Moneylenders2019-06-13T16:37:43+08:00

How much would you like to borrow?

What should I consider before taking up a loan?2019-05-01T10:54:50+08:00

Before approaching a licensed moneylender, have you consider other alternatives, such as  various financial assistance schemes offered by various Government agencies.

  • You may refer to onemoney.com.sg and contact the various government agencies to find out more about their schemes.
  • You are legally obliged to fulfil any loan contract you enter into with a licensed moneylender.
  • Consider whether you are able to abide by the contractual terms, bearing in mind your income and financial obligations. Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.
  • The law requires moneylenders to explain the terms of a loan to you in a language you understand and to provide you with a copy of the loan contract. Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged and the fees applicable.
  • Consider carefully before agreeing to any contractual term which allows a moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment. When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full. If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.
  • You should shop around different moneylenders for the most favourable terms.
  • DO NOT not rush into and commit yourself to a loan until you are satisfied with the terms and conditions.
How much can I borrow?2019-05-01T11:01:13+08:00

For secured loans, you can obtain a loan of any amount.

For unsecured loans, you can obtain:

  • If your annual income is less than S$10,000, you can borrow up to S$3,000 if you are a Singapore Citizens and Permanent residents, up to $1,500 if you are foreigners residing in Singapore
  • If your annual income is at least S$10,000 and less than S$20,000 you can borrow up to S$3,000 if you are a Singapore Citizens and Permanent residents, up to $3,000 if you are foreigners residing in Singapore
  • If your annual income is at least S$20,000 you can borrow up to 6 times your monthly income if you are a Singapore Citizens and Permanent residents, up 6 times your monthly income if you are foreigners residing in Singapore

Updated on 1 May 2019

What are the interest rates moneylenders can charge?2018-02-12T14:32:56+08:00

The maximum interest rate moneylenders can charge is 4% per month.
This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one.

If a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

The computation of interest charged on the loan must be based on the amount of principal remaining after deducting from the original principal the total payments made by or on behalf of the borrower which are appropriated to principal.

Example 1: If you takes a loan of $10,000, and has repaid $4,000, only the remaining $6,000 can be taken into account for the computation of interest.

Example 2:  If you takes a loan of $10,000, and fails to pay for the first instalment of $2,000, late interest will be charged on $2,000 only and not on the remaining $8,000 as it is not due yet.

What are the fees that moneylenders can charge?2018-02-07T10:18:58+08:00

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

  • A fee not exceeding $60 for each month of late repayment
  • A fee not exceeding 10% of the principal of the loan when a loan is granted
  • Legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also cannot exceed an amount equivalent to the principal of the loan.

Example: If you takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees cannot exceed $10,000.

How do I know whether a moneylender is licensed or not?2018-02-12T14:51:33+08:00

Do not borrow from unlicensed moneylenders.
Verify that a moneylender is licensed by checking the list of licensed moneylenders.
Click here to access the list of licensed moneylenders (OneMoney.com.sg)
Click here to access The Registry of moneylenders

If you are being harassed via telephone, SMS or e-mail by illegal moneylenders you can file a complaint to stop it.
The police are in charge of investigating scams such as unlicensed moneylending, scam messages, online betting and other general crimes.

  • File a police report through the Electronic Police Centre
  • The National Crime Prevention Council’s (NCPC) ‘X Ah Long’ Hotline at 1800-924-5664 (1800-X-AH-LONG)
How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?2018-02-12T15:09:03+08:00

Licensed moneylenders are permitted to advertise only through these three channels:

  1. business or consumer directories (in print or online media)
  2. websites belonging to the moneylender
  3. 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 which are not permitted, these would either be from licensed moneylenders operating in breach of the advertising restrictions, or from unlicensed moneylenders.

Hence, you are advised not to respond to such advertisements.

Instead, you should report the advertisements by providing a proof of the advertisements (for SMS – a screen capture) to the Registry of Moneylenders or to the Police.

You can contact the Registry of Moneylenders at telephone number: 1800-2255-529.

Can I rely on the content of an advertisement to take up a loan from a moneylender?2018-02-12T15:09:04+08:00

You must seek clarifications on specific terms of the loan contract before signing up with a licensed moneylender.
Do not rely solely on the content of advertisements from the moneylender.

What Should I Do after being granted a loan?2018-02-12T15:14:08+08:00

You are legally bind to fulfil any loan contract you enter into with a licensed moneylender.

Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.

  • Make sure the moneylender delivers to you the correct principal amount of the loan.
    The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan instalments on time to avoid incurring late payment fees and late interest.
  • Make sure the moneylender issues to you a dated and signed receipt every time you repay your loan or pay any fees in cash, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your loan(s) at least once every 6 months, and check it for correctness (e.g. name, amount, date)
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.
What should I do if the service level and practices of a moneylender is not acceptable?2018-02-12T15:14:19+08:00

Rules governing licensed moneylenders in Singapore are constantly improvising to encourage good business practices and better business models that can benefit borrowers.

Be mindful if they:

  • Use abusive language, or behave in a threatening manner towards you.
  • Ask for your SingPass user ID and/or password.
  • Retain your NRIC card or any other personal ID documents (e.g. driver’s licence, passport,work permit, employment pass or ATM card).
  • Ask you to sign on a blank or incomplete Note of Contract for the loan.
  • Grant you a loan without giving you a copy of the Note of contract for the loan and/or without properly explaining to you all the terms and conditions.
  • Grant you a loan without exercising due diligence (e.g. approving a loan over the phone, SMS or email before even receiving your loan application form and supporting documents, such as the income tax assessment and payslips).
  • Withhold any part of your principal loan amount for any reason.

Such practices are not acceptable.

