- Considerations before taking a loan Before approaching a moneylender, take into account other options, like the different financial assistance schemes provided by various Government agencies. You can consult with the agencies to find out more about their plans. You are officially obliged to fulfil any loan contract you enter into with a licensed moneylender. Look at whether you have the ability to abide by the contractual terms, keeping in mind your income and financial liabilities. Borrow basically what you need to have and have the ability to repay. Be conscious that if you are not capable to satisfy the contractual terms, the late payment fees and interest repayment will be a financial strain not just on yourself but in addition on your family. The regulation entails moneylenders to spell out the terms of a loan to you in a language you comprehend and to provide you with a copy of the loan agreement. Confirm you fully comprehend the terms of the contract, especially, the installment schedule, the interest rate charged and the fees applicable. Think about carefully before conceding to any contractual term which gives a moneylender to lodge a caveat on the sale proceeds of your real estate property at the time of default of the loan repayment. When a caveat is lodged against your property, you will definitely not manage to sell it without first paying back the moneylender completely. It can wipe out all or a significant part of the proceeds if the settlement is taken from the net proceeds from the sale of the property. You should look around several moneylenders for the best favourable terms. You should not hurry into and commit yourself to a loan unless you are pleased with the terms and conditions . - The amount of money can you borrow from a licensed money lender? For secured loans, you can acquire a loan of any amount. For unsecured loans, you can obtain: Up to $3,000, in the event that your yearly income is below $20,000; As much as 2 months' income, in the event that your yearly income is $20,000 or more but no more than $30,000; As high as 4 months' income, when your annual income is $30,000 or more but less than $120,000; and Any amount, if your annual income is $120,000 or higher. - Rates That Money Lenders can Charge With effect from 1 October 2015, the maximum lending rates moneylenders can charge is 4% monthly. This cap applies no matter what the borrower's income and whether or not the loan is an unsecured or secured one. If a borrower fails to repay the loan punctually, the maximum rate of late interest a moneylender can charge is 4% monthly for every month the loan is paid off 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 full payments made by or on behalf of the borrower which are appropriated to principal. [To illustrate , if X takes a loan of $10,000, and X has repaid $4,000, only the remaining $6,000 can be taken into consideration for the calculation of interest.] The late interest can only be charged on an amount that is repaid late. The moneylender can not charge on amounts that are outstanding but not yet due to be repaid. [ To illustrate, if X takes a loan of $10,000, and fails to pay for the first instalment of $2,000, the moneylender may charge the late interest on $2,000 but not on the remaining $8,000 as it is not due yet. ] - Fees That Money Lenders Can Request With effect from 1 October 2015, all moneylenders are only permitted to impose the following expenses and charges : a fee not exceeding $60 for each and every month of late repayment; a fee 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 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 can not exceed an amount equivalent to the principal of the loan. [To illustrate, if X takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees can not exceed $10,000.] - How Do I verify if a money lender is licensed by Ministry of Law? Do not get a loan from unlicensed moneylenders. Authenticate that a moneylender is licensed by checking the list of licensed moneylenders. "Click here to access the list of licensed moneylenders." Notwithstanding that the moneylenders are accredited, be mindful if they: Use profane language, or behave in a intimidating 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 incomplete or blank Note of Contract for the loan. Grant you a loan in the absence of giving you a copy of the Note of contract for the loan and/or without adequately 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 getting your loan application and supporting documents, for example, the income tax assessment and payslips). Withhold any portion of your principal loan amount for any reason. This type of practices are not tolerable. In the event that you come across them, you should report the moneylender to the Registry of Moneylenders, with information such as the moneylender's business contact, name and licence numbers. Please see Question 10 for more details. - Singapore Regulations On Money Lending Advertising Licensed moneylenders are allowed to market only through these three channels: ( a) business or consumer directories (in print or online media);. ( b) websites belonging to the moneylender; and. ( c) advertisements positioned 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 adverts which are not authorized, these would either be from licensed moneylenders operating in violation of the marketing restrictions, or from unlicensed moneylenders. Hence, you are advised not to react to such advertisements. In fact, you should report the ads by giving us with a proof of the advertisements (for SMS-- a screen capture) to the Registry at e-mail address: OneMinLaw@mlaw.gov.sg or to the Police. Take into consideration carefully prior to agreeing to any contractual term which makes it possible for a moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment. 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. To make clear, if X takes a loan of $10,000, and fails to pay for the first instalment of $2,000, the moneylender can charge the late interest on $2,000 but not on the remaining $8,000 as it is not due. The full charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also can not go beyond an amount equivalent to the principal of the loan. To illustrate, if X takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees can not exceed $10,000.
