Money makes many things. Money is something, which is more important and plays a major role in our lives. The money was invented a very long time but it is in existence till now. Since the money is transforming to several states while the power is same. Money is not just a paper but used to help in case of emergency. The term credit came after this money. Credit means the money is given to you in advance and it should be refunded before specific period of time. Several banks provide credits in their account and the used amount should deposit to the particular persons in 15 day period of time. Simply, credit is the trust or a belief on one person who lends to the person who borrows’ it. These credit amounts are given by several money lenders or by banks. Money lenders are the persons who provide credits with high interest rates with respect to banks. Money lenders have their own capital and their method of approach of regain is different from bank. They provide high interest rather than banks and make the person to fall in debt trap. Loans came from the word credit. The refundable time for loan is large when compared to credit. As the credit payable on demand, the loan is paid in installments.
The money lenders are different from banks
Bank is similar to money lenders. When the capital from individual is known as money lenders, while the capital from others known as banks. Many licensed money lenders provide in cheap interest similar to banks. The low interest licensed moneylender in Singapore provides several loans at low interest. Several banks provide easy monthly installment to the customer requirement. The money lenders behave in ransom manner to get money. Similarly, the ethical licensed moneylender in Singapore provides loans in few minutes. The moneylenders offers loan in ethical, responsible and polite, while the banks in immediate manner. The legal low interest moneylender in Singapore makes new types of loan and provides the customer in case of emergency. Apart from these moneylenders, others introduce new loans such as medical and foreigner loan to help the customer. Many lenders have personal advisers while taking loans. The interest on money lending is always low when compared to banking. Several banks provide loans in 10 to 15 minutes, whereas the money lenders in ethical manner. The bank provide loans in a low interest but the moneylender provide in hand to hand and the interest is also in moderate rates.