If you encounter them, you should report the moneylender to the Registry of Moneylenders at telephone number: 1800-2255-529.

  • Rest assured that the Registry will not disclose your details to the moneylender without your consent.
  • To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide us with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender.
  • The Registry views complaints against moneylenders seriously and will investigate them thoroughly.
  • Errant moneylenders will be taken to task.

 

  • If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act.
  • The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.
How do I lodge a complaint against a moneylender against unfair practices and/or contract?2018-02-12T15:14:25+08:00

You can contact the Registry of Moneylenders at telephone number: 1800-2255-529.

Rest assured that the Registry will not disclose your details to the moneylender without your consent.

To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide them with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender.

The Registry views complaints against moneylenders seriously and will investigate them thoroughly.

Errant moneylenders will be taken to task.

If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act.

The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.

In the event that I am standing as a surety for a loan, what should I look out for?2018-02-12T15:14:30+08:00

You should ensure that:

  • You understand your responsibilities as a surety
  • You receive a copy of the Note of Contract at the time that the loan is granted to the borrower
  • The moneylender has explained the terms in the Note of Contract in a language that you understand
  • The moneylender does not keep your NRIC card or any other personal ID documents (e.g.driver’s licence, passport).

The moneylender does not acquire any information that contains passwords to your user accounts (e.g. Singpass account, Internet banking account, email account).

What is a Caveat?2018-02-07T09:34:41+08:00

A caveat is a legal document lodged with the authority by a person with an interest in land or property.
The effect of a caveat is to prevent any further or contradictory dealings with the property from being registered, serving as a “chope” to that property.

Consider carefully before agreeing to any contractual term which allows a licensed moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment.

When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full.

If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.

Do you really need a loan today?

It can be expensive to taking up a loan and borrowing may not solve your financial problems.
If you really need to borrow, borrow only what you need that you can repay.
Do Not Borrow to pay off another debt.

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OneMoney.com.sg - Loan from Licensed Moneylender

List of Licensed Moneylender (UPDATED AS OF 01 June 2019)

