When one speaks of gold, there are so many individuals out there who would look at investment value right away. The same is also true for the use of jeweler manufacturing. Needless to say, most people have to understand that there is almost an 11% gold demand in the industry. This only shows that the call for 400 tons is vital. Aside from this, there is also a diverse range of applications for gold in most industries annually. The reason for this may be attributed to the fact that there has been a unique combination of properties that are irreplaceable in nature.
More about Gold
Here is the thing – gold comes with an extraordinary thermal and electrical conductivity. This only makes it suitable for electronic uses including contacts and wires. Gold has always been ductile. It is malleable and it is also worn resistant. With that said, even a small quantity of it may go a really long way. This is why to use it can be profitable in nature.
Since it goes with a good corrosion resistance, it would be free from tarnish. This is why it is safe even against other kinds of oxidative processes. The only downside of such is that it can be a really soft metal. Since it works like that, it has to be allowed so that it becomes a stronger metal. Among the right combination of it are nickel, copper, and silver.
The most integral aspect in which gold has a big contribution on is electronics. It is dubbed as an efficient conductor. Such means that it is highly reliable when it comes to relay contacts and switch. The same is also true for wire and strip connectors. It is known as a fact that every sophisticated electronic device comes with a small amount of gold. This is true even for GPS units, cellular phones and TVs. Gold is also utilized in laptop and desktop computers, in most connectors and microprocessors. It may also be found on memory chips of the motherboard and other sorts of metals which is done so that durability may be increased. It may also be in lubricant between most mechanical parts since it has always been friction-resistant.
Another industrial department highly affected by gold is glassmaking. The glassmaking industry also features gold because of its pigment as its primary important ingredient. Basically, even just a small amount of it may provide a beautiful red color for glasses. This is why it is often seen on glass surfaces, most especially as a coating. What is even good is that it is the best when it comes to controlling climate for most buildings out there. It would reflect the radiation of solar outward and inward when heat is concerned.
It cannot be denied that gold has been heavily used for most industrial purposes. As this is the case, it has to be preserved and reserved because it has been running low lately. Good thing, there are specialists who would claim that gold may actually be recycled. Let us wait and see.
While it is the most developed for the last couple of decades, the economy is Singapore continues to grow. This is true as compared to other countries which still face issues with the recovery of precious metals that has almost hit all-time highs. This is when unwanted silver, gold, and estate jewelry become useful. If your property comes with such, you are lucky indeed! As a matter of fact, this can be a chance to bank a loan as an option for your possessions.
However, here is the issue – with the wide array of options available out there for you, where is the right place to sell or borrow? Prior to making a decision, there are tips you must discover so that you succeed in this estate of gold and silver. What are these?
What to Remember in Handling Gold, Silver and Estate Jewelry
Understand the process. You are no longer required to know the exact value of the jewelry you are about to sell. But then, it would still be a good idea to have a realistic and general idea about the worth of your piece. This is a way so that you can have a background of the transaction which is about the take place For instance when it comes to gold jewelry, an appraiser is most likely going to quote the price of yours based on the weight of the gold. This is indicated in karats. Even the current market price is to be determined too.
Get appraisal in person. Here is the truth – there are so many online jewelry companies out there. They would advertise their online and you are going to make business virtually. If it is your first time, you are discouraged to do this just yet. In order to assure that you will be satisfied with the appraisal and the amount that is about to be offered to you, you should only secure computation from a reputable appraiser. It must also come from an established jeweler.
Look out for as many appraisals as possible. When you have already stumbled upon jewelry stores or pawn shops, and you have prospects in mind, it would be a smart move to shop around as many as you can still. If you can have it appraised in more than just a location, that would be much better. There are firms which are educated in doing this anyway.
Examine the fluctuation of the market. The truth is that the price of silver and gold changes a lot. It does on a daily basis because of many factors. This may be because of market demand, financial markets, and manufacturing supply. Needless to say, it is crucial to understand the price quoted for a piece would apply to the day in where the piece is also appraised.
These kinds of possession are always going to be an asset to you. With that said, you should know how to utilize it accordingly. Take note of this and make use of yours wisely!
