With so many amazing lenders on the market, finding the best licensed Singapore money lender to suit you can be difficult. This dilemma is the last thing you need during a stressful situation, which is why Moneylender Review is here to help. 

Let’s take a look at the top licensed money lenders in Singapore and what they offer to businesses and individuals looking for that perfect instant loan.

Keep reading to find out more, explore our site to browse our expert articles and reviews or check out Moneylender Review’s quick and easy loan application form today.


Our Picks and Reviews of Best Licensed Money Lenders in Singapore

A1 Credit SG Pte Ltd


License No: 24/2021

What we like: A1 Credit is a great option for fast, friendly customer service – especially if you need quick personal loan disbursement, too. Personal loans can be also used for debt consolidation. What’s more, the moneylender has been in business since 2009, which means it has an excellent reputation as one of the top licensed moneylenders in Singapore.

Special features:

  • Flexible payment plans
  • Highly rated for customer service
  • Great location near Clarke Quay
  • Excellent short-term loan options available


  Good to know:

  • Borrowers with bad credit ratings can still apply
  • For business loans, the company must be operated for at least 1 year.


Read Review Apply Now

365 Credit Solutions Pte Ltd


License No: 20/2021

What we like: If convenience is important to you, 365 Credit Solutions might just be your perfect match. The company is open 7 days a week and you can drop by anytime. The licensed moneylender also prides itself on offering “the easiest business loan in Singapore” – making it a great choice for busy businesses in need of a quick emergency cash flow boost.

Special features:

  • Applications can take less than one hour
  • Unsecured personal loans
  • Great for businesses that are short on time
  • Attractive rates up to 4% per month


  Good to know:

  • Personal applicants must be over 18 and have a minimum monthly income of $1,500
  • Businesses need a minimum turnover of $60k to apply


Read Review Apply Now

Bugis Credit Pte Ltd


License No: 26/2021

What we like: If you value professional and efficient customer service, Bugis Credit is hard to beat – just look at its excellent online ratings and honest reviews written by real borrowers. Bugis Credit is widely praised for its reliability, its personal loan is super straight-forward and the lender’s staff has an amazing reputation across the industry.

Special features:

  • A good choice for personal, unsecured loans
  • Attentive staff and professional service
  • Fast and hassle-free approval procedures
  • Fees are clearly documented and explained


  Good to know:

  • You must be 18 years old above with a minimum income of $1,500 per month
  • An in-person meeting at their Bugis Cube office is required


Read Review Apply Now

GM Creditz Pte Ltd


License No: 101/2021

What we like: GM Creditz offers generous loan tenors to business and personal borrowers. Traditional banks also offers repeat borrowers more flexible policies, as well as a better interest rate. However, GM Creditz is perfect for new borrowers and those with poor credit scores too. Speak to their helpful staff and you’ll almost certainly find a solution.

Special features:

  • Superb location on North Bridge Road
  • Loans available for customers with lower credit scores
  • Open 7 days a week
  • Amazing perks for returning borrowers


  Good to know:

  • Personal borrowers must be 18 years old and earning $1,500 per month
  • Borrowers might need to meet with GM Creditz in-person before their loan is approved


Read Review Apply Now

Raffles Credit Pte Ltd


License No: 55/2021

What we like: The Raffles name is virtually synonymous with Singapore itself and this long-established licensed moneylender is widely considered one of the top licensed moneylenders in Singapore. We love Raffles Credit’s fully customizable personal loan, other loan options and its attractive interest rate. What’s more, its prestigious reputation is one of the best in town.

Special features:

  • Convenient Raffles Place location
  • Fully customizable loans available
  • Excellent interest rate across the whole product range
  • Amazing reviews from honest borrowers


  Good to know:

  • Personal borrowers can only apply for loans up to 6x their monthly income
  • Business loans are only available to companies earning at least $60k


Read Review Apply Now

Fortune Credit Pte Ltd


License No: 31/2021

What we like: Fortune Credit’s strategic Bugis Cube location and hands-on approach to customer service make it a great choice for first-time personal borrowers or businesses who want to be discreet when you encounter financial difficulties. It also allows business and personal borrowers to flexibly customize their monthly installments loans and tenors.

