Once the fast approval loan has been verified, ensure that the legal money lenders grant you the proper amount of loan requested and received approval for. An authorised money lender may only deduct a loan approval charge of not more than 10% of the principal amount in advance.
Simultaneously, make certain that the money lender issues a receipt for each repayment made and that you obtain a statement of account for each of your loan(s) at least once every January and July. In both circumstances, double-check its accuracy (date, name, amount, and interest rates).
Keep all statements of receipts of accounts and payments, such as proof of documentation and payments, on your end. Finally, complete your loan instalments on time to avoid late interest and late payment fees.