The media has always been a great platform when it comes to obtaining the information you need. This is true most especially for investors who want to be a part of a certain field. Needless to say, the future of the stock market depends upon gold. This is one of the reasons why you must learn about the best ways to invest in gold. With this type of knowledge, you may carry the procedure with ease.
Once you have decided to invest in gold, here are some of the options you may select from. Please see what may work best for you:
This implies to you owning the metal yourself. Gold bullion is usually the most appropriate selection here. There are many investors out there who run so that they may obtain a share of this bullion. The value of this gold and other precious metals can be translated through bullion. What makes this even more interesting is that there is no way this can be changed by the government. Do not get this wrong though. This does not promise easy money, but it can ensure that the value of the dollar may be held. The worth of this may be decreased every day.
Gold Exchange-Traded Funds
This ETF in gold is considered to be a mutual fund which speaks about the deals found in stock exchange. The portfolio involved in here is somehow fixed. This shows that it will never be oscillate. Basically, it goes around two main ETF’s. If you want to locate them, you may have to use the symbols “IAU” and “GLD.” These are all going to offer ways so that it will become easier to hold a bullion investment portfolio,
There are individuals out there who just do not want to handle metals directly. However, they may want to be a part of the gold investment industry. As this is the case, mutual funds may be a feasible choice and option for them. This enables them to invest in stocks which are all about gold mining companies. Their stocks are usually high. People may see this as a great way to invest in gold most especially that the value may escalate each day. The same is also true with the value of gold company stocks.
Junior Gold Stocks
Junior Gold Stocks are usually the best for risk takers out there. Basically, there is a high potential for great gains in terms of this. The same is also true when it comes to equal chance of a big loss. Even if this is the case, individuals in the option may own big mines, indeed. Even if this transpires, the capitalization is just small. Who would not want this?
There are still tons of buying options as far as the aforementioned is concerned. The future of this market is not that hard to foresee. To look at the market charts maybe a way so that you may plan how you can purchase your gold.
There is good news about same day loans – there are lenders out there who can provide 24/7. This is just right considering that emergencies are unpredictable. Most people are usually unprepared for them. As this is the situation, you are going to lose if you do not have money at hand. As for individuals who do not have theirs, it would not hurt to apply for a same day loan. There are tips in order to be successful in this.
How can you become triumphant in this?
Here are some of the tips that you can follow if you want to win a same day loan. Please consider them:
Write a list of lenders
Before starting, it is ideal to have a list of good lenders. As a matter of fact, it would be way easier if you research and take down notes of service providers. Doing this will make you relaxed in the process. You will not have a hard time if only you will go online. Just enter the personal information in order to obtain the results you eye for.
Go for the long terms
Once you are ready, check on the terms and conditions of the company you are to work with. It would help to look at them even before you apply for the said financing. Even the payment terms have to be looked at. There are instances when interest rates and hidden fees are included too. This is also a chance for you to know how the payment must be. Look at the fine print for this.
Know how you can use the loan
In order for you not to have a hard time, discover how the loan works. Knowing this is a chance for you to set expectations. For so many times, approval is earned fast with short-term loans. However, the big difference is that they come in high interest. The access to this type of loan is the best solution for individuals with bad credit scores. This is a solution to abrupt need of cash.
Give correct information
Prior to your application, you must ensure that you double check and proof read all your documents that have your personal information. There are times when the processing might be delayed even in the slightest error in the application. You will not allow this to occur of course. Always remember that the loan is usually granted based on the information you submit.
Indeed, a same day loan is a chance for people with bad credit to improve their standing. This is going to happen for as long as they become vigilant in settling their payment. Just go along the method without any problems at all. The reason of the lender must be pretty understood. Looking at these tips will be the answer to the approval that you are seeking for. Do not hesitate to check on them so that you are guided accordingly. Research on various companies for your farther knowledge!
Non-institutional financing that provides loans are referred to as licensed money lenders. They are the answer sought by people in need of quick money. Basically, they have become popular for the attractive interest rates they offer their clients. This can be the answer if you are in search for help.
If you plan to become a borrower, it is your obligation to check the reputation of the company you are about to work with. This is too important not to be given attention. As a matter of fact, you can always do some research so that you may find money lenders who can be of your great advantage. This is going to take place most especially if you fund for real estate investment project.
