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Best Licensed Money Lenders in Singapore - #1 Loan Directory in Singapore | Loan Singapore
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Best Licensed Money Lenders in Singapore

Address: 2 Havelock Road #02-08 Havelock II Singapore 059763
Phone: 6336 0833
Licence No.: 17/2019
220 Orchard Road #01-08 Midpoint Orchard Singapore 238852
Phone: 6235 1788
Licence No.: 83/2019

Best Licensed Money Lenders in Singapore

Personal and economic crises can come along when you least expect them. Perhaps you need to borrow fast cash today, to deal with sudden financial obligations.

In such times of need, the most secure and best source of financing would be a reliable bank or a licensed moneylender in Singapore.

For immediate borrowings, we recommend that you approach  licensed moneylenders, as they have official approval to issue short-term loans. They also process loan applications faster than the big banks, most can get a loan application approved for you within the day.

With so many agencies around, it can get confusing. Our goal is to help borrowers by reviewing only the top qualified lenders for their use. This information should help you find one who can meet your borrowing needs. Have a look at the past reviews for those featured in our list.

Each licensed moneylender listed here is verified to have met these following requirements:

  • No-obligation inquiry on loans through form application
  • Fast and convenient 30-min cash loan processing
  • Versatile monthly instalment plans for repayment within five months

Our list introduces legal moneylenders who are known to provide excellent financial assistance to borrowers. You could check online government listings for all the licensed agencies out there. But if you’re only looking for the most reliable ones, you needn’t look further.

We aim to offer the most useful business directory of moneylenders in Singapore. The key is that we first established whether our choices are licensed to offer loans, before personally reviewing their credibility as well as their services. You only have to approach a lender from among those listed to be assured of reasonable fees and quality service.

Things To Take Note When Taking Loan From a Licensed Money Lender

Impersonating a legal licensed moneylender in Singapore by illegal moneylenders such as loan sharks is not something unheard of. In fact, if someone approaches you via Whatsapp or SMS with a quick loan advertisement, the person is highly likely to be operating an illegal moneylending business because there are strict guidelines for moneylenders to advertise their services.

Of course, if the deal is too good to be true, using abusive languages or the party request for your Singpass and password over the phone, you should be wary of such practices. The need to protect yourself is much greater than the need to resolve a financial problem.

Here we share some of the key information that you need to take care when you are taking a loan.

Thoughts When Taking A Loan

You need to remember these key points:

  • Before visiting a legal moneylender, look at other alternatives. This can be a different financial help scheme from various Government agencies. You can contact these agencies for more information about their programs.
  • Legally you have to repay any installment on loan. This is based on the contract you sign with licensed moneylenders.
  • Consider if you can stick to the contractual terms. Consider your wages and financial commitments. Borrow what you require and can repay. Remember that when you cannot meet the agreement terms. Late payment costs and interest payment can be a financial strain. This can affect both your family and you too.
  • By law legal moneylenders should explain the loan terms to you. They should use a language you easily understand. They should also offer you a copy of your loan contract. Ensure you completely understand the contract terms. Mostly, the interests charged, and repayment schedule. This is in addition to the costs applicable.
  • Consider carefully before you accept any contractual terms. More so that allows a moneylender to set a caveat. That is on sale returns of your property. This is in case of default on loan repayment. Once a caveat gets lodged on your property. It means selling it without repaying your moneylender. It will not be possible. If the repayment gets deducted from the proceeds from the sale of your property. This can clear out all or a big portion of these proceeds.

Fees That Licensed Moneylenders May Charge

Effective 1st October 2015. Moneylenders may impose the below expenses and charges:

  • A charge not more than $60 for every month of late payment;
  • A charge not more than 10% admin fee. This is of the initial amount of the loan as it was first granted; and
  • Legal charges ordered by a court for any successful claim done by a moneylender. This is for recovery of your loan.

The total fees imposed by moneylenders on any loan. These include interest, upfront processing fees. Others are late interest, and late fees. These cannot exceed the amount equal to the initial loan. That is of the personal loan you borrowed.


Ascertain that the moneylender offers you the correct principal amount of the personal loan. The licensed moneylender is only allowed upfront deductions of the approval fee. This is about 10% of your initial amount. You need to retain all account statements and the receipts of payments. This act as the confirmation and evidence of payments. If you are unsure, always check the reviews of moneylenders in Singapore to ensure you are getting the best one.

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