Screenshot (20).png
883 NORTH BRIDGE ROAD SOUTHBANK SINGAPORE 198785
We provide various types of financial loans to Singaporeans, permanentresidents of Singapore and ...
101_credit_loan_logo-300x150.png
101 UPPER CROSS STREET PEOPLE’S PARK CENTRE SINGAPORE 058357
We provide various sorts of financial loans to Singaporeans, permanentresidents of Singapore and ...
1133_moneylenders_logo-300x150.png
262 BALESTIER ROAD OKIO SINGAPORE 329714
For personal, payday and business loan solutions from Singapore’s top licensed moneylender,...
a1-credit.jpg
1 TRAS LINK ORCHID HOTEL SINGAPORE 078867
We are a professional and fully licensed money lending company based in Singapore. We have been r...
ABi_credit_logo-300x150.png
185 TOA PAYOH CENTRAL SINGAPORE 310185
We are a expert and fully licensed money lending company based in Singapore. We have been quickly...
photo.jpg
101 UPPER COSS STREET #01-17 PEOPLE’S PARK CENTRE SINGAPORE 058357
Are you going through a financial unexpected emergency? Have you been struggling to obtain a quic...
ABM_creditz_logo-300x150.png
1 PARK ROAD PEOPLE’S PARK COMPLEX SINGAPORE 059108
We are a expert and fully licensed money lending company based in Singapore. We have been rapidly...
money-lenders-singapore-aero-credit-200x71.jpg
1 COLEMAN STREET THE ADELPHI SINGAPORE 179803
We have been managing and sustaining a vast expanding client base of substantial anddiversified c...
AKB_moneylenders_logo-300x150.png
150 LORONG 1 TOA PAYOH SINGAPORE 310150
Since our launching, we have been growing steadily in customers base providing customers with fle...
Alles_Autos_logo-300x150.png
133 NEW BRIDGE ROAD CHINATOWN POINT SINGAPORE 059413
For personal, payday and business loan services from Singapore’s premier licensed moneylend...
Screenshot (20).png
87 BUKIT TIMAH ROAD TAN KONG TIEN BUILDING SINGAPORE 229834
For personal, payday and business loan services from Singapore’s premier licensed moneylend...
Screenshot (20).png
SERANGOON ROAD SINGAPORE 218084
We are a professional and fully licensed money lending company based in Singapore. We have been q...
Screenshot (20).png
128 ANG MO KIO AVENUE 3 SINGAPORE 560128
We are a licensed and legal money lender in Singapore. We consisted of a core group of profession...
Screenshot (20).png
185 TOA PAYOH CENTRAL SINGAPORE 310185
Are you undergoing a financial emergency situation? Have you been struggling to get a quick loan ...
ban-king-credit-singaopre-logo-200x102.png
705 ANG MO KIO AVENUE 8 SINGAPORE 560705
We have been dealing with and sustaining a vast expanding client base of substantial anddiversifi...
ScreenHunter_59-Mar.-30-15.30-e1459323193461.jpg
4.00 (1 review)
11 COLLYER QUAY THE ARCADE SINGAPORE 049317
We are a expert and fully licensed money lending company based in Singapore. We have been rapidly...
btnbg.jpg
801 FRENCH ROAD SINGAPORE 200801
We composed of acore group of professionals that provide loans to tailor to all your needs. Call ...
download.jpg
810 GEYLANG ROAD CITY PLAZA SINGAPORE 409286
At one point or another, each of us has had the need toraise a substantial sum of money on short ...
capital_funds_investments_logo-300x150.png
65 UBI CRESCENT HOLA CENTRE SINGAPORE 408559
We provide various sorts of financial loans to Singaporeans, permanentresidents of Singapore as w...
logo2.gif
726 ANG MO KIO AVENUE 6 SINGAPORE 560726
We consisted of acore group of professionals that provide loans to tailor to all your needs. Call...
download.png
810 GEYLANG ROAD CITY PLAZA SINGAPORE 409286
At one point or another, all of us has had the need toraise a substantial sum of money on short n...