Perks Provided by Licensed Money Lenders
Deciding to go for money lenders can be life-changing. If you are not yet aware of its possible advantages for you, these are some that you may want to jot down:
- Quick Approvals: There is no denying that this is one of the major perks of transacting with licensed money lenders. Consequently, there are investors out there who can give approval for just one, to two days. This may happen upon the submission of necessary documents by the lenders.
- Adjustable Payments: In terms of working with a private lender, there has always been freedom to the creation of a customized repayment plan. This is unlikely to transpire if you are teaming up with a really established financial institution which normally sets their own payment terms. Agreeable terms may be discussed this way.
- Easy Requirements: In a loan application which comes from a traditional financial institution, you will be bombarded by a handful hard-set requirements. Among these are experience, and income history. You will also like a needle in a haystack to seek bank approvals. You do not have to go through this with a money lender.
- Non-penalty: When you get a loan from an established bank, there is a possibility that you may have to face prepayment penalties during its maturation date. There are flip, and fix lenders that are not going to charge penalties. This is why if you will derive some extra cash, you have to decide paying off your loan first even prior to the due date. You can do this without worrying about penalties.
- Bad Credit History: Most big lending institutions look at bad credit history so much. This has an impact on the approval of the applicant. If you find the right private lender, this is given less emphasis. The weak credit history you have will not matter anymore.
Indeed, to get some assistance from financial money lenders is not a bad idea at all. If you feel the need to contact one, you should take time in finding the right company for you. This is going to work if you are still clueless about the right agency to be with. Take time with your research to end up with the right lender!
Personal loans are dubbed as general purpose loans which can be obtained from a financial institution or a bank. As the name suggests, the amount of loan which can be employed by the borrower is for “personal” intentions. These may include unexpected expenditures such as home improvements or repairs, hospital expenses, consolidating debts, among others.
Aside from the fact that a personal loan is a mere test for borrowers, being qualified will only happen upon meeting certain requirements. What are the integral factors important to gain approval for this type of loan?
Factors to Consider
Here are some of the points you have to look upon if you are gearing towards seeking approval from a lender:
- This type of loan is unsecured. This means that you will not be obliged to put up an asset or collateral in exchange for an approval. It is not necessary to receive the loan. With this reason, the loan becomes quite a hard catch because it is a big risk for the lender. But then, the lender is given the chance to make some actions like filing a lawsuit if you failed to pay.
- There is a fixed amount of loan. The personal loan is computed based on the income of the borrower. With this, the transaction history of the client is given a closer look. The credit rating is also too important to not check. There are chances when banks decide to have a pre-fixed amount instead. This may happen too.
- The interest rates are also determined. They are fixed for the entire duration of the loan.The amount of it must be disclosed to the borrowers so that they are guided properly. This is different with pre-fixed loans because they are from credit ratings. There are also loans out there in which the interest rates vary.
- The period for repayment is always fixed too. Personal loans are not long-term. You are most likely to be given 6 to 12 months to settle the money borrowed. This can happen if the money provided to you is only in small amount. As this is the case, it should not be surprising that the interest payouts are relatively high. These are the differences you have to know.
- Availing a personal loan may have a drastic effect on your credit scores. This occurs because lenders report details of loan account to credit bureaus. This is done to monitor the credit rating of a person. If there are defaults seen on monthly payments, the credit rating of the individual will surely be affected. Be aware of this consequence!
- Be careful of lenders who are willing to approve loans for individuals with a bad credit history. Yes, they may mean well. However, there are times when they scam people into paying upfront commissions only to end up with nothing in return. Do not just trust a company or anyone without doing your research! This is a way to ensure that you do not fall victim to tricks!
When looking for a personal loan for foreigners in Singapore, there are a few things you should take note before approaching a moneylender. Generally, when comes to private moneylenders, they provide money for interests which leads to severe issues as well at sometime. However, on the other side, you can borrow money at reasonable interest or without interest by following the various government agencies. If you are really in need of money, then you can easily contact the representatives of agencies regarding the rules and conditions at anytime. When it comes to licensed moneylenders, you can make a good bond between them for its contract.
