APPLY FROM THE LEGAL MONEYLENDER HERE TODAY!!!
Understanding Personal Loan?
Personal loans are typically offered by financial institutions such as banks or moneylenders which extend a line of extra cash to you that has to be repaid on a monthly or a certain repayment plan. As banks have a more stringent criteria, borrowing from licensed moneylenders is a more popular solution.
Are Licensed Moneylenders Reliable?
Licensed moneylenders in Singapore are regulated by the IPTO which conduct regular checks on moneylenders to ensure fair and reasonable loans to borrowers. As banks do not provide instant services, many prefer to approach licensed moneylenders as you can get cash as fast as on the day itself.
Licensed Moneylender | License no 23/2021
301 Ubi Ave 1, #01-279, Singapore 400301
Operating Hours: Monday to Friday: 11am – 7pm
Saturday: 11am – 6pm
*Walking 5 mins from Dhoby Ghaut MRT/Bras Basah MRT to here
Licensed Moneylender | License no: 143/2020
#01-37 Peace Centre, 1 Sophia Rd, Singapore 228149
Operating Hours: Monday – Saturday : 11am – 7pm
(Sundays & Public Holidays by Appointment Only)
* Walking 5 mins from Dhoby Ghaut MRT to here
Licensed Moneylender | License no 145/2020
1 Tras Link #01-11 Orchid Hotel Singapore 078867
Monday – Saturday : 11am to 7pm
(Sunday & Public Holidays by Appointment Only)
*Nearest MRT station Tanjong Pagar MRT (EW15)
Walking 2 mins from Exit A to here
Licensed Moneylender | License no 81/2020
799 Geylang Road #01-01 Singapore 389680
Operating Hours: Monday – Saturday : 11am to 6pm
Saturday 11am to 6pm
Close on Sunday and Public Holidays.
*Nearest MRT Station: Paya Lebar MRT (EW8/CC9)
Walking 3-5 mins from Exit D to here
Quick Loan Application
Apply for a loan from Singapore's Legal Money Lenders
Ever get strapped for cash? We understand. Sometimes, emergencies happen and you need the extra cash to help you get by. Singapore’s licensed money lenders are here to lend you a helping hand. Whether it’s to fix a car breakdown or to pay for an unexpected hospital bill, applying for a loan from legal money lenders in Singapore can be a simple solution until your finances stabilize.
However, some people are fearful of approaching Singapore’s licensed money lenders for a loan. Don’t worry. We’re here to help you understand how the process works.
Getting a Personal Loan
Personal loans are offered by financial institutions such as banks and legal money lenders in Singapore. These institutions extend a line of extra cash to you, to be repaid with a repayment plan. Often, repayments are due monthly.
However, as banks have to conduct stringent background checks before approving your loan, a licensed money lender in Singapore can prove to be a better alternative. Simply approach one of Singapore’s legal money lenders, and ask for a loan. The loan amount you are eligible for may vary depending on you income. You will be explained the full terms of the loan in a language you understand, along with the methods and frequency of repayment.
Approaching Singapore’s licensed money lenders is easy and fuss-free. You are likely to be able to be granted the cash on-the-spot. You will also be given a copy of the signed contract for your reference.
All licensed money lenders in Singapore are regulated by the Registry of Moneylenders, formerly known as the Insolvency and Public Trustee’s Office (IPTO). The registry conducts regular and stringent checks on Singapore’s licensed money lenders to ensure fair and reasonable loans to borrowers.
Things You Should Know on Borrowing:
|Minimum Period for Repayment||From 1 month|
|Maximum Period for Repayment||Up to 12 Months|
|Minimum Annual Percentage Rate||From 12% per annum|
|Maximum Annual Percentage Rate||Up to 48% per annum on reducing interest rate|
Sample Representation of Loan with Maximum Rates:
|Total Amount Borrowed||SGD 10,000|
|Time Period *||12 Months|
|Interest Rate **||1% Per Month|
|Annual Percentage Rate of Charge (APR) **||12% APR|
|Total Cost Payable Per Annual*** (excluding loan principle)||SGD 1,200|
* Time period is from minimum period of 2 months to maximum period of 12 months.
** Interest Rate may vary up to a maximum of 4% per month, depending on loan amount and period of repayment.
*** Total Cost Payable exclude administrative fee. Cost stated is an estimation and may vary due to loan amount, period of loan and other fees such as late fee and late interest rate may be charged in the event of violation on terms & conditions.
For more details, please contact our respective financial consultants