Can I change and replace my existing Guarantor to another person for my Hire Purchase with UOB personal loan?

As stated in the Letter of Offer, you have to give the Bank three months’ written notice to redeem your loan or pay three months’ interest in lieu of notice. You should appoint a lawyer to act for you in your loan redemption and to provide the date for completion. The Bank will appoint its lawyer to act for the Bank if your lawyer is not on the Bank’s panel. The lawyers will handle the legal documentation for the discharge of the mortgage and release of the title deed. Please check your Letter of Offer for any applicable fees/refunds to be made to the Bank. Please also note that all legal fees including fees for the discharge of mortgage are to be borne by you. During the redemption process, the Bank will provide only one preliminary statement to your lawyer three weeks before the completion date and one final redemption statement on the actual day of completion. Any subsequent requests for additional redemption statements or changes in completion date will result in additional fees being imposed. Please note that you are required to serve a fresh notice to the Bank if your loan is not redeemed upon the expiry of the three months’ written notice. Please note that the Bank will not accept any request for capital partial prepayments after they have received your notice of redemption. Any capital partial prepayment notices received prior to the banks receipt of your redemption notice will be treated as cancelled. The Bank’s final claims may include any unpaid insurance premium and related borrowings such as credit card overdue amount. Your cashier’s orders for your full settlement must be received by the Bank before 10am on the day immediately after the date of completion otherwise additional interest will be payable. For a completion date that falls on a Friday before the weekend or the eve of a public holiday, you may arrange with your solicitor to provide advance written authorization to the Bank to debit from your designated account. This will avoid payment of additional interest accruing over the weekend or public holiday. If your credit facilities or loan is fully paid-up, you may wish to engage a lawyer to discharge your mortgage with the Bank. Otherwise, please note that there is an annual custody fee payable for Title Deeds that continue to be kept with the Bank.

Your interpretations are correct but we can look deeper into its characteristics. A bond has a face value which is the amount the bond will be worth at maturity and the amount the bond issuer uses when calculating interest payments. A bond has a coupon rate which is similar to interest rates. A bond shouls always have a maturity date which is self explanatory. Probobly the most important characteristic is the issue price which is the original price the issuer sells the bond.

An inescapable path to becoming a successful investor is to learn how to become a lifelong student. Learn from other investor's success and mistakes. Learn how they made the money, not how they spent it. Place value on value, buy assets that you know are underpriced and sell them for a higher value. Always have healthy Skpeticism which is very hard to acquire as the world is full of malice. Lastly but not the least is to sharpen your analytical ability as being able to analyze what is going on is very crucial to becoming a good investor.

A bond is debt instrument that a government or a company issues to raise money.. Bonds are low-risk, stable and predictable investment. Investors earn from this because the investors act as a lender and the government acts as the borrower.

At first it might sound lika a hoax but since this is Singapore where possibilities are limitless. There is a company called Circles.Life that offers a free sim only plan. Their plan includes 1GB of data, 30min talk time and 10 SMS every month for S$0. This is perfect for someone who just needs a sim card for emergency purposes or someone who needs a line so they can be reached but does not use their phone much. TPG also offers one which includes 2G of data/day but you can;t use it for calls and SMS.

Those with an annual income of less than S$20,000 may borrow up to S$3,000 from all moneylenders combined and those who earn more thanS $20,000 a year may borrow up to six times their monthly income from all moneylenders combined. Meanwhile, for foreigners residing in Singapore, a lower aggregate loan cap of S$1,500 will be imposed on those who earn less than S$10,000 annually. Foreigners who earn between $10,000 and $20,000 a year can borrow up to $3,000, and those who earn at least $20,000 can borrow six times their monthly income.