In Singapore, it’s relatively common for someone to take a personal loan from a bank. For some, it could be a way to feed a financial habit, while for others, it’s part of a carefully thought-out plan to fund an item or activity they might not have the liquid cash for.
These are a few common reasons Singaporeans apply for personal loans and the pros and cons that come with them.Source:Unsplash Say you renew your COE for another five years, most loan quantum offered by banks should be able to cover this, allowing you to “spread out” your loans over five years. Currently, where COE prices are at about S$100,000, this could be worth considering.Sometimes, going on a holiday is something you may want or need to do to recharge. Most middle-income Singaporeans take one to two vacations a year, and some take personal loans to fund their trip.
However, when it comes to second-hand goods, that kind of arrangement usually doesn’t work. Transactions are often done using cold hard cash or via bank transfer. Hence, by choosing a loan with a one or two-year tenure, you are essentially buying the second-hand item on an instalment plan and paying a justifiable amount monthly.Singaporeans can be enticed to indulge in gambling, be it horse racing, casinos or soccer betting. However, this also means we require more funds to support this habit.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
“Dangerous uncle” manoeuvring himself in wheelchair down a road sparks debate among Singaporeans - Singapore NewsSome were concerned about the uncle, some called out the uncle and some cited issues with the pavement the uncle suppose to be on.
Source: IndependentSG - 🏆 2. / 72 Read more »
Singapore netizens debate if money equals happiness - Singapore News“For me, I think it really depends on each person. I'm rather content with my life right now even though I'm not wealthy but as long as my family is healthy, I'm happy,” the netizen added.
Source: IndependentSG - 🏆 9. / 63 Read more »
Netball Singapore welcomes MiRXES as new title sponsor for Nations Cup - Singapore News“Healthcare is the most important element of our lives, and with 2023 being a big year for us, we’re grateful to have MiRXES here to support Singapore netball,” expressed Charmaine Soh, national netball goal shooter
Source: IndependentSG - 🏆 9. / 63 Read more »
3 best trading platforms with low cost feesSingaporeans are relatively familiar with stock markets. According to a poll by Milieu Insight, 52 per cent of Singaporeans aged 16 and above have some investment in stocks or equities. This does not come as a surprise as Singaporeans are becoming more financially literate and choose to invest in stock markets in order to generate long-term wealth. While most Singaporeans...
Source: asiaonecom - 🏆 10. / 59 Read more »
Active ageing centres, employment schemes part of updated plan to help Singaporeans age wellThe 2023 Action Plan for Successful Ageing hopes to address evolving needs and aspirations of current and future seniors.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
National plan to help older Singaporeans live well as they age and work longerBy 2030, it is estimated that one in four people here will be aged 65 and above. Read more at straitstimes.com. 'includes efforts to keep older people employed for a longer time' 😱😭 Hahaha!!! If I believed this, I am an idiot! come up with some Solid policies in really helping them not just policies that neither here nor there.
Source: straits_times - 🏆 5. / 69 Read more »