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Blk 846 Yishun Ring Road #01-3661

All you need to know about licensed money lenders in Yishun

on May 31, 2021

Singapore has consistently topped the world’s list of safest cities for decades. Yet, there are pockets within the country that have been in the news for crime and, unfortunately, Yishun is one of them.  Licensed Yishun money lenders such as R2D Credit are actively working to rebuild the local community and its reputation.

About Yishun

Population

Home to almost a quarter of a million people, Yishun is one of Singapore’s largest planning areas by population. 

Connectivity

Located at the centre of Northern Singapore, Yishun is well-connected to the rest of the country through the Yishun Integrated Transport Hub. This includes the Yishun Bus Interchange and three MRT stations – Yishun, Khatib, and Springleaf.

Finance

All of Singapore’s major banks have a presence in the area. There are over 10 bank branches, as well as many ATMs of:

  • DBS
  • Maybank
  • OCBC
  • POSB
  • UOB

There are also a number of licensed money lenders in Yishun, including R2D Credit.

Property

Yishun has emerged as somewhat of an unlikely property gem. The latest HDB data reveals that it is the region with the fifth-highest number of flats but the third-highest number of resale transactions, which is indicative of outsize popularity. 

Combined with an appreciation in median property prices, Yishun has proven itself the most promising investment neighbourhood in Singapore.

Industry

Not as urban as much of central Singapore, Yishun is an attractive option for businesses that require extensive space. Yishun Industrial Park is home to major multinational corporations, including Philips, ATS, Murata, and Agilent.

Northpoint City is North Singapore’s largest shopping centre while Wisteria Mall and Junction Nine are the region’s two other major malls. Chong Pang City and Yishun Park Hawker Centre offer a wide range of dining choices.

Leisure

Yishun hosts the SAFRA Yishun Country Club, Orchid Country Club, Seletar Country Club, and HomeTeamNS Khatib. These clubs offer members a wide variety of leisure, sporting, and dining activities.

There are 3 major parks in Yishun: Yishun Park, Lower Seletar Leisure Park, and Khatib Bongsu Nature Park. Apart from them, there are over a dozen smaller parks in the region. The Yishun Park Connector Network links neighbouring green areas and the Yishun Swimming Complex.

Residents also have access to Nee Soon Sports Centre and Yishun Stadium and Sports Hall. Together, these facilities make for a welcoming, green environment conducive to a healthy lifestyle.

Money lending in Yishun

Yishun, unfortunately, made the headlines a number of years ago as one of the regions of Singapore where crime was most prevalent. Among the most rampant illegal activities was loansharking. One of the chief reasons for that statistic was the lack of competent legal money lenders in Yishun at that time. 

 

Since then, R2D Credit has extended its wide range of services to the local population, offering an attractive combination of low rates and generous terms. We are especially considerate of clients who may be struggling financially due to an irregular employment record. 

 

Our flexible policies cater to borrowers who have limited financial options after being turned away by banks due to bad credit scores. We strongly advise everyone against resorting to illegal money lenders. R2D Credit may be able to extend you the loan you need but within a safe and reasonable legal framework.

Recent incidents

A report from 2018 noted that there were 232 individual reports made to police about illegal money lending activities in Yishun North alone. The bulk of this comprised intimidation and harassment regarding outstanding debt. These were the highest figures in all of Singapore.

 

In late 2020, the police broke up a mid-sized illegal betting operation in Yishun. In April 2021, a pan-island operation against illegal betting resulted in seizures of cash in excess of $1.2 million from several homes across Singapore, including one in Yishun.

Precautionary measures

Illegal money lenders operate in a way that sometimes makes it difficult to distinguish them from legal lenders. Look out for these signs of an illegal vendor:

 

  • Advertises on chat apps such as WhatsApp
  • Has no physical office
  • Offers loans without you asking
  • Demands pre-payment of ‘GST’ and similar fees
  • Approves a loan without a face-to-face meeting

 

Remember only to consider a Yishun licensed money lender like R2D Credit when you need a loan. Our strict adherence to the law gives you the safety of government protections, reasonable interest rates, ethical repayment schedules, and complete privacy.