S/No.Business NameBusiness AddressLicence No.Landline numberBusiness Url
11 2 LEND PTE. LTD.1, PARK ROAD, #01-83/84, PEOPLE'S PARK COMPLEX, SINGAPORE 05910895/201964930160http://www.12lend.com.sg
2101 CREDIT PTE. LTD.101, UPPER CROSS STREET, #01-24, PEOPLE'S PARK CENTRE, SINGAPORE 058357 35/201962381018http://www.101personalloan.com.sg
31133 MONEYLENDERS PTE. LTD.262, BALESTIER ROAD, #01-02, OKIO, SINGAPORE 329714 95/201865561133http://www.1133moneylenders.sg
41AP CAPITAL PTE. LTD.10, ANSON ROAD, #01-38A, INTERNATIONAL PLAZA, SINGAPORE 079903 84/201965335335-
51ST CAPITAL PTE. LTD.304, ORCHARD ROAD, #04-1A/2, LUCKY PLAZA, SINGAPORE 238863 4/201967347700http://www.1stcapital.com.sg
61ST CREDIT SG PTE. LTD.149, ROCHOR ROAD, #01-07, FU LU SHOU COMPLEX, SINGAPORE 188425 90/201862665422http://www.moneylenderhub.com
71ST LG CREDIT PTE. LTD.304, ORCHARD ROAD, #02-29, LUCKY PLAZA, SINGAPORE 238863 79/201962996654http://www.moneylenderpro.com
8365 CREDIT SOLUTIONS PTE LTD14, SCOTTS ROAD, #03-64, FAR EAST PLAZA, SINGAPORE 228213 12/201962225500http://www.365credit.com.sg
996BM CREDIT PTE. LTD.883, NORTH BRIDGE ROAD, #01-13, SOUTHBANK, SINGAPORE 198785 70/201962935851-
10A1 CREDIT SG PTE. LTD.2, HAVELOCK ROAD, #02-08, HAVELOCK2, SINGAPORE 059763 17/201963360833-
11ABI CREDIT PTE LTD185, TOA PAYOH CENTRAL, #01-320, SINGAPORE 310185 13/201963379719http://www.abicredit.sg
12ABK LEASING PTE. LTD.13, NORTH BRIDGE ROAD, #01-3984, GOLDEN BEACH VISTA, SINGAPORE 190013 88/201962242224-
13ABM CREDITZ SINGAPORE PTE. LTD.1, PARK ROAD, #01-12, PEOPLE'S PARK COMPLEX, SINGAPORE 059108 69/201967373392-
14ACCREDIT PTE. LIMITED503, TAMPINES CENTRAL 1, #01-315, SINGAPORE 520503 51/201962260510http://www.accreditloan.com
15ADVANCE CASH CREDIT PTE. LTD.304, ORCHARD ROAD, #04-12/13, LUCKY PLAZA, SINGAPORE 238863 82/201962500848http://www.advancecashcreditonline.com.sg
16ADVANCE PLANNERS CREDIT SG PTE. LTD.220, ORCHARD ROAD, #01-08, MIDPOINT ORCHARD, SINGAPORE 238852 83/201962351788-
17AERO CREDIT PTE. LTD.810, GEYLANG ROAD, #02-15, CITY PLAZA, SINGAPORE 409286 96/201962566319http://www.aerocredit.com.sg
18AK CREDIT CORPORATION PTE. LTD.2, HAVELOCK ROAD, #01-16, HAVELOCK2, SINGAPORE 059763 147/201865359989http://www.akcredit.com.sg
19AKB MONEYLENDERS PTE. LTD.69, JALAN BESAR, SINGAPORE 208815 75/201962386116-
20ALLES AUTOS CREDIT PTE. LTD.133, NEW BRIDGE ROAD, #01-34, CHINATOWN POINT, SINGAPORE 059413 96/201865330300http://www.allesautoscredit.com
21ALPHA 8 PTE. LTD.449, CLEMENTI AVENUE 3, #01-265, SINGAPORE 120449 67/201967333081-
22ANDAL ENTERPRISE PTE. LTD.50, TAGORE LANE, #04-11A2, ENTREPRENEUR CENTRE, SINGAPORE 787494 62/201990027406-
23AR CREDITZ PTE. LTD.2, HAVELOCK ROAD, #01-21, HAVELOCK2, SINGAPORE 059763 115/201864633302-
24ART CREDIT PTE. LTD.238A, SERANGOON ROAD, #02, SINGAPORE 218085 68/201962922448-
25AVIS CREDIT (SG) PTE. LTD.185, TOA PAYOH CENTRAL, #01-344, SINGAPORE 310185 59/201968832017-
26BAN KING CREDIT (S) PTE. LTD.705, ANG MO KIO AVENUE 8, #01-2563, SINGAPORE 560705 80/201967437701http://www.sgmoneylender.sg
27BEST CREDIT SG PTE. LTD.372, BUKIT BATOK STREET 31, #01-374, (Level 2), SINGAPORE 650372 119/201862725538http://www.bestcredit.sg
28BLISS CREDIT PTE. LTD.11, COLLYER QUAY, #03-24, THE ARCADE, SINGAPORE 049317 133/201863271334http://www.blisscredit.com.sg
29BST CREDIT PTE. LTD.131, JURONG GATEWAY ROAD, #01-251, SINGAPORE 600131 134/201862991782http://www.bstcredit.com.sg
30BTB CREDITZ PTE. LTD.810, GEYLANG ROAD, #01-05/14, CITY PLAZA, SINGAPORE 409286 91/201867487875http://www.btbcreditz.com.sg
31BUGIS CREDIT PTE LTD470, NORTH BRIDGE ROAD, #02-12, BUGIS CUBE, SINGAPORE 188735 31/201963459123http://www.reliablemoneylender.sg
32CAPITAL FUNDS INVESTMENTS PTE. LTD.65, UBI CRESCENT, #06-07, HOLA CENTRE, SINGAPORE 408559 166/201862817736http://www.loancfi.com
33CASH CHECK SINGAPORE PTE. LTD.726, ANG MO KIO AVENUE 6, #01-4166, SINGAPORE 560726 112/201865381742http://www.cashcheck.com.sg
34CASH DIRECT PTE. LTD.1187, UPPER SERANGOON ROAD, #01-16, THE MIDTOWN, SINGAPORE 533971 84/201866351300http://www.cashdirect.sg
35CASH MART PTE. LTD.277, BALESTIER ROAD, SINGAPORE 329726 157/201863974111http://www.cashmart.sg
36CASHMAX CREDIT PTE. LTD.810, GEYLANG ROAD, #01-56, CITY PLAZA, SINGAPORE 409286 78/201962215480-
37CRAWFORT PTE. LTD.1, NORTH BRIDGE ROAD, #01-35, HIGH STREET CENTRE, SINGAPORE 179094 97/201867778080http://www.crawfort.com.sg
38CREDIT 21 PTE. LTD.10, ANSON ROAD, #01-07, INTERNATIONAL PLAZA, SINGAPORE 079903 38/201962211811http://www.credit21.com.sg
39CREDIT 89 (SG) PTE. LTD.200, JALAN SULTAN, #04-21B, TEXTILE CENTRE, SINGAPORE 199018 165/201863980909-
40CREDIT ASSIST PTE. LTD.101, UPPER CROSS STREET, #01-15, PEOPLE'S PARK CENTRE, SINGAPORE 058357 25/201965678869-
