Licensed Money Lender in Singapore

Thinking of applying for a personal loan in Singapore?

We have sourced a list of licensed money lenders in Singapore that are highly reviewed and trusted by many satisfied customers - all of which are registered with the Ministry of Law, Singapore. You can check the registry of money lenders for the full list of active licensed money lenders in Singapore. The list is periodically updated to include any recently suspended money lenders in the country.

This service is available for Singaporean and PR only, foreign worker are not eligible.

Submit your details and get your loan quote instantly

Kindly note, that by submitting this application form, you are allowing CompareSing access to your given information. CompareSing will use your information to get loan quotes from a list of pre-vetted licensed moneylenders in Singapore. Upon submission of this form, you are consenting to sharing your contact information to the respective moneylenders to contact you through your number and email regarding your loan enquiry. Personal details submitted through this website are handled with strict confidentiality as per our Privacy Policy

Look at some of the attractive & flexible loan plans provided by legal money lenders to our previous customers:
Loan Type Personal Loan Business Loan Micro Loan (Short-Term) Debt Consolidation Loan Credit Cards Consolidation Loan Renovation Loan Medical Loan Private Hire/Taxi Loan
Amount $4000 $30000 $1000 $15000 $10000 $20000 $6000 $3000
Month(s) 8 12 3 12 12 12 8 6
Per Installment $592.07 $3,181.13 $359.78 $1,590.56 $1,060.38 $2,120.75 $888.1 $570.73
→ Scroll for view full table...

How to Apply For A Loan From A Licensed Money Lender in Singapore

Step 1

Submit for loan quotation

You can fill out an online form right here on our website to get a quote. To best suit your needs, the form will reach our selected licensed money lenders in Singapore within minutes. The licensed money lender(s) will contact you shortly, as fast as 5 minutes!

Step 2

Choose your loan quotes

It’s important to choose a suitable licensed money lender in Singapore and the quote offered to you. Compare their interest rates and payment terms with other options on your hand. Companies with high reviews and testimonials are often a good sign that their clients trust the licensed money lender.

Step 3


Schedule an interview with your chosen licensed money lender. Before you can receive a loan, you’ll need to be interviewed by a loan officer. The purpose of this interview is to assess your financial situation and to determine a loan that is suitable to your needs.

Step 4

Finalise your loan

Finalise your loan amount and terms in the money lender’s office in Singapore. The loan officer will take this time to brief you on the contract. This is a good time to inquire about any other miscellaneous charges such as late repayment fees.

Step 5

Receive your cash loan

Finally, once your loan is approved, you will be able to receive your loan in cash on the spot of your visit.

Customer Reviews

Our legal money lenders in Singapore have provided suitable loan quotes that have best suited our customers’ requirements, alongside quality service with professional standards you can trust. Hear from our customers below!

Moneylenders Singapore - CompareSing | Loan Quotes Platform | Fast Cash Loan
Dexter Lee
a year ago
I needed a loan and was lost with so many different banks and licensed moneylenders rates and charges out there. I am so glad I ca... read moreme upon CompareSing this website help me to smoothen out the process without me needing to call every companies and ask for a loan. They even help me get quotes for the cheapest and most flexible plans and approve me 3 times of my monthly income. It help me to consolidate all my outstanding debts to one company for convenience too. I will definitely recommend it to friends.
a year ago
Due to some unforeseen circumstances in my business, I was searching for some funding aid but it was truly a hassle to find a need... read morele in the haystack. Came across Comparesing and tried their service as it’s free to use. The most impressive part of this service is the response time is almost immediately. I got my quotes from multiple finance institutions within minutes! They provide very detail quotations for me that helps my selection easier. I was offered a loan amount almost 3 times of my income and it really helps me to be able to clear quite a number of my other loans.Kudos to Comparesing for your assistance. You’re a life saviour!
Liong Sin Yeong
a year ago
Because of my parent medical fees , i had no choice but to approach every bank that i can but was failed as the process time was w... read moreay too long and i’m in need of it urgently. fortunately, i came across this company and i am amazed by how friendly and patient the staffs are. they explained every single details to me clearly and making sure that i do not miss any part of it. apart from that, they are fast and effective too. i’ll definitely intro to those who are in urgent needs around me. I was able to get debt consolidation loans. And able to get 10 months repayment plan I’m really grateful.
eileen ho
a year ago
My fiancee and I truly appreciate the help from comparesing, we needed a loan for our upcoming event. We did went to enquire from ... read morevarious banks and the process usually takes few days for them to confirm our loan approval, and my fiancée came across this platform at first we doubt that would be in any help for us. But we gave it a try and we didn’t regret making this choice. They will discuss with us how much are we comfortable in paying a month and at the end they provide us with a 20k loan with 12 months repayments! Will definitely recommend any of my friends if they need ☺️
Priscilla Chan
a year ago
due to some unforeseen finance problem i had over for my business. i had to approach every banks but unfortunately, their responsi... read moreve was slow and it need days for the approval. until i came across this company and i’m really very impress by how they serve a customer. they are friendly and nice, patiently going through each and every details with me as i don’t understand it. i’m also impressed by how fast and effective they are with getting me the quotations for me. the company was good enough to give me a 10k loan with a monthly installments for 10 months. each installment is at $1227.80. thank u very much! will definitely intro to ppl around me who are in urgent needs like me.