Cash Mart.jpg
BALESTIER ROAD SINGAPORE 329726
For personal, payday and business loan services from Singapore’s leading licensed moneylend...
cash-max-credit-pte-limited.png
810 GEYLANG ROAD CITY PLAZA SINGAPORE 409286
Since our opening, we have been developing continuously in customers base providing customers wit...
Screenshot (20).png
200 JALAN SULTAN TEXTILE CENTRE SINGAPORE 199018
At some point or another, everyone of us has had the need toraise a substantial sum of money on s...
Screenshot (20).png
101 UPPER CROSS STREET PEOPLE’S PARK CENTRE SINGAPORE 058357
We are a professional and fully licensed money lending company based in Singapore. We have been q...
credit-king-pte-ltd-logo.png
101 UPPER CROSS STREET PEOPLE’S PARK CENTRE SINGAPORE 058357
We have been managing and sustaining a considerable growing customer base of substantial anddiver...
credit_thirty3_logo-300x150.jpg
801 FRENCH ROAD SINGAPORE 200801
Since our launching, we have been progressing steadily in customers base providing customers with...
download.png
5001 BEACH ROAD GOLDEN MILE COMPLEX SINGAPORE 199588
we aim to achieve each and every one of our customers’ needs and wants. We are a licensed m...
Credit review sign.png
3 COLEMAN STREET PENINSULA SHOPPING CENTRE SINGAPORE 179804
At some point or another, each of us has had the need toraise a substantial sum of money on short...
mylogo.png
801 FRENCH ROAD SINGAPORE 200801
We have been dealing with and maintaining a considerable expanding client base of substantial and...
Credit review sign.png
SENOKO DRIVE SINGAPORE 758249
Have you been struggling to get a quickloan from your bank before the next payday? Do you wish yo...
logo.png
GEYLANG ROAD SINGAPORE 389636
We comprised of acore group of professionals that provide loans to tailor to all your needs. Appl...
empire90credit.png
BLK 503 TAMPINES CENTRAL 1 SINGAPORE 520503
We are legal money lender is a professional and fully licensed moneylending company based in Sing...
emvertex_logo-300x150.png
200 JALAN SULTAN TEXTILE CENTRE SINGAPORE 199018
For personal, payday and business loan services from Singapore’s top licensed moneylender, ...
ethoz_logo-300x150.jpg
BUKIT BATOK CRESCENT SINGAPORE 658075
For personal, payday and business loan services from Singapore’s top licensed moneylender, ...
ez.png
GEYLANG ROAD SINGAPORE 389663
Have you been struggling to get a quickloan from your bank before the next payday? Do you wish yo...
71965_logo_0_15492215.jpg
129 BEDOK NORTH STREET 2 SINGAPORE 460129
At some point or another, each of us has had the need toraise a substantial sum of money on short...
Credit review sign.png
470 NORTH BRIDGE ROAD BUGIS CUBE SINGAPORE 188735
Are you undergoing a financial unexpected emergency? Have you been having a hard time to get a qu...
Credit review sign.png
170 UPPER BUKIT TIMAH ROAD BUKIT TIMAH SHOPPING CENTRE SINGAPORE 588179
For personal, payday and business loan services from Singapore’s premier licensed moneylend...
galaxy-credit-investments-pte-ltd.png
BLK 709 ANG MO KIO AVENUE 8 SINGAPORE 560709
We are legal money lender is a professional and fully licensed moneylending company based in Sing...
gee_credit_logo-300x150.png
211 NEW UPPER CHANGI ROAD SINGAPORE 460211
At one point or another, each of us has had the need toraise a substantial sum of money on short ...
GALogo1.gif
185 TOA PAYOH CENTRAL SINGAPORE 310185
For personal, payday and business loan services from Singapore’s leading licensed moneylend...
Golden-Credit-Logo-Rectangle.png
101 UPPER CROSS STREET PEOPLE'S PARK CENTRE SINGAPORE 058357
We have been managing and maintaining a substantial expanding customer base of diversified and su...
logo.png
BLK 178 TOA PAYOH CENTRAL #01-202 SINGAPORE 310178
For personal, payday and business loan services from Singapore’s top licensed moneylender, ...
