Jewellery can be said to symbolise feminitity, sophistication and often, social status.
Jewellery pieces in Singapore vary in costs that range from hundreds to several thousands of dollars.
The cost primarily depends on factors such as the type, size and quality of the jewellery. Considering how valuable, different kinds of jewellery are, it is not surprising to discover that jewellery pieces can be expensive.
What Is A Jewellery Loan And How Can It Help Me?
Many individuals might find it challenging to purchase valuable pieces because they lack the funds.
This is precisely where a jewellery loan comes in as an excellent and viable solution. A jewellery loan is a personal loan specially designed to finance the purchase of jewellery.
Eyeing a piece of jewellery but unable to purchase it due to financial constrains? A jewellery loan can be incredibly helpful!
Jewellery loans from licensed moneylenders usually have less stringent criteria and a streamlined application processes. Working with a credible lender to apply for these types of loans makes it easier to get funding quickly and buy the piece of jewellery that you want.
Taking Out A Cash Advance On Your Credit Card Vs. A Jewellery Loan
Everyone knows that getting quality jewellery is not cheap. You can easily spend thousands of dollars on a specific item or diamond that you have been eyeing.
This can heavily put a dent on your fiannces, which is why you need a cost-effective way that will enable you to finance your purchase.
Some people use credit cards when buying jewellery, but this may not always be the best option. This is especially so if you do not have enough cash to pay the entire bill.
Paying the minimum sum is not enough as interest rates can be very high when dealing with credit cards. No one wants to pay a large amount of interest along with rising debt.
If you have found the jewellery that you wish to purchase, a jewellery loan can help you pay for it. These personal loans get tailored to cater to people who wish to purchase jewellery but need help with upfront payments. A jewellery loan makes it possible for you to pay for items over time.
A jewellery loan can make sure that your finances are not negatively affected when you buy jewellery. Applying for a loan assures you of being able to get the cash that you need as quickly as possible.
Why Do Singaporeans Invest In Jewellery?
People may purchase costly jewellery as a strategy for securing their wealth. A valuable jewellery piece is not only beautiful; it can also be a worthwhile investment.
In April 2017, a 59.6 carat vivid pink diamond broke the record of being the world’s most expensive diamond. It was auctioned off for £55.4m (S$98,259,538).
Jewellery pieces such as earrings, bracelets, rings and necklaces are generally small and light, which means that they are portable and can be stored easily.
2. Status Symbol
Several people purchase jewellery as timeless pieces that symbolise their status within society. With the extra disposable income to spare, some Singaporeans might find it worthwhile to invest in jewellery, as a symbolic status.
Jewellery can serve as a tangible investment that is not restricted by time, fashion or trends. You can wear and use it for as long as you wish to as it appreciates in value. There are prospects of being able to earn a considerable amount of money when you decide to resell your jewellery in the future.
Precious stones and valuable metals get widely accepted around the globe due to their value. It is the reason why some people choose to invest in pieces that they can use for trading purpose. Depending on the value of the jewellery, it can become a form of currency.
Jewellery pieces are among the investments that can get sold relatively quickly. Converting your jewellery to money involves factors such as knowing its value, pricing it correctly, being aware of your options and being ready to let it go if it has sentimental value.
Jewellery continues to be a vital aspect of the fashion world as a valuable accessory. Individuals can use jewellery to decorate and enhance their ensemble on different occasions. Pieces usually get chosen according to outfits and the desired appearance.
If you are not planning to sell your jewellery now, you are at liberty to wear style it as an accessory that you can add to complete your outfit. Aside from looking great, you may also be adorning yourself with a historical piece such as vintage piecesa and heirlooms.
Different religions use a variety of symbols that get included in jewellery pieces. This type of jewellery can be useful for celebrating religious occasions like baptisms. It can also help depict a person’s status, role or position within a particular religion. Other pieces can get worn because they have a significant meaning or serve as a constant reminder of your beliefs.
Jewellery can get purchased as a gift to commemorate a special occasion, express feelings or acknowledge a particular accomplishment. Jewellery is a popular choice for showcasing how special your loved ones are. It gets widely used to symbolise personal relationships. For example, rings are symbols of committed couples.
Looking To Invest In Jewellery? Here Is What You Can Consider:
The value of materials such as gold can make jewellery a good investment along with the long-term trends that are associated with their rising worth.
Different types of jewellery come from gold, including chains, rings, necklaces and watches. You can decide on any form of gold jewellery according to your taste and preference. If you are purchasing gold jewellery as an investment, it should be something that you can enjoy wearing and keeping before reselling it.
Diamonds get used in the creation of different types of jewellery. These include necklaces, chains, watches and much more. Diamonds continue to be very popular within Singapore because they have always gotten regarded as symbols of wealth, status and power.
3. Various Gemstones
Various gemstones are popular among Singaporeans, including sapphire, pearls and emerald stones. Different stones are valuable because of their significance in terms of what they symbolise and mean within a cultural and historical context.
Here Are Some Reasons Why 1AP Capital’s Jewellery Loan Stands Out
1. Lower Interest Rates Compared To Credit Cards
Jewellery loans are generally linked to lower interest rates in comparison to credit cards.
These loans also offer flexible terms that enable you to determine how much you can afford to pay in instalments every month. It ensures that you do not disrupt your finances while paying for the jewellery.
It is important to note that spending within your ability will reduce the time it takes to pay back the loan as well as interest to make the loan more affordable over time.
2. Fast And Simple Application Process
Traditional lenders such as banks typically have lengthier and stricter application processes for loan applications.
With a jewellery loan from 1AP Capital, you will be able to have your loan approved within 24 hours. This way, you will be able to have fast access the cash you need to buy your jewellery.
3. Affordable And Flexible
Loans through banks and credit cards can be expensive because of high-interest rates.
A jewellery loan can give you an affordable and fast way to finance jewellery.
Flexible repayment schedules prevent you from straining your financial situation. Repayment schedules can get personalised by selecting loan amounts and tenures according to your circumstances.
4. Allows You To Keep Your Savings For Emergencies
If you have been admiring a particular jewellery piece, using your emergency savings to purchase it may not be a wise idea. You can use a jewellery loan to fund your purchase and avoid using emergency funding that can be better set aside for a rainy day.
It’s Simple To Apply For A Jewellery Loan With 1AP Capital!
Require additional funding to purchase the jewellery that you have been eyeing? With 1AP Capital’s personalised jewellery loan, you’ll be able to purchase your jewellery comfortably and with ease.
All you have to do is apply online, confirm your details and receive the cash!
Apply for a jewellery loan with us today. Alternatively, you can also speak to our friendly loan officers to find out more about 1AP Capital’s jewellery loan.