Special features:

  • Diverse loan portfolio on offer
  • Flexible approach to borrowing
  • Competitive interest rate on all loans
  • Attentive customer service as proven in customer reviews


  Good to know:

  • Businesses must be earning at least $60k in order to apply
  • Personal borrowers must be earning at least $1,500 per month and be over 18 years old


Read Review Apply Now


How Does Moneylender Review Assist You with Loan Applications? 

Here at Moneylender Review, we scour the internet in search of the best licensed moneylenders in Singapore. We then offer honest, unbiased reviews and borrowing advice, as well as tips on the latest Singapore laws governing money lending. 

In short, we equip you with all the knowledge and know-how you need in order to borrow money more effectively.

But that’s not all – on top of all this completely free information, we provide borrowers with a quick and easy loan application form and comparison service right here on our website. Simply enter your name and phone number, and Moneylender Review will do the rest! 

Confused? Find out more about how to apply here.


How to Apply for a Loan with Moneylender Review

Applying for a fast cash loan with Moneylender Review couldn’t be easier. Simply fill in a loan application form , then sit back and let Moneylender Review work its magic.

Once your form has been submitted, we’ll automatically match up your unique requirements with the best loans currently available from licensed moneylenders in Singapore. 

This enables you to determine eligibility with several reputable licensed moneylenders all at once and make an informed decision on which is best. What’s more, you’ll only have to go through the loan application process once, rather than applying individually with each licensed moneylender.

Once you’ve decided which of our quotes best meets your needs, all you have to do is book an appointment with one of our friendly advisors to give us your signature and finalize the deal.

It really is as easy as 1, 2, 3!

1 – Submit a loan application form

2 – Receive your personalized loan quotes

3 – Visit the Licensed Moneylender office to sign the papers and secure your loan!


What Are the Latest Money Lender Guidelines in Singapore?

You might think that money lending guidelines in Singapore will differ depending on which licensed money lender you decide to approach for a quote, but this isn’t actually the case. In fact, borrowing funds in Singapore is much more straightforward than you might expect.

All licensed moneylenders in Singapore follow a select few specific guidelines as laid out by the Ministry of Law. This means you’ll never be charged an interest rate of more than 4% per month no matter which provider you choose, but there’s a number of other things to remember too. Here’s everything you need to know:


Money Lender Guidelines in Singapore Explained

  • Lenders cannot charge interest rates higher than 4% per month for personal loans.
  • Legal moneylenders are forbidden from charging late payment fees in excess of $60. The maximum late interest rate that a moneylender can charge is 4% per month for each month the loan is repaid late.
  • Total fees (including admin fees, late payment fees and interest) must never exceed the principal sum of the loan itself.
  • A loan application cannot charge an administrative fee of more than 10%. Such fees can only be charged once after a loan has been approved.
  • All interest rates must be calculated on a ‘reducing balance’ basis (i.e. compound interest rates are not allowed).

Applying for a loan is easy, as long as you know exactly what you’re looking for and precisely what the latest money lending laws are. Stick to the best licensed money lenders Singapore has to offer and we don’t think you can go too far wrong.


Things You Should Take Note Of When Choosing The Best Money Lender

When you require some fast cash to pay medical bills, unexpected vehicle breakdown, or any other unexpected expenses, it’s necessary to find a trustworthy money lender in Singapore. Always bear the below pointers in mind as you choose the right money lenders in Singapore:


The Licensed Money Lender Reputation

Ensure you look for a moneylender in Singapore who has a professional approach in their dealings with their customers. The licensed money lender you work with needs to have a focus on transparency and integrity even as they provide you with the financial assistance you urgently need.

Before deciding on a licensed loan provider, it’s suggested that you determine the lender’s company reputation among their previous and current clients. You can get this information by reading through money lender reviews and feedback offered online by their clients.