Credit review sign.png
JOO CHIAT ROAD GV BUILDING SINGAPORE 427395
For personal, payday and business loan solutions from Singapore’s leading licensed moneylen...
Credit review sign.png
BLK 450 LORONG 6 TOA PAYOH HERSING CENTRE SINGAPORE 319394
We are legal money lender is a fully licensed andprofessional moneylending company stationed in S...
download.png
77 KAMPONG BAHRU ROAD SINGAPORE 169376
For personal, payday and business loan solutions from Singapore’s top licensed moneylender,...
Credit review sign.png
189 SELEGIE ROAD SELEGIE CENTRE SINGAPORE 188332
We are a professional and fully licensed money lending company based in Singapore. We have been r...
Credit review sign.png
2 JOO CHIAT ROAD JOO CHIAT COMPLEX SINGAPORE 420002
We are a licensed and legal money lender in Singapore. We consisted of a core group of profession...
hsx-credit-mini-logo.png
BLK 704 ANG MO KIO AVE 8 SINGAPORE 560704
We composed of acore group of professionals that provide loans to tailor to all your needs. Apply...
4479-large.png
159 SIN MING ROAD AMTECH BUILDING SINGAPORE 575625
We are legal money lender is a professional and fully licensed moneylending company located in Si...
iCredit_logo-2 (1).png
210 HOUGANG STREET 21 SINGAPORE 530210
We are a professional and fully licensed money lending company based in Singapore. We have been q...
logo9.png
BLK 185 TOA PAYOH CENTRAL SINGAPORE 310185
We are legal money lender is a professional and fully licensed moneylending company located in Si...
download.jpg
531 UPPER CROSS STREET HONG LIM COMPLEX SINGAPORE 050531
We provide loan and moneylending services. We offer loans toSingapore residents, PR and foreigner...
Credit review sign.png
756 UPPER SERANGOON ROAD UPPER SERANGOON SHOPPING CENTRE SINGAPORE 534626
We are a legal and licensed money lender in Singapore. We consisted of a core group of profession...
logo.png
711 ANG MO KIO AVENUE 8 SINGAPORE 560711
We are a legal and licensed money lender in Singapore. We consisted of a core group of profession...
Credit review sign.png
5001 BEACH ROAD GOLDEN MILE COMPLEX SINGAPORE 199588
We provide loan and moneylending services. We offer loans toSingapore residents, PR and foreigner...
JR-Star-2015.png
131 JURONG GATEWAY ROAD SINGAPORE 600131
We are a fully licensed and professional money lending company based in Singapore. We have been r...
Credit review sign.png
SERANGOON ROAD SINGAPORE 218085
We are a expert and fully licensed money lending company based in Singapore. We have been quickly...
kbb-300x150.jpg
279 BALESTIER ROAD BALESTIER POINT SINGAPORE 329727
For personal, payday and business loan services from Singapore’s top licensed moneylender, ...
Credit review sign.png
1 NORTH BRIDGE ROAD HIGH STREET CENTRE SINGAPORE 179094
For personal, payday and business loan solutions from Singapore’s leading licensed moneylen...
Credit review sign.png
50 NORTH CANAL ROAD SINGAPORE 059304
Since our opening, we have been growing continuously in customers base providing customers with f...
Credit review sign.png
SERANGOON ROAD SINGAPORE 218085
We are legal money lender is a professional and fully licensed moneylending company based in Sing...
KST-Logo2.jpg
183 TOA PAYOH CENTRAL SINGAPORE 310183
Since our launching, we have been growing continuously in customers base providing customers with...
Credit review sign.png
25 NORRIS ROAD SINGAPORE 208267
We are a legal and licensed money lender in Singapore. We consisted of a core group of profession...
Credit review sign.png
JALAN JURONG KECHIL SINGAPORE 598599
We provide loan and moneylending services. We offer loans toSingapore residents, PR and foreigner...
logo (1).png
101 UPPER CROSS STREET PEOPLE'S PARK CENTRE SINGAPORE 058357
We provide various types of financial loans to Singaporeans, permanentresidents of Singapore and ...
