Licensed Moneylender 4% Interest in Singapore: What Does It Actually Cost You?
If you have been comparing licensed moneylenders in Singapore, you have probably seen one number repeatedly: 4% per month. That is currently the maximum interest rate a licensed moneylender may charge. But what does 4% per month actually mean in dollars? Does a S$5,000 loan cost S$200 every month? Is 4% charged on the original […]