41CREDIT CULTURE PTE. LTD.9, CRAIG ROAD, #02-01, SINGAPORE 089669 57/201969217300http://www.creditculture.sg
42CREDIT EMPIRE ENTERPRISE PTE. LTD.304, ORCHARD ROAD, #02-103, LUCKY PLAZA, SINGAPORE 238863 36/201967337018http://www.creditempire.sg
43CREDIT EXCEL CAPITAL PTE. LTD.192, WATERLOO STREET, #05-04, SKY LINE BUILDING, SINGAPORE 187966 98/201863370055http://www.creditexcel.sg
44CREDIT HUB CAPITAL PTE. LTD.190, MIDDLE ROAD, #10-01A, FORTUNE CENTRE, SINGAPORE 188979 120/201863385115http://www.credithubcapital.sg
45CREDIT KING PTE. LTD.101, UPPER CROSS STREET, #01-27, (PART)& #B1-49 PEOPLE'S PARK CENTRE, SINGAPORE 058357 39/201962221788-
46CREDIT MATTERS PTE. LTD.801, GEYLANG ROAD, #02-01, SINGAPORE 389681 98/201866363233http://www.creditmatters.com.sg
47CREDIT THIRTY3 PTE. LTD.304, ORCHARD ROAD, #02-88, LUCKY PLAZA, SINGAPORE 238863 1/201962922931http://www.creditthirty3.com.sg
48CREDIT XTRA PTE. LTD.101, UPPER CROSS STREET, #01-05C, PEOPLE'S PARK CENTRE, SINGAPORE 058357 80/201863388829http://www.creditxtra.com.sg
49CREDITMASTER PTE. LTD.1, PARK ROAD, #01-50, PEOPLE'S PARK COMPLEX, SINGAPORE 059108 40/201967481338http://www.creditmaster.sg
50DIO CREDIT PTE. LTD.810, GEYLANG ROAD, #01-115/6, CITY PLAZA, SINGAPORE 409286 140/201863966215http://www.diocredit.com.sg
51ELITE INVESTMENT & CREDIT PTE. LTD.799, GEYLANG ROAD, #01-01, SINGAPORE 389680 89/201967444466http://www.eliteloans.com.sg
52EMPIRE GLOBAL PTE. LTD.513, BISHAN STREET 13, #01-514, SINGAPORE 570513 41/201962591883http://www.applypersonalloans.sg
53EMVERTEX CREDIT (SG) PTE. LTD.200, JALAN SULTAN, #02-33, TEXTILE CENTRE, SINGAPORE 199018 135/201862916868http://www.emvertexcredit.com
54ETHOZ PROTECT PTE. LTD.30, BUKIT BATOK CRESCENT, SINGAPORE 658075 164/201866547806http://www.ethozgroup.com
55EXCEL CREDIT (PTE.) LTD.BLK 449, CLEMENTI AVENUE 3, #01-241, (PLOT B), SINGAPORE 120449 7/201962202937http://www.excelcredit.sg
56EZ LOAN PTE. LTD.I: 3, BEACH ROAD, #01-4853, BEACH ROAD GARDENS, SINGAPORE 190003 II: 1, TANJONG PAGAR PLAZA, #02-09, SINGAPORE 082001 21/201962222529http://www.ezloan.com.sg
57EZ PTE. LTD.765, GEYLANG ROAD, SINGAPORE 389663 22/201964400822http://www.ezmoneylender.com.sg
58FAST MONEY PTE. LTD.I: 101, YISHUN AVENUE 5, #01-39, SINGAPORE 760101 II: 505, TAMPINES CENTRAL 1, #01-341, SINGAPORE 520505 122/201862244749http://www.fastmoney.com.sg
59FONG CHIN CAPITAL PTE. LTD.129, BEDOK NORTH STREET 2, #01-42, SINGAPORE 460129 99/201864455022http://www.fongchincapital.com.sg
60FORTUNE CREDIT PTE. LTD.470, NORTH BRIDGE ROAD, #02-01A, BUGIS CUBE, SINGAPORE 188735 49/201967771887http://www.fortunecredit.com.sg
61GAIN CREDIT PTE. LTD.807, YISHUN RING ROAD, #01-4197, SINGAPORE 760807 146/201864380113-
62GALAXY CREDIT AND INVESTMENTS PTE LTD709, ANG MO KIO AVENUE 8, #01-2595, SINGAPORE 560709 158/201864382322http://www.galaxycredit.com.sg
63GM CREDITZ PTE. LTD.111, NORTH BRIDGE ROAD, #01-41, PENINSULA PLAZA, SINGAPORE 179098 88/201865881886http://www.gmcreditz.com
64GOLD ALLIANZE CAPITAL PRIVATE LIMITED1, ROCHOR CANAL ROAD, #01-03, SIM LIM SQUARE, SINGAPORE 188504 42/201963386956http://www.goldallianze.com.sg
65GOLDEN CREDIT (S) PTE. LTD.101, UPPER CROSS STREET, #01-05F, PEOPLE'S PARK CENTRE, SINGAPORE 058357 43/201962241300http://www.goldencredit.com.sg
66GOLDSTAR CREDIT PTE. LTD.I: 183, TOA PAYOH CENTRAL, #01-254, SINGAPORE 310183 II: 1187, UPPER SERANGOON ROAD, #01-21, THE MIDTOWN, SINGAPORE 533971 123/201863840088http://www.goldstarcredit.co
67GS CREDIT PTE. LTD.1, GATEWAY DRIVE, #06-08, WESTGATE, SINGAPORE 608531 100/201865630321http://www.jurongmoneylender.sg
68GT CREDIT PTE. LTD.178, TOA PAYOH CENTRAL, #01-202, SINGAPORE 310178 11/201967428154http://www.gtcredit.com.sg
69GV CREDIT PTE LTD101, JOO CHIAT ROAD, GV BUILDING, SINGAPORE 427395 101/201863450233-
70HAPPY CASH PTE. LTD.465, NORTH BRIDGE ROAD, #01-5083, SINGAPORE 191465 28/201962914312http://www.88personalloansingapore.com
71HERSING CREDIT PTE LTD21, TAMPINES STREET 92, #05-00, H C DESIGN CENTRE, SINGAPORE 528891 102/201862722000-
72HHL CREDIT PTE. LTD.1, ROCHOR CANAL ROAD, #01-04, SIM LIM SQUARE, SINGAPORE 188504 24/201967321998-
73HMS CREDIT PTE LTD189, SELEGIE ROAD, #B1-11, SELEGIE CENTRE, SINGAPORE 188332 83/201863339061-
74HORISON CREDIT PTE. LTD.1, PARK ROAD, #01-15, PEOPLE'S PARK COMPLEX, SINGAPORE 059108 58/201968442902-
75HS CREDIT PTE. LTD.3, COLEMAN STREET, #04-32, PENINSULA SHOPPING COMPLEX, SINGAPORE 179804 87/201963377782-
76HUP HOE CREDIT PTE. LTD.1, ROCHOR CANAL ROAD, #01-01, SIM LIM SQUARE, SINGAPORE 188504 113/201863969119http://www.huphoecredit.com.sg
77I-CREDIT PTE. LTD.82, LORONG 23 GEYLANG, #05-02, ATRIX, SINGAPORE 388409 94/201862225222http://www.icredit.com.sg