Key things to keep in mind
- It is one of the essential things for the borrowers to keep it in their mind before going to visit the moneylenders. One must know that most of the agencies will be providing different schemes for the people. So, it is important for the people to keep it in mind while approaching the money lenders.
- Make sure about the contractual terms along with financial status and income stuff. So, if you are really in need of borrowing the money, you must be strong when comes to financial wise. For your information, if you are missed to pay as per the terms and conditions, you will be in a pressurized situation. Moreover, because of you, your family may face the issues along with you.
- Before approaching for the loan, you should be aware of all the conditions allotted by the agencies. Make sure that you aren’t forced to borrow money for favourable terms. If you are 100% satisfied with the terms and conditions of agencies, then you can proceed further.
- One more thing that you should keep it in mind is, know completely about the contract details in the agreement before approaching for the loan. It is always important for the people to check from top to bottom. Once you are agreed to the contract after reading all the terms and conditions.
Getting more details about the moneylenders are always important for the borrowers to know. There are many moneylenders available in the market but one should verify that the moneylenders are licensed. Most of the licensed moneylenders are seeking for the original proof’s Xerox copies for the verification process. So, it will be important for the borrowers to look at this stuff before getting the money.
Follow the rules after granted loan
- After granting load to you, make sure that your allotted amount of a loan has been granted as per rule or not. Most of the agencies will deduct 10% of the principal amount from a granted loan.
- To avoid last-minute payment, you can pay your loan in an installment which will help you to pay peacefully without any strain.
- While paying your loan back to the agencies, you should receive all the receipts for each pay and as an evident of payments of your loan.
These are the main things that you should follow if your loan is granted as per the rules and conditions.
There are so many stories concerning loan shark harassing borrowers and moneylenders in Singapore. Some loan sharks even present themselves as licensed moneylenders to potential borrowers. Even then, it is important for individuals to seek for reliable licensed moneylenders.
Potential borrowers in Singapore need to ensure they do not fall prey into one of the loan shark traps. There are actually some simple ways for you to ensure you are getting a loan from a credible and accredited lender.
Here are some important pointers that will guide you so as to ensure you are borrowing safely.
Loan Application Process
Reliable and accredited moneylender will have a simple process when processing loan applications. According to the law, a moneylender needs to make clear the terms and jargon used for a loan. This needs to be clear to you, the borrower and easy to understand.
You also need to be extremely careful concerning certain mistrustful behavior as well. This may include:
- The use of offensive language
- Not being issued with a copy of your loan contract
- Being asked to sign incomplete loan agreement or a blank page
- Being asked to present SingPass ID and your password
- Holding of any personal papers (including work permit, driver’s license, and NRIC card)
- Being offered a loan without any checks being done, such as over SMS, approving online, over the phone, or email
You need to note that a Credit Bureau (MLCB) for Moneylenders exists. This bureau keeps information on borrowers’ loans and their repayments record with the licensed moneylenders. This is intended to assist moneylenders to assess a borrower’s creditworthiness. You can also request a copy of your credit record from them as well.
Confirm Their License
Singapore has by now 170 certified moneylenders and each is registered with the Law Ministry. Do not accept to take out cash loans from any moneylender who is not on this list.
There are set limits as to how much ready cash loan a licensed moneylender can offer to a potential borrower. For unsecured loans- those without security- you can take:-
- Equivalent of $3,000 when your yearly pay is below $20,000,
- Equivalent of 2 month’s pay if your yearly wages is above $20,000 but below $30,000,
- Equivalent of 4 months’ pay when your yearly wages is below or over $30,000 but less than $120,000;
- Any loan amount, when your yearly pay is $120,000 and above.
When you realize that the moneylender you are dealing with is ready to offer you a loan above the authorized guideline. then just know something isn’t right. Do not take out a loan from such a lender.
Licensed moneylenders are also expected to follow the interest rates limits. This is in addition to the set loan limits. Effective 1 October 2015, moneylenders are to charge a maximum of 4% a month in interest rates. When a borrower fails to pay their loan installments in time, the moneylender is permitted to charge a fee. This late interest fee is charged monthly for every month the repayment is made late. And it is capped at 4% a month.