Loan Request and Approval

Choose a money lending Singapore who can offer you efficient, trustworthy, and fast services for all your financial troubles. Fast loan processing needs to be another important criterion to look at when choosing a legal money lender. The lending company needs to be able to address your needs correctly and offer you a solution together with fast processing.

A trustworthy money lender will not carry out extensive background checks and for them to approve your request for a personal loan when you hold a bad credit record. There are licensed and trustworthy moneylenders available in Singapore that give considerations to those borrowers who have bad credit. 

They trust that these borrowers are able to improve their credit score when offered the chance. Therefore, ensure you do your research thoroughly and choose moneylenders who have less strict policies. This you can conclude by browsing through the loan application requirements and procedures of the particular lender you intend to work with.


The Money Lender Credibility

It is advisable for you to pick a licensed moneylender who has a strong lending background and uses a research-backed approach in all their financial products. The best moneylenders should be able to offer client-oriented services to help meet all their financial needs.

Take time to verify their licenses, for you to be sure that the moneylenders are allowed to operate their lending business legally. Their license needs to be valid and issued by the Registry of Moneylenders. All licensed money lenders need to comply with Moneylenders Act and Rules. Interviews and online research will help you locate the ideal consultant who will give you pointers to help you make an informed decision before applying for a personal loan.

In addition, you need to choose money lenders that have been in the business for several years. This is because the duration of time in any business serves to reflect on their good reputation and performance.


Interest Rates

It is important for you to recognize that legal moneylenders provide an interest rate that might differ from one another. It is for this reason that you have to compare the interest rate before making your final decision. Confirm that there are no hidden charges and some other essential details that are pointed out in the loan contract’s fine print before signing anything.

Additionally, you need to be cautious of money lenders who offer you very low rates that appear too unbelievable. Always take your time when deciding on the right one for you. Make sure you carry out thorough research before making any commitment to a particular company.


Flexible Loan Repayment Plan

You need to discuss with your licensed money/loan provider the choice of repayment plan as well. This is because it could affect you being able to repay the loans fully. Even then, you might end up coming across more problems after you get a lender who will provide you the loan amount you require, but the repayment conditions are sadly non-negotiable.

Opt for a licensed moneylender that takes time to talk with you about every topic that may affect your choice of getting a loan. This could include interest rates, repayment terms, loan amount, as well as other issues related to receiving the ideal loan package.


Loan Services and Products

It’s best to choose a licensed moneylender from Moneylender Review who can give you personalized and best deals as well as rates to match the loans you are looking for. Once you have reviewed the money lender’s reputation, credibility, interest rates, and their approval process, you need to take a look at their services and products.

It’s better to go for a loan provider that will provide you with a range of loan services and products. This is because you will not have to look further each time you need multiple loans from the same moneylender in the future. Some of the popular loan packages that most lending companies provide include payday loans, personal loans, unsecured loans, foreigner loans, bridging loans, and renovation loans just to name a few.

Without a doubt, money transactions are the most crucial. For that reason, it’s of the highest importance to pick a lending company that endeavors to uphold the integrity and transparency of their key priorities. Overall, do consider the fairness of all the services they offer to their clients.


Frequently Asked Questions (FAQs) 

Our expert team at Moneylender Review have compiled a list of helpful FAQs for those of you who might still be unsure about money lender guidelines in Singapore, or how to apply for a loan

If you have any further questions, please do not hesitate to contact our helpful team today.

What other things should I consider before applying for a loan?

Above all else, when applying for a loan, it’s important to do your research to ensure you are getting the best possible deal to suit your needs. The best way to achieve this is to use a loan comparison service like Moneylender Review.

We suggest always asking yourself these five questions before filling in any applications:

  • How much do you want to borrow?
  • How soon do you need the money?
  • What interest rate and fees suit you?
  • How reliable is the lender?
  • Are there any hidden fees or charges?

Loans are a great way to raise quick cash, but making the right decision is absolutely crucial. Compare loan quotes with Moneylender Review today.

What is the purpose of applying for a loan?