78IFS CONSUMER SERVICES PRIVATE LIMITED10, EUNOS ROAD 8, #09-04, SINGAPORE POST CENTRE, SINGAPORE 408600110/201963030917
79IGNIS MONTIS PTE. LTD.704, ANG MO KIO AVENUE 8, #01-2545, SINGAPORE 560704 91/201987882772-
80IP CREDIT PTE. LTD.185, TOA PAYOH CENTRAL, #01-332, SINGAPORE 310185 99/201962228993http://www.expressloans.com.sg
81JD CREDIT PTE. LTD.531, UPPER CROSS STREET, #01-38, HONG LIM COMPLEX, SINGAPORE 050531 44/201962927717http://www.jdcredit.com.sg
82JEFFLEE CREDIT PTE. LTD.131, JURONG GATEWAY ROAD, #01-261, SINGAPORE 600131 103/201865155969http://www.jeffleecredit.com.sg
83JML CREDIT PTE. LTD.756, UPPER SERANGOON ROAD, #04-13, UPPER SERANGOON SHOPPING CENTRE, SINGAPORE 534626 65/201962821135-
84JNB CREDIT PTE. LTD.175, BENCOOLEN STREET, #01-25, BURLINGTON SQUARE, SINGAPORE 189649 92/201993855810-
85JOTHI MONEYLENDER PTE. LTD.5001, BEACH ROAD, #07-63, GOLDEN MILE COMPLEX, SINGAPORE 19958894/201962982511
86JR CREDIT (S) PTE. LTD.304, ORCHARD ROAD, #02-14, LUCKY PLAZA, SINGAPORE 238863 33/201967373022http://www.jrcredit.sg
87KAIIRON PTE. LTD.111, NORTH BRIDGE ROAD, #05-15A, PENINSULA PLAZA, SINGAPORE 179098 86/201993838250-
88KARTHIK MONEY LENDING PTE. LTD.238, SERANGOON ROAD, SINGAPORE 218085 61/201962918194-
89KATONG CREDIT PTE. LTD.304, ORCHARD ROAD, #02-30/31, LUCKY PLAZA, SINGAPORE 238863 16/201962912210http://www.katongcredit.com.sg
90KBB CREDIT SD PRIVATE LIMITED111, NORTH BRIDGE ROAD, #01-35, PENINSULA PLAZA, SINGAPORE 179098 3/201962556998http://www.kbbcredit.sg
91KHALON & GILL MONEYLENDERS PTE. LTD.1, NORTH BRIDGE ROAD, #B1-25-A, HIGH STREET CENTRE, SINGAPORE 179094 136/201863921251-
92KIM ENG FINANCE (SINGAPORE) PTE LTD50, NORTH CANAL ROAD, #03-01, SINGAPORE 059304 74/201862315219-
93KR RM RAMASAMY PTE. LTD.238A, SERANGOON ROAD, SINGAPORE 218085 149/201862925506-
94KST CREDIT PTE. LTD.220, ORCHARD ROAD, #01-01, MIDPOINT ORCHARD, SINGAPORE 238852 75/201862555225http://www.kstcredit.com.sg
95LENDING BEE PTE. LTD.14, SCOTTS ROAD, #02-44/45, FAR EAST PLAZA, SINGAPORE 228213 54/201991279777-
96LIAN FONG CREDIT & TRADING (PTE) LTD96, JALAN JURONG KECHIL, SINGAPORE 598599 137/201864683948-
97MAGNUS CREDIT PTE. LTD.301, UBI AVENUE 1, #01-279, SINGAPORE 400301 30/201963389891http://www.magnuscredit.com.sg
98MAJESTIC CREDIT PTE. LTD.101, UPPER CROSS STREET, #01-26B/G, PEOPLE'S PARK CENTRE, SINGAPORE 058357 6/201967772772http://www.majesticcredit.com.sg
99MAX CREDIT PTE. LTD.1, SOPHIA ROAD, #01-15, PEACE CENTRE, SINGAPORE 228149 77/201863364144http://www.maxcredit.sg
100MM CREDIT PTE. LTD.217, BEDOK NORTH STREET 1, #01-63, SINGAPORE 460217 8/201962262207http://www.mmcredit.com.sg
101MONETIUM CREDIT (S) PTE. LTD.220, ORCHARD ROAD, #01-10, MIDPOINT ORCHARD, SINGAPORE 238852 161/201867777775http://www.monetiumcredit.com.sg
102MONEYPLUS CAPITAL PTE. LTD.159, SIN MING ROAD, #01-03, AMTECH BUILDING, SINGAPORE 575625 23/201965519052-
103MOTOR-WAY CREDIT PTE LTD1094, LOWER DELTA ROAD, MOTORWAY BUILDING, SINGAPORE 169205 104/201865719682-
104MWA CAPITAL PTE. LTD.3, PHILLIP STREET, #13-01, ROYAL GROUP BUILDING, SINGAPORE 048693 125/201865572275-
105NEW ERA CREDIT (S) PTE. LTD.50, EAST COAST ROAD, #02-58, ROXY SQUARE, SINGAPORE 428769 82/201863458801-
106OASIS CREDIT SERVICES PTE. LTD.442, CLEMENTI AVENUE 3, #01-87, SINGAPORE 120442 56/201967771121-
107ON LINE CREDIT PTE LTDBLK 210, NEW UPPER CHANGI ROAD, #01-731, (HALF PORTION ONLY), SINGAPORE 460210 29/201964459166http://www.onlinecredit.com.sg
108ORANGE CREDIT PTE. LTD.810, GEYLANG ROAD, #01-91, CITY PLAZA, SINGAPORE 409286 81/201967482320http://www.orangecredit.com.sg
109OT CREDIT PTE. LTD.135, JURONG GATEWAY ROAD, #01-323, SINGAPORE 600135 114/201862920119-
110PHILLIP CREDIT PTE. LTD.250, NORTH BRIDGE ROAD, #06-00, RAFFLES CITY TOWER, SINGAPORE 179101 105/201868127072-
111PIT-STOP CREDIT (SG) PTE. LTD.200, JALAN SULTAN, #02-27A, TEXTILE CENTRE, SINGAPORE 199018 64/201962971909-
112PL CREDIT PTE. LTD.77, HIGH STREET, #09-15, HIGH STREET PLAZA, SINGAPORE 179433 72/201963380807-
113PLATINUM CREDIT PTE. LTD.1, COLEMAN STREET, #01-11, THE ADELPHI, SINGAPORE 179803 126/201863330888http://www.platinumcredit.com.sg
114POWER CREDIT ENTERPRISE PTE. LTD.1, TRAS LINK, #01-11, ORCHID HOTEL, SINGAPORE 078867 150/201862865389http://www.powercreditsg.com
115PR VR CAPITAL PTE. LTD.77, HIGH STREET, #09-15, HIGH STREET PLAZA, SINGAPORE 179433 71/201963380807-
116PRIME MOTOR & LEASING PTE. LTD.61, UBI AVENUE 2, #01-03, AUTOMOBILE MEGAMART, SINGAPORE 408898 106/201867419292-
117PROSPER CREDIT PTE. LTD.186, TOA PAYOH CENTRAL, #01-420, SINGAPORE 310186 78/201862262320-
118QIANNOW PTE. LTD.60, PAYA LEBAR ROAD, #07-32, PAYA LEBAR SQUARE, SINGAPORE 409051111/201992306080
