Ang Mo Kio is one of Singapore’s oldest neighbourhoods, so much so that even the origin of its name has become shrouded by the veil of time. The region is well-served by no less than seven international banks. Ang Mo Kio Central money lenders such as Galaxy Credit give local residents another layer of financial convenience.
About Ang Mo Kio
Ang Mo Kio currently hosts 50,000 dwelling units, which is almost 90% of its peak projected capacity of 58,000. Over 160,000 people live here, making it the ninth most highly populated region in the country. It ranks tenth in terms of population density nationally.
Ang Mo Kio is connected by rail through the Ang Mo Kio and Yio Chu Kang MRT stations. A further three stations will be operational before the end of the decade. Ang Mo Kio MRT station is connected to the Ang Mo Kio Bus Interchange while the Yio Chu Kang MRT station is adjacent to the Yio Chu Kang Bus Terminal.
AMK was the first region in Singapore to introduce both a grid-like road network and a numbered street naming system.
Given its large population, it is no surprise that you will find branches of every major bank in Ang Mo Kio. However, many of the smaller financial institutions operating in Singapore also maintain a presence here:
- Bank of China
- State Bank of India
- Sing Investments and Finance
- Singapura Finance
If you are in AMK and thinking, “Is there a licensed moneylender near me?” Yes! Residents can also find alternative finance options in Ang Mo Kio money lenders such as Galaxy Credit.
AMK may be an established estate but it continues to enjoy widespread popularity as a home location. The site of a 99-year leasehold residential project here sold in May 2021 for $381.4 million. It was reported earlier that month that two HDB units in AMK sold for more than $1 million each.
Until the Urban renewal Plan launched in the 1970s, AMK was largely an industrial region and home to many motor workshops. The end of that decade saw government investment in a combination of residential and industrial infrastructure.
Licensed moneylenders in Ang Mo Kio
In a 2016 analysis of crimes in the 35 neighbourhoods that make up Singapore, Ang Mo Kio South ranked 14th while Ang Mo Kio North came in at 22nd place. Statistics show that AMK South reported an average of 234 incidents annually between 2012 and 2016 while its northern neighbour reported 284.
Despite the wide range of financial services available here, non-licensed Ang Mo Kio Central money lenders continue to plague the region.
From the crime figures above, it is clear that Ang Mo Kio remains a relatively crime-free zone. However, the spectre of unlicensed Ang Mo Kio money lenders is not negligible. In the first half of 2021, there have been several incidents of loanshark harassment that were serious enough to make the news.
They occurred in the form of unsolicited food deliveries, which is a common tactic used by illegal money lenders in Ang Mo Kio to intimidate and unsettle their debtors. Unfortunately, because of the ineptitude of these unscrupulous lenders, these stunts often end up targeting the wrong homes.
Meanwhile, the number of loan scams reported more than doubled between 2018 and 2019 to 1,772. Victims lost in excess of $6.8 million with the largest single case accounting for $195,000. Some of these were the result of borrowing from non-licensed moneylenders in Ang Mo Kio.
Galaxy Credit is a licensed and well-respected money lender in Ang Mo Kio. We provide a vital alternative to traditional loans for local residents.
If you are in AMK and wondering, “Is there a licensed moneylender near me?” get in touch with us. We offer fast, understanding service, competitive rates, extended repayment terms, and the advantage of dealing with an established Ang Mo Kio Central money lender.