Legal and Licensed Money Lender in Singapore
Sometimes, we just need a little bit of extra cash to help us tide through the tough days. When in need of urgent financial assistance, Singaporeans can feel lost and desperate, sometimes turning to illegal means of moneylending, such as loan sharks.
With our licensed money lenders, getting a loan is fast, easy and most importantly, completely legal. Licensed money lenders in Singapore are regulated by the Registry of Moneylenders within the Ministry of Law. The Ministry conducts stringent and regular checks on these money lenders, ensuring they conduct their business ethically and fairly.
You are strongly advised against taking loans from illegal moneylenders, as they can pose serious security risks if they harass you – or your family – for repayment. Legal money lenders should not threaten you or harass you in any way.
Unlike banks, which have more stringent criteria for loans, these legal money lenders can provide loans within the day. This makes these money lenders a popular solution for those who need a lump sum urgently. A licensed money lender is ideal for smallers loans that are needed due to an emergency, such as to fix a car or paying hospital bills. A licensed money lender is not ideal for a large, long-term loan, such as to purchase a property.
Time is Money
With our informative directory, your search for the perfect legal money lender in Singapore can be done with the click of a button, saving you time in possibly urgent situations.
Our extensive directory of licensed money lenders is well-known and trusted by many Singaporeans. Some of them could bail themselves out of desperate situations because of the easy loan!
The interest rates of our legal money lenders are one of the most competitive in the market. That is our guarantee that you will get the best out of our directory.
LicensedMoneyLender.sg is your online directory to legal money lenders in Singapore. We offer accurate, reliable, and updated information about licensed money lenders, and aim to be the direct bridge that connects legal money lenders to borrowers. All money lenders listed on this site are legal, and registered under the Registry of Moneylenders. Our directory is strictly non-biased, and lists all reputable legal money lenders in Singapore. We update our list of licensed money lenders through community-based reviews and recommendations, so you can be certain you’re looking at a great list of licensed money lenders in Singapore.
To gain access to all the content on our website, we highly recommend you sign up for an account. Members will receive exclusive financial offers, and constant updates about our legal money lenders. Our friendly and caring team of online representatives can help you resolve any issue you may face while using our portal. Simply reach out to them via out contact form.
To apply for a loan, approach one of the legal money lenders in our directory. You will need to bring along the following documents: Your IC, pay slips from your last 3 months, a letter of employment, a confirmation letter by your employer, and a bill with your name and address on it.
The amount you are eligible to loan will depend on your income; the more you earn per month, the more you can borrow. The money lender will then discuss the full terms of your loan in a language that you understand, along with the methods and frequency of repayment. Different legal money lenders charge different interest rates, and can offer different repayment schemes. Only sign on the contract if you are agreeable to all the stated terms. You will likely be granted cash on the spot, along with a copy of the contract for your reference.
Your moneylender should not retain your NRIC or other personal documents, nor ask for access to any personal online accounts (such as email or SingPass) during this process. There will be a loan fee that is charged, along with interest rates that are agreed upon.
During the repayment process, your legal money lender will send you a statement of account at least once every six months.