119QUICK CREDIT PTE LTD2, Jurong East Street 21, #04-01A/B, IMM BUILDING, SINGAPORE 609601 34/201968996188http://www.quickcredit.com.sg
120QUICKLOAN PTE. LTD.10, ANSON ROAD, #01-15, INTERNATIONAL PLAZA, SINGAPORE 079903 63/201962231788http://www.quickloan.com.sg
121QV CREDIT PTE. LTD.175A, BENCOOLEN STREET, #11-08, BURLINGTON SQUARE, SINGAPORE 189650 100/201968357775http://www.qvcredit.sg
122R2D CREDIT PTE. LTD.BLK 846, YISHUN RING ROAD, #01-3661, SINGAPORE 760846 14/201966351595http://www.r2dcredit.com.sg
123RIVERBANK FINANCIALS PTE LTD228, CHANGI ROAD, #B1-12, ICON@CHANGI, SINGAPORE 419741 128/201864443202-
124RJS CREDIT PTE. LTD.77, HIGH STREET, #04-06, HIGH STREET PLAZA, SINGAPORE 179433 66/201994509431-
125RM CREDIT PTE. LTD.2, HAVELOCK ROAD, #01-17, HAVELOCK2, SINGAPORE 059763 156/201862355335-
126RM R CREDIT PTE. LTD.29A, UPPER DICKSON ROAD, SINGAPORE 207488 60/201963960676-
127S G CREDIT PTE. LTD.304, ORCHARD ROAD, #02-98, LUCKY PLAZA, SINGAPORE 238863 79/201867320573-
128S P CREDIT PTE. LTD.43A, CAMPBELL LANE, #02-00, SINGAPORE 209915 53/201962916396-
129S.E. INVESTMENT PTE. LTD.135, JURONG GATEWAY ROAD, #01-335, SINGAPORE 600135 151/201865693957http://www.seinvestment.com.sg
130SANDS CREDIT PTE. LTD.175, BENCOOLEN STREET, #01-06, BURLINGTON SQUARE, SINGAPORE 189649 129/201862250268http://www.sandscredit.com.sg
131SGP CREDIT SINGAPORE PTE. LTD.133, JURONG GATEWAY ROAD, #01-299, SINGAPORE 600133 19/201964661157-
132SHANMUGAN MONEYLENDER PTE. LTD.10, JALAN BESAR, #13-05A, SIM LIM TOWER, SINGAPORE 208787 77/201962978574-
133SIGHAPPI ACHI MONEYLENDER (SG) PTE. LTD.25, NORRIS ROAD, #2, SINGAPORE 208267 76/201994555414-
134SINCERE MONEYLENDER PTE. LTD.13 , JALAN BESAR, (LEVEL 1 ONLY), SINGAPORE 208789 86/201862852261-
135SINGA CREDIT PTE LTD470, NORTH BRIDGE ROAD, #02-01, BUGIS CUBE, SINGAPORE 188735 130/201866946166http://www.singacredit.com
136SKM CREDIT PTE. LTD.185, TOA PAYOH CENTRAL, #01-334, SINGAPORE 310185 27/201963365148http://www.skmcredit.sg
137SME CARE PTE. LTD.5, JALAN KILANG BARAT, #07-02, PETRO CENTRE, SINGAPORE 159349 108/201862710023http://www.smecare.com.sg
138SOON SENG CREDIT PTE. LTD.711, ANG MO KIO AVENUE 8, #01-3501A, SINGAPORE 560711 85/201962925693-
139SU CREDIT PTE. LTD.175, BENCOOLEN STREET, #01-36, BURLINGTON SQUARE, SINGAPORE 189649 116/201866365644http://www.sucredit.com.sg
140SUMO CREDIT PTE. LTD.190, MIDDLE ROAD, #02-06, FORTUNE CENTRE, SINGAPORE 188979 10/201963360766http://www.sumo.com.sg/developers
141SWIFT CREDIT PTE. LTD.1, SOPHIA ROAD, #01-37, PEACE CENTRE, SINGAPORE 228149 152/201863830418http://www.swiftcredit.sg
142SYNERGY CREDIT PTE. LTD.140, UPPER BUKIT TIMAH ROAD, #02-18, BEAUTY WORLD PLAZA, SINGAPORE 588176 162/201864660049http://www.syncredit.com
143TAN & JIANG ENTERPRISE PTE. LTD.201D, TAMPINES STREET 21, #03-1155, SINGAPORE 524201 15/201967866098-
144THE MONEYLENDERS PTE. LTD.7A, TECH PARK CRESCENT, SINGAPORE 637839 109/201868628633http://www.skatool.com
145TKM CREDITZ PTE. LTD.43A, CAMPBELL LANE, #02-00, SINGAPORE 209915 52/201962938523-
146TRADITION CREDIT CO PTE LTD810, GEYLANG ROAD, #02-79, CITY PLAZA, SINGAPORE 409286 139/201868469108http://www.traditioncredit.com.sg
147TRILLION CREDIT SOLUTIONS PTE. LTD.I: 101, UPPER CROSS STREET, #01-26/A, PEOPLE'S PARK CENTRE, SINGAPORE 058357 II: 304, ORCHARD ROAD, #02-12, SINGAPORE 238863 153/201865090111http://www.trillioncredit.com.sg
148TUR MOHAR MONEY LENDING PTE. LTD.5001, BEACH ROAD, #07-39, GOLDEN MILE COMPLEX, SINGAPORE 199588 93/201962942219-
149U CREDIT (PTE.) LTD.180, BENCOOLEN STREET, #01-19, THE BENCOOLEN, SINGAPORE 189646 163/201863371768http://www.ucredit.sg
150UK CREDIT (S) PTE. LTD.210, NEW UPPER CHANGI ROAD, #01-723, SINGAPORE 460210 73/201964487448-
151UNILINK CREDIT PTE. LTD.35, SELEGIE ROAD, #10-27, PARKLANE SHOPPING MALL, SINGAPORE 188307 154/201863380690http://www.unilinkcredit.com.sg
152UNIQCASH PTE. LTD.7A, TRENGGANU STREET, SINGAPORE 058461 47/201969103483-
153UNITED CREDIT PTE. LTD.186, TOA PAYOH CENTRAL, #01-410, (2nd Floor) , SINGAPORE 310186 90/201962220227http://www.unitedcredit.com.sg
154UNLIMITED FINANCE PTE. LTD.162, BUKIT MERAH CENTRAL, #01-3541, SINGAPORE 150162 155/201862994666http://www.unlimitedfinance.com.sg
155VERA CAPITAL PTE. LTD.302, UBI AVENUE 1, #01-33, SINGAPORE 400302 110/201867411101-
156VM CREDIT PTE. LTD.261, WATERLOO STREET, #01-31, WATERLOO CENTRE, SINGAPORE 180261 111/201864811788http://www.valuemaxcredit.com.sg
157WAH LEONG COMPANY (PRIVATE) LIMITED339, JALAN BESAR, SINGAPORE 208984 2/201962970433-
158WINZ CREDIT PTE. LTD.I: 153, SERANGOON NORTH AVENUE 1, #01-530, SINGAPORE 550153 II: BLK 124, LORONG 1 TOA PAYOH, #01-467, 131/201862526696-
What should I consider before taking up a loan?2019-05-01T10:54:50+08:00

