice website. This list is updated monthly. Check it out before visiting any lender’s websites for information on the terms and conditions of the loan.

Meet Money Lenders

No money lender will give you a loan without meeting you in person at an approved business location. Singapore law requires them to perform face-to-face verification of your identity and personal data.

You can take advantage of this meeting to ask your questions and remove your doubts. If you feel that a money lender can’t give a convincing answer, you’d better go no further. Borrow money from a lender who has nothing to hide and provides information.

Find out about the loan conditions

A personal loan is not free money. You will have to pay a large amount of interest until the end of the loan term. So, don’t rush into signing a loan agreement. First of all, you need to understand the terms of your loan.

Ask the money lender to explain them to you in plain language. Also get a copy of the loan agreement and go over it with a fine tooth comb. You should research the repayment schedule, the interest charged by the lender, and the applicable fees.

Select the approved money lender whose terms are not scandalous. And you shouldn’t have any trouble meeting its contractual terms.

Check review sites

Confidence is the key factor when borrowing money from lenders. You have to choose the one who has a reliable and trustworthy reputation.

All the lenders will tell you that they are the best and that they have a great reputation. Don’t take every word of their claims as gospel. You need to do your own research and verify their statements.

Visit review sites and read what others are saying about a lender’s loan terms. You will get to know the pros and cons of borrowing money from them. You need to select an approved lender who has received mostly positive reviews and a high rating.

Identify the right approved money lender

The right money lender won’t threaten you or use abusive language. They will treat you with respect. In addition, they will not ask you for your SingPass username and password and will not take away your NRIC card, driver’s license, passport or other personal documents.

When you borrow money, you don’t have to sign on a blank page or an incomplete loan agreement. You will get a complete and valid copy of the loan agreement. They also will not withhold part of the loan amount for no reason.

You will find advertisements from approved lenders in business or consumer directories or on their websites. You can also spot their listings inside or outside their business premises. They are not allowed to advertise in other places.

Final words

Always get a personal loan from a licensed money lender. However, you should check the loan terms and conditions, interest terms, and repayment schedule before signing a contract.


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Loan Provider

Exact loans at the same time – Direct lender Instant decision direct loans from the loan provider – Azerbaijan Intelligence

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If you need this loan in an urgent situation, our loans at the same time may be ideal for you. Many of us often find ourselves in dire financial straits, perhaps due to an unexpected bill or an urgent repair of an important home product.

This is why our exactly identical loans could be your day of solution. As the title suggests, a loan at the same time can be cleared in your bank account for fancy time passing, making it a quick and proper solution to a financial problem – from a responsible lender, same day. . that you are applying for.

Without any unnecessary waiting or waiting time for you to get your loan at the same time, a same day loan can be a great help for anyone in need of quick cash.

Unexpected circumstances trigger serious economic problems, and we are very happy that we can provide loans to clients at the same time to help their finances overcome the hurdles when you are watching the road so quickly and easily, as well as free economic benefits. advice and help to your customers who need it.

You’ll apply for a buffa loan at exactly the same time from the absolute comfort of your own home or on the go through our quick and easy application process – and you can relax knowing that our short-term loan money will be transferred to your bank account the same day if you are approved.

Ways to get a same day loan

Complete our simple same-day loan application

First of all, you will definitely need to tell us how much you intend to borrow and how long you will need to repay. We will then need certain information about you, including your contact details, income and costs, as well as your bank account details.

Complete our Simple day loan it’s the same request

First of all, you will definitely need to tell us exactly how much you intend to borrow and how long you will need to pay it off. We will then need certain information about you, including your contact details, your income and costs as well as your bank details.

Get a sudden choice

Find out immediately if your loan application at exactly the same time is accepted or not, or when we certainly need to do additional checks to be able to offer you your final choice. If we are able to provide you with that day which is the same at this stage, we will also make sure that it is perfectly clear what you are going to do. a payday advance Marysville Ohio must cover as well as every time.

Get instant choice

Find out immediately if your loan application at the same time is accepted or not, or if we need to perform additional checks to be able to offer you a final option. If we are able to provide you with this day which is the same at this stage, we will also make it absolutely clear exactly what you will need to cover immediately and at all times.

Determine what to do next

Then it’s up to you to decide how you want to proceed if we’ve informed you that we can offer you a same day loan based on your request, or that we need to do a few more checks before we can give you that final decision. is the case. Us to do some final checks against your request, it’s as easy as the click of a button if you are happy to accept our same day loan offer or wish to authorize it.


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Money Lender

“Government or money lender hungry for Hindi films?” “

Rahul Gandhi criticized the Center for the taxes levied on rising fuel prices, calling it tax extortion.

New Delhi:

Congress leader Rahul Gandhi today examined the Center about its tax collections on gasoline and diesel, asking whether it is a government or a “greedy money lender old Hindi movies?

His attack came a day after Lok Sabha was informed that Union government tax collections on gasoline and diesel jumped 88 percent to Rs 3.35 lakh crore in the last fiscal year.

Tagging a press article on the issue, Rahul Gandhi said: “On the one hand, they induce people to take out loans, on the other hand, they earn indiscriminately through tax extortion.

“Is it a government or a money lender hungry for old Hindi movies?” The former congressman said in a Hindi tweet using the hashtag “#TaxExtortion”.

Excise duties on gasoline were raised from Rs 19.98 per liter to Rs 32.9 last year to recoup gains from falling international oil prices to a multi-year low as the pandemic affected Requirement.

The same on diesel was increased to Rs 31.8 against Rs 15.83 per liter, according to a written response from Minister of State for Oil and Natural Gas Rameswar Teli in Lok Sabha.