The late interest amount only applies to the loan amount that a borrower has not yet repaid. For example, if you took a loan of $5,000 and you have already paid $3,000 in good time, the licensed moneylender will only charge the late interest fee on the outstanding $2,000.
Other fees that licensed moneylenders are can charge are given below:
- A fee not more than $60 for every month a borrower makes late repayment;
- A fee not more than 10% of the principal amount granted; and
- Court ordered legal costs for the recovery of the loan and successful claim for the moneylender.
Statement of Accounts
Once you have received your loan, it is advisable to ensure that the licensed moneylender delivers the correct amount you’ve borrowed. Bear in mind that in having a loan agreement shows that both the moneylender and you are bound by the said contract. Therefore, they need to follow its terms and deliver what was promised too.
When it’s time for you to reimburse the loan, you have to ensure that the accredited moneylender gives you a receipt. The receipt should have the correct date, show the correct cash amount that you have paid, your name, a signature and the moneylender’s stamp. You also need to get a semi-annual statement of account. Of importance is that you retain all these documents and statements as proof of all the payments you will have made.
When you encounter any mistrustful behavior or when a moneylender does not adhere to the stipulated guidelines set by the Ministry of Law. You need to get in touch with the Registry on 1800-2255-529 or you can email them at OneMinLaw@mlaw.gov.sg. You can be guaranteed that the Singaporean registry will not reveal your identity. This they can only do without your consent. Nonetheless, they will require that you go to an interview session. It is a good idea to attend as you then collect the relevant information. This will also facilitate the carrying out of a thorough investigation.
It is not advisable for you to take out loans from unlicensed lenders. This will be risking you and your kins lives. And in specific, consider their loan shark methods of debt collection.
Every Tom, Dick, and Harry think they know something about something today. This is all good and fine if you’re debating the Yankees season or how to get rid of a rat problem, but not when it comes to your finances. Whether you are looking for advice on personal or business finances, you should always approach or use only legitimate sources. Your drunk friend at the bar or the psychic at the carnival do not qualify.
If you want advice, go to these places:
Banks and their consultants are trained, qualified, and know what they’re talking about. They will be able to give you good advice on financial management, business start-up, debt counselling, saving, investments, etc.
Registered Financial Service Providers
Registered financial providers are usually legitimate organisations or individuals who can help people with loans or other monetary solutions. Before you approach one of these organisations, do your homework and find out if they have a good reputation.
By accredited, we mean that the writers have some legitimate knowledge and experience within the finance field. They should be open about their qualifications and you can check their credentials online. There are many finance blogs that are very helpful and legit; you just need to find them.
Friends or Family
If you have a loved one who works in the financial world, ask them for advice. They may not necessarily be able to help with your specific problem, but they will have good contacts. They will be able to put you in contact with the right people who can help you.
Any other place that is not on this list may be very detrimental to your financial health. You don’t want to play around when it comes to your finances, so, stick to the legit sources.
If you are looking to start your own business, we have a few simple tips to share. Starting a business today is much easier than it was ten or twenty years ago. The finance side of things still ticks pretty much the same, but the things surrounding the finances have become a lot easier. So, have a look at our very simple and easy to follow advice.
- Do a lean start-up – Today, you don’t need a huge capital saved up to start your business. You can simply start small and build as the business builds. You can start with a few people who perform functions that are central to your business operations. All your advertising and marketing can be done online for a fraction of the cost of traditional advertising. There are so many ways to get the word out and get people to know about you, that you will be on the map in no time. You don’t need a big office space or a full staff to get started.
- Outsource – If you are in need of a specialist for a short time, don’t hire someone on a permanent basis. Rather outsource that position to someone who can work with you on a consultation basis. These consultants often have years of experience with a company and started their own business when they felt the time was right. They also work with many different clients and types of businesses and will have unique insight into business finance and related fields.
- Hire a professional – To get things started, consider hiring a professional to handle your finances and get you on the right track. A professional financial advisor or manager will have a lot of knowledge and experience that you may not have. It will be worth the cost to get things started on the right foot.
These are quick and common sense points, but they are important. If we had to add one more thing, it would be to stay on top of your finances always. Be involved and know what is going on even if someone else is managing the finances. Follow these tips and you should be heading for a good start.