There are many reasons businesses and individuals might need to apply for a loan. Maybe you are experiencing short-term financial difficulties and need some extra cash in order to bridge a gap in your finances? Or perhaps you want to grow your business, but lack the working capital you need to achieve your goals? 

Whatever your needs, applying for a loan is a fast and effective way of boosting your cash flow and helping you through those challenging times. Apply for a loan with Moneylender Review today through our online loan application portal.

How much can I borrow?

How much money you are able to borrow will depend on a number of important factors, ranging from which licensed money lender you wish to borrow from, the bank’s own limitations, your personal credit history, and more. However, there are a few general guidelines to keep in mind when borrowing money in Singapore.

Singaporean citizens and permanent residents earning $20,000 or less per year can borrow up to $3,000, while anyone earning more than $20,000 per year can typically borrow up to six times of their monthly earnings. This means that, for example, if you earn $48,000 per year, you can potentially borrow up to $24,000 from different licensed money lenders in Singapore.

For foreigners residing in Singapore earning $10,000 or less per year will be subject to a borrowing cap of $500. However, those earning between $10,000 and $20,000 per year may still borrow up to $3,000, while foreigners earning more than $20,000 per year are still entitled to apply for loans up to a value of six times of their monthly income, just as a standard resident would.

What is my affordability in repaying the loan?

Affordability is arguably the single most important consideration when taking out a loan. Once you start speaking to licensed money lenders in Singapore, your monthly income, outstanding loan and your credit score will naturally determine your affordability.

However, it’s important to review your financial situation very closely and avoid borrowing beyond your means. Think carefully about how much you can afford to repay, rather than how much the money lenders will let you borrow.

What should I look into when compare loans?

Comparing loans can get confusing very quickly, so we at Moneylender Review encourage all our customers to closely weigh up the following categories when comparing loan offers from legal moneylenders:

  • Reasonable interest rates 
  • Repayment period
  • Late repayment fees and other hidden charges
  • The money lender’s reputation and reviews

Use these four key criteria to compare providers and you can’t really go too far wrong.

Will this impact my credit score?

Borrowing money can sometimes limit your credit score, for example, if you take out a personal loan from a bank that has previously issued you credit cards. We recommend always keeping the amount you choose to borrow within a reasonable limit and shopping around for the best deal.

Can I pay off my loan early?

Yes, you can. Depending on your loan provider, you may possibly get a goodwill discount. Contact your lender for further details.

How do I know if the money lender is licensed?

The Singapore Ministry of Law website lists all of the licensed money lenders in Singapore. The site also closely documents any money lenders that may have been suspended, if ever you are unsure.

What fees might money lenders charge?

All licensed moneylenders are only permitted to impose the following charges and expenses:

  • a fee not exceeding $60 for each month of late repayment;
  • Processing fees not exceeding 10% of the principal of the loan when a loan is granted; and
  • legal costs ordered by the court for a successful claim by the loan provider for the recovery of the loan.

The total fees charged (including admin fees, late payment fees and interest) will never exceed your principal loan amount.

How much is the average interest rate?

Licensed money lenders interest rates tend to vary between providers, but no Singapore licensed money lender is allowed to charge rates higher than 4% per month. It always pays to opt for the provider with the lowest possible rate.

How long do loans take to approve?

This will always depend on which licensed money lenders you are borrowing from. Approval times can range from just 30 minutes to several days, and an in-person appointment is required, this is to have a face-to-face verification and to sign loan contracts.

How do I avoid applying for loans with unlicensed money lenders?

It’s easy to know if a money lender is licensed or not. The Registry of Moneylenders - Ministry of Law provides a complete list of registered money lenders in Singapore. Check this updated list to verify their license number and business address. 

Moreover, you must also be aware that money lenders are permitted to advertise only through these three channels:

  • business or consumer directories (in print or online media)
  • websites belonging to the moneylender
  • advertisements placed within or on the exterior of the moneylender’s business premises.

All other channels are prohibited.

If you receive flyers, SMSes, emails or other forms of advertisements these may be from either licensed moneylenders operating in violation of the rules, or unlicensed ones.

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