Before approaching a licensed moneylender, have you consider other alternatives, such as  various financial assistance schemes offered by various Government agencies.

  • You may refer to onemoney.com.sg and contact the various government agencies to find out more about their schemes.
  • You are legally obliged to fulfil any loan contract you enter into with a licensed moneylender.
  • Consider whether you are able to abide by the contractual terms, bearing in mind your income and financial obligations. Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.
  • The law requires moneylenders to explain the terms of a loan to you in a language you understand and to provide you with a copy of the loan contract. Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged and the fees applicable.
  • Consider carefully before agreeing to any contractual term which allows a moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment. When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full. If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.
  • You should shop around different moneylenders for the most favourable terms.
  • DO NOT not rush into and commit yourself to a loan until you are satisfied with the terms and conditions.
How much can I borrow?2019-05-01T11:01:13+08:00

For secured loans, you can obtain a loan of any amount.

For unsecured loans, you can obtain:

  • If your annual income is less than S$10,000, you can borrow up to S$3,000 if you are a Singapore Citizens and Permanent residents, up to $1,500 if you are foreigners residing in Singapore
  • If your annual income is at least S$10,000 and less than S$20,000 you can borrow up to S$3,000 if you are a Singapore Citizens and Permanent residents, up to $3,000 if you are foreigners residing in Singapore
  • If your annual income is at least S$20,000 you can borrow up to 6 times your monthly income if you are a Singapore Citizens and Permanent residents, up 6 times your monthly income if you are foreigners residing in Singapore

Updated on 1 May 2019

What are the interest rates moneylenders can charge?2018-02-12T14:32:56+08:00

The maximum interest rate moneylenders can charge is 4% per month.
This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one.

If a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

The computation of interest charged on the loan must be based on the amount of principal remaining after deducting from the original principal the total payments made by or on behalf of the borrower which are appropriated to principal.

Example 1: If you takes a loan of $10,000, and has repaid $4,000, only the remaining $6,000 can be taken into account for the computation of interest.

Example 2:  If you takes a loan of $10,000, and fails to pay for the first instalment of $2,000, late interest will be charged on $2,000 only and not on the remaining $8,000 as it is not due yet.

What are the fees that moneylenders can charge?2018-02-07T10:18:58+08:00

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

  • A fee not exceeding $60 for each month of late repayment
  • A fee not exceeding 10% of the principal of the loan when a loan is granted
  • Legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also cannot exceed an amount equivalent to the principal of the loan.