Max-Credit_6064_image.jpg
1 SOPHIA ROAD PEACE CENTRE SINGAPORE 228149
Have you been struggling to get a quickloan from your bank before the next payday? Do you wish yo...
logo.jpg
217 BEDOK NORTH STREET 1 SINGAPORE 460217
Have you been struggling to get a quickloan from your bank before the next payday? Do you wish yo...
motorway.png
LOWER DELTA ROAD MOTORWAY BUILDING SINGAPORE 169205
We have been managing and maintaining a considerable growing client base of diversified and subst...
Credit review sign.png
3 PHILLIP STREET ROYAL GROUP BUILDING SINGAPORE 048693
We are a licensed and legal money lender in Singapore. We comprised of a core group of profession...
Credit review sign.png
50 EAST COAST ROAD ROXY SQUARE SINGAPORE 428769
At some point or another, every one of us has had the need to raise a substantial sum of money on...
online-credit.png
BLK 210 NEW UPPER CHANGI ROAD SINGAPORE 460210
At one point or another, everyone of us has had the need to raise a substantial sum of money on s...
logo.png
810 GEYLANG ROAD CITY PLAZA SINGAPORE 409286
We are a expert and fully licensed money lending company based in Singapore. We have been rapidly...
Credit review sign.png
77 HIGH STREET HIGH STREET PLAZA SINGAPORE 179433
Have you been struggling to get a quick loan from your bank before the next payday? Do you wish y...
Credit review sign.png
77 HIGH STREET HIGH STREET PLAZA SINGAPORE 179433
At some point or another, each of us has had the need to raise a substantial sum of money on shor...
Credit review sign.png
250 NORTH BRIDGE ROAD RAFFLES CITY TOWER SINGAPORE 179101
Are you undergoing a financial unexpected emergency? Have you been struggling to get a quick loan...
pit-stop logo.gif
200 JALAN SULTAN TEXTILE CENTRE SINGAPORE 199018
For personal, payday and business loan services from Singapore’s top licensed moneylender, ...
Credit review sign.png
77 HIGH STREET HIGH STREET PLAZA SINGAPORE 179433
Are you undergoing a financial unexpected emergency? Have you been having a hard time to obtain a...
Credit review sign.png
61 UBI AVENUE 2 AUTOMOBILE MEGAMART SINGAPORE 408898
We provide loan and moneylending services. We offer loans to Singapore residents, PR and foreigne...
dPGLU.jpg
186 TOA PAYOH CENTRAL SINGAPORE 310186
We consisted of a core group of professionals that provide loans to tailor to all your needs. App...
quick_loan_101_logo-300x150.png
10 ANSON ROAD INTERNATIONAL PLAZA SINGAPORE 079903
We have been managing and maintaining a substantial growing customer base of substantial and dive...
QVCredit-logo.png
175A Bencoolen Street Burlington Square Square 189650
At one point or another, each of us has had the need to raise a substantial sum of money on short...
logo1.png
BLK 846 YISHUN RING ROAD SINGAPORE 760846
We are a expert and fully licensed money lending company based in Singapore. We have been quickly...
Credit review sign.png
77 HIGH STREET HIGH STREET PLAZA SINGAPORE 179433
We are a fully licensed and professional money lending company based in Singapore. We have been q...
Credit review sign.png
228 CHANGI ROAD ICON@CHANGI SINGAPORE 419741
We have been dealing with and maintaining a substantial expanding customer base of diversified an...
Credit review sign.png
UPPER DICKSON ROAD SINGAPORE 207488
Since our launching, we have been progressing steadily in customers base providing customers with...
Credit review sign.png
BENOI ROAD PIONEER LOT SINGAPORE 627788
We consisted of a core group of professionals that provide loans to tailor to all your needs. Cal...
Credit review sign.png
43A CAMPBELL LANE SINGAPORE 209915
At some point or another, everyone of us has had the need to raise a substantial sum of money on ...
download.png
201D TAMPINES STREET 21 SINGAPORE 524201
At one point or another, each of us has had the need to raise a substantial sum of money on short...
Credit review sign.png
711 ANG MO KIO AVENUE 8 SINGAPORE 560711
We provide loan and moneylending services. We offer loans to Singapore residents, PR and foreigne...
Credit review sign.png
10 JALAN BESAR SIM LIM TOWER SINGAPORE 208787
Since our opening, we have been progressing continuously in customers base providing customers wi...
Credit review sign.png
25 NORRIS ROAD SINGAPORE 208267
We offer loan and moneylending services. We offer loans to Singapore residents, PR and foreigners...