This led to excise collections on gasoline and diesel which rose to Rs 3.35 lakh crore in 2020-21 (April 2020 to March 2021), compared to Rs 1.78 lakh crore a year ago , did he declare.

(Except for the title, this story was not edited by NDTV staff and is posted from a syndicated feed.)


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Quick Loan

Top quick loan applications for easy access to credit

Access to credit has remained a major problem, but the increase in technology-driven lending applications are opening up opportunities for finance, Tofunmi Sanusi reports

The impact of COVID-19 on the economy, including consumer loans, cannot be overstated. Various measures taken by the government to curb the spread and transmission of the deadly virus, including lockdowns, have resulted in the economy contracting, unemployment rising and disposable income dwindling.

Economic uncertainty has also affected the financial services sector. Credit institutions were initially cautious before committing to new credit facilities. A number of banks have reportedly missed the Central Bank of Nigeria (CBN) loan-to-deposit ratio of 65%.

Improving access to credit facilities for businesses and individuals could therefore be a necessary stimulus to increase economic activities in Nigeria. Analysts said this would strengthen efforts to recover the economy in the short to medium term.

To underscore this, Central Bank of Nigeria (CBN) Governor Godwin Emefiele said banks increased their total lending to the economy by 3.3 trillion naira in June of last year. According to the monetary policy document released by the regulator, the banks’ total gross credit rose from N15.56 trillion in May to N18.9 trillion at the end of June last year.

In line with the new realities brought on by the pandemic, strategies that promote contactless activities have continued to evolve within the financial services industry.

Banks, in particular, are among those that take advantage of advanced technologies and innovations to increase access to credit; and foster financial inclusion by pushing the boundaries of digital banking platforms and channels.

Euromonitor International Nigeria Consumer Loans report establishes that the size and structure of the market for ATM cards, chip cards, credit cards, debit cards, charge cards, ATM cards, Prepaid cards and store cards continued to grow in leaps and bounds.

Quick and easy loan application or credit processing is an exciting way of life in Nigeria. A quick scan of the credit market brings up the top five fast loan apps that are easily accessible and visible, according to Abimbola Yewande, a Lagos-based credit analyst who listed VULT of Polaris Bank, Carbon, PalmCredit, Branch and Renmoney, among the major quick loan applications.

VULT

Polaris Bank recently launched its 100% self-service digital solution, VULTe, to boost accessibility to quality banking services, as well as reduce barriers to accessing credit up to N5 million, for clients and non-clients of the Bank.

VULTe is a fully digital bank that offers individuals fast, convenient and reliable solutions to their banking needs. Some of its unique features include QR payments, end-to-end account opening and debit card application, issuance and activation, without customers leaving the comfort of their home, office. or where they are.

The platform isn’t just for Polaris Bank customers; non-bank customers can also download and enjoy banking services on VULTe.

Another key feature is VULTe’s Banking API, which allows merchants / businesses to integrate VULTe with other business critical systems, enabling a portfolio of services including risk assessment, requests for bank statements, lien accounts and direct debits.

Much more than an app, Polaris Bank Chief Digital Officer Dele Adeyinka explained that VULTe’s instant lending feature is a very unique innovation with which the bank is deepening the lending market in Nigeria, among many others. functions and benefits difficult to obtain elsewhere.

“VULT allows a customer and a non-customer of Polaris Bank to apply for and get instant loans within two minutes right in the palm of their hands, using your smartphone,” Adeyinka said.

To be able to use VULT, a prospect / client must be 18 years of age or older. The platform is also open to SMEs and businesses, and can be found and downloaded from Google Play and Apple store.

Carbon

Carbon requires applicants to provide their BVN to check their credit, before the loan application can be approved. Individuals can access up to N1 million.

Although the process is transparent and requires no paperwork, no guarantor or no collateral, Carbon does offer individuals cash back on the interest paid when loans are repaid on time.

The platform also allows individuals to pay their bills, invest and receive credit reports from financial institutions.

PalmCredit

Individuals in Nigeria can obtain loans from PalmCredit without providing collateral. PalmCredit offers low interest rates on its loans, making it an attractive and popular money lending platform in Nigeria.

It is only available to people 18 and over, and loan seekers can borrow as little as N 2,000 and N 100,000.

To qualify and receive a loan, customers must follow three simple steps to register a PalmCredit account, get approval, and then receive payment into their account. Every time you pay off a loan, your loan limit increases up to N 100,000.

Plugged

Branch is one of the best loan apps in Nigeria and unlike its competition it also works in other countries like Kenya, Mexico and India.

Its main USP is that as customers acquire credit with Branch, their loan limit also increases. All you need to do is apply through the app and get your loan approved within 24 hours. The branch does not charge any fees.

Customers are free to use the credit they get from the platform for whatever they prefer, as no official will ask them the purpose for which the loan is requested.

Renmoney

Renmoney is a very popular lending platform that financially supports micro, small and medium businesses.

To be eligible for a loan, a client must be between 22 and 59 years of age, have a verifiable source of income, and live or work in cities where Renmoney operates.

Individuals can borrow up to 6 million naira for a maximum period of 24 months. To be approved for a loan, a customer’s bank statement must prove that the loan could be repaid within the repayment period.

According to Euromonitor, a positive outlook for the Nigerian economy in terms of resuming the recession induced by COVID-19, has been predicted from this year. And that can pave the way for an increase in demand for consumer loans. The willingness of lenders to increase access to credit opportunities for individuals and businesses will therefore be of the utmost importance.


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