6 Reasons Why You Should Consider a Furniture Loan In Singapore

Nothing beats having a home or office space all to yourself. You are free to design and decorate it however you like and create your own safe haven where you can be inspired to be productive or relax. When it comes to designing your oasis, furniture plays a huge part, but there are also several nitty-gritty details that are extremely important. For instance, you need to ensure that you have running electricity and water and that the basic construction of walls, doors, and flooring are built well. After those checks are completed comes the fun part of picking the general theme and decor of your space. If you are not confident in your interior designing skills, definitely hire an interior decorator so that you will be sure to get the space of your dreams. A huge part of interior design and decor will have to also be the furniture that you pick out. Not only do they need to cater to your needs, but also the needs of people who might drop by. Things like comfortable chairs, spacious drawers, and cabinets as well as sturdy but chic tables are just some pieces that can entirely transform your space. However, furniture can cost a bomb and drain your savings; the good news is that you don’t have to compromise on your dreams just to save money. 

Get the house or office that you desire by taking up a furniture loan. This might sound risky and unheard of, or even unnecessary, to some but there are actually many benefits that come with it. Here are six benefits of getting a furniture loan in Singapore. 

1. You Can Get the Loan Money Immediately

Forget waiting for banks to process loans as this can take way longer than expected. If you are short for time and need to buy furniture for your house or office soon, look no further than licensed moneylenders in Singapore. After reading the fine print, you can collect your loan almost immediately and start shopping for all the furniture you need. Fret not if this is the first time you are hearing about furniture loans as the process is relatively simple and you just need to do your research and find moneylenders that offer the lowest interest rates. Not to mention that you can get your furniture immediately if you opt for same-day delivery and already have a shopping list in mind.

2. It Makes Moving Easier

Reduce the hassle of having to choose which old furniture you want to keep from your old house or office. With a furniture loan, you will have the freedom of buying completely new products and decor. This will make moving so much easier as you can save on transport costs for your old pieces of furniture. What’s more, you need not look for storage units for your old furniture while your new place is being renovated; simply chuck them away and start shopping right away. Your new furniture will be ready for you and moving in will be a much more relaxing and less troublesome process if you already have a layout in mind. 

3. It Boosts Your Credit Score

Besides getting you what you want and need now, furniture loans are great for future planning as well. Taking out a loan is common when it comes to purchasing cars or other personal reasons. You’ll never know when you might need a loan to cushion your spending and saving accounts, and paying your installments on time for your furniture loan will improve your credit score as lending institutions will know that you are trustworthy. Although credit cards affect your credit score as well, furniture loans might have a greater impact depending on how much you decide to borrow. 

4. Good Interest Rates

Obtaining loans may seem daunting to some due to high-interest rates, but the good news is that you can easily procure furniture loans with reasonable interest rates. You can have your cake and eat it with amazing furniture and a relatively manageable loan. Interest rates can depend on the loan tenures that you opt for such that shorter ones have lower interest rates. However, fret not if you have to opt for a longer tenure as paying a lower amount on a monthly basis gives you more leeway to manage your finances so that your savings remain stable. Be sure to do ample research on the many lending institutions in Singapore and consult them on your loan plans so that you can select the institution that caters to your needs the most. 

5. Improved Decor

Creating an amazing environment to work and live in is highly underrated. Many do not know the importance of picking out good decor pieces as they can heavily impact people’s mood and motivation. For new homes, good furniture can brighten up your mornings and provide the comfort and solace you seek after a day at work. On the other hand, splurging on nice furniture pieces for your office space can further motivate your employees and give clients a fantastic impression; spurring them to come back and recommend other people. With a furniture loan, you can let your imagination run wild and buy pieces that will suit your theme and vision best.

6. Flexible Payment

Take the stress off paying back your loans while relishing in your newly bought furniture with flexible payments. Many lending institutions in Singapore allow people to pay their loans back in manageable monthly installments. With flexible payments, you can easily plan your finances on a monthly basis and take note of the amount you have to put aside while meeting your other needs like groceries, bills and transport fees. 

Furniture loans are meant to aid new homeowners and business owners in designing their space. Even if you are someone looking to redecorate your home or office, furniture loans can work in your favor as well. Just be sure to consider your current loans and the state of your spending and savings accounts; ensure that you have the means to pay your loan in a timely fashion and you will be all set to procure one and hit the furniture shops right away. 


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