Example: If you takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees cannot exceed $10,000.

How do I know whether a moneylender is licensed or not?2018-02-12T14:51:33+08:00

Do not borrow from unlicensed moneylenders.
Verify that a moneylender is licensed by checking the list of licensed moneylenders.
Click here to access the list of licensed moneylenders (OneMoney.com.sg)
Click here to access The Registry of moneylenders

If you are being harassed via telephone, SMS or e-mail by illegal moneylenders you can file a complaint to stop it.
The police are in charge of investigating scams such as unlicensed moneylending, scam messages, online betting and other general crimes.

  • File a police report through the Electronic Police Centre
  • The National Crime Prevention Council’s (NCPC) ‘X Ah Long’ Hotline at 1800-924-5664 (1800-X-AH-LONG)
How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?2018-02-12T15:09:03+08:00

Licensed moneylenders are permitted to advertise only through these three channels:

  1. business or consumer directories (in print or online media)
  2. websites belonging to the moneylender
  3. 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 which are not permitted, these would either be from licensed moneylenders operating in breach of the advertising restrictions, or from unlicensed moneylenders.

Hence, you are advised not to respond to such advertisements.

Instead, you should report the advertisements by providing a proof of the advertisements (for SMS – a screen capture) to the Registry of Moneylenders or to the Police.

You can contact the Registry of Moneylenders at telephone number: 1800-2255-529.

Can I rely on the content of an advertisement to take up a loan from a moneylender?2018-02-12T15:09:04+08:00

You must seek clarifications on specific terms of the loan contract before signing up with a licensed moneylender.
Do not rely solely on the content of advertisements from the moneylender.

What Should I Do after being granted a loan?2018-02-12T15:14:08+08:00

You are legally bind to fulfil any loan contract you enter into with a licensed moneylender.

Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.

  • Make sure the moneylender delivers to you the correct principal amount of the loan.
    The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan instalments on time to avoid incurring late payment fees and late interest.
  • Make sure the moneylender issues to you a dated and signed receipt every time you repay your loan or pay any fees in cash, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your loan(s) at least once every 6 months, and check it for correctness (e.g. name, amount, date)
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.
What should I do if the service level and practices of a moneylender is not acceptable?2018-02-12T15:14:19+08:00

Rules governing licensed moneylenders in Singapore are constantly improvising to encourage good business practices and better business models that can benefit borrowers.

Be mindful if they:

  • Use abusive language, or behave in a threatening manner towards you.
  • Ask for your SingPass user ID and/or password.
  • Retain your NRIC card or any other personal ID documents (e.g. driver’s licence, passport,work permit, employment pass or ATM card).
  • Ask you to sign on a blank or incomplete Note of Contract for the loan.
  • Grant you a loan without giving you a copy of the Note of contract for the loan and/or without properly explaining to you all the terms and conditions.
  • Grant you a loan without exercising due diligence (e.g. approving a loan over the phone, SMS or email before even receiving your loan application form and supporting documents, such as the income tax assessment and payslips).
  • Withhold any part of your principal loan amount for any reason.

Such practices are not acceptable.

If you encounter them, you should report the moneylender to the Registry of Moneylenders at telephone number: 1800-2255-529.

  • Rest assured that the Registry will not disclose your details to the moneylender without your consent.
  • To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide us with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender.
  • The Registry views complaints against moneylenders seriously and will investigate them thoroughly.
  • Errant moneylenders will be taken to task.

 

  • If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act.
  • The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.
How do I lodge a complaint against a moneylender against unfair practices and/or contract?2018-02-12T15:14:25+08:00

You can contact the Registry of Moneylenders at telephone number: 1800-2255-529.

Rest assured that the Registry will not disclose your details to the moneylender without your consent.

To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide them with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender.

The Registry views complaints against moneylenders seriously and will investigate them thoroughly.

Errant moneylenders will be taken to task.

If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act.

The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.

In the event that I am standing as a surety for a loan, what should I look out for?2018-02-12T15:14:30+08:00

You should ensure that:

  • You understand your responsibilities as a surety
  • You receive a copy of the Note of Contract at the time that the loan is granted to the borrower
  • The moneylender has explained the terms in the Note of Contract in a language that you understand
  • The moneylender does not keep your NRIC card or any other personal ID documents (e.g.driver’s licence, passport).

The moneylender does not acquire any information that contains passwords to your user accounts (e.g. Singpass account, Internet banking account, email account).

What is a Caveat?2018-02-07T09:34:41+08:00

A caveat is a legal document lodged with the authority by a person with an interest in land or property.
The effect of a caveat is to prevent any further or contradictory dealings with the property from being registered, serving as a “chope” to that property.

Consider carefully before agreeing to any contractual term which allows a licensed moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment.

When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full.

If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.

Important Note For Borrowers
Do you really need a loan today?

It can be expensive to taking up a loan and borrowing may not solve your financial problems.
If you really need to borrow, borrow only what you need that you can repay.
Do Not Borrow to pay off another debt.

Check out other financial assistance schemes

More on OneMoney Blog

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Rules governing licensed moneylenders in Singapore are constantly improvising to encourage good business practices and better business models that can benefit borrowers.

Better Protection for Borrowers
Authority had introduce an aggregate loan cap to set an overall limit on the amount that an individual may borrow from all licensed moneylenders in Singapore, combined. It will replace the present loan caps, which only limit the amount that an individual may borrow from any single moneylender.

The following caps will be introduced:

No more than $3,000 from all moneylenders combined for individuals earning less than $20,000 a year
No more than six times of individual’s monthly income from all moneylenders combined, for all other borrowers.