About Comparesing

CompareSing lets loan seekers search and compare loans from licensed money lenders in Singapore. Free to use for a limited time period, our platform brings you some of the best loan rates from legal and SG-registered money lenders. In a nutshell, CompareSing compiles the interest rates, processing fees and other important information pertaining to loans from various licensed money lenders in the Singapore market for you to compare and make an informed decision that best addresses your needs. We make it hassle-free for CompareSing users to find for themselves the right money lender. As we do not receive any monetary exchange from any licensed money lender in Singapore, we remain completely unbiased in our results.

Our goal is to help you simplify your search. We hunt and search for the best licensed money lender for you. With our variety of loan providers, we can provide a more diverse range of loans for our users. These include anything from personal and credit card loans to debt consolidation loans. Do note that when you use our site to compare loans, we will provide you results from both financial institutions like banks as well as licensed money lenders.

Since these legal money lenders are legitimate and highly-reviewed loan providers in Singapore, verified by our team of loan experts, you can trust that all results provided for your comparison are as straightforward as they can be. There are no hidden fees or gimmicks. However, money lender quotes received are not finalised, as users will have to make an appointment to visit the money lender for credit assessments to get an accurate quote.

How to find a licensed money lender near me?

You can use our platform to find a legal loan provider near your residential location or business address easily via our locations tab!

Private Hire/Taxi Loan

Wedding Loan

Renovation Loan

Medical Loan

Bridging Loan

Study Loan

Debt Consolidation Loan

Business Loan

Personal Loan

Vacation Loan

Things to consider when taking a personal loan in Singapore

It is advisable to know how much money you are in need of before you visit a money lender in Singapore. We also recommend only sourcing for loans that you need, nothing more. As loans become a personal responsibility, it would be a financial liability if you take up a loan larger than what you’re comfortable repaying.

What are the things to consider?
  1. You need to be between 18 and 65 years of age, self-employed or employed full-time contributing to your CPF every month.
  2. Gather the documentation that may be required for you to apply for youra personal loans in Singapore;
    • For Singaporean and PR:
    • 1. Proof of identity; NRIC
    • 2. SingPass login credentials to check your monthly CPF contributions, and NOA.
    • 3. Latest 3 months income proof (for self-employed).
    • For Foreign worker:
    • 1. Proof of employment; employment contract, work permit, S or E pass and Passport.
    • 2. Proof of residency; tenancy agreement or a bill addressed to you the applicant.
    • 3. Latest 3 months payslips
  3. Consider the repayment duration of a personal loan in Singapore. The licensed money lender in Singapore will suggest largely based on your monthly income, and how high an interest rate you can afford. That said, you are advised to clear the loan as soon as possible, in the interests of your finances.
  4. Since most personal loans are unsecured, you do not have to put any collateral as a security mechanism, but it usually means higher interest rates than those of secured loans.
  5. Compare interest rates and fees, make sure you check both. Licensed money lenders in Singapore will have a higher approval rate but with a higher interest rate and processing fee.
  6. Inquire about late payment fees. Not all licensed money lenders charge the same. If you fail to repay your loan in time, late payment fees may rise very high, and increase your debt significantly.
  7. Choose your money lender wisely. If you are looking to take up a loan from a licensed loan provider in Singapore, make sure that they are in fact licensed. You can cross-check their company name and license number through the Ministry of Law - Registry of Moneylenders or here. The list is updated periodically to include those who have been recently suspended.

CompareSing is not affiliated to nor do we receive compensation from any of the brands shown on this website. CompareSing is neither a licensed money lender nor bank, or associated in any way with the money lenders or banks found on this website.

General information:

CompareSing is a free-to-use platform. Personal details submitted through this website are handled with strict confidentiality.


Learn More

All you need to know about licensed money lenders in Singapore

What is a licensed money lender?

A licensed money lender is a private entity providing financial assistance to those seeking alternatives from bank loans, mortgage loans, or credit card loans. Unlike most bank loans, licensed money lenders in Singapore offer unsecured loans, which allows them to disburse loans as low as $200 whereas the minimum amount for a bank loan is $10,000.

What are the interest rates a licensed money lender in Singapore can charge?

The maximum interest rate a licensed money lender in Singapore can charge is 4% per month, based on the reducing principal balance calculation method. However, if payment is delayed, a maximum of 4% late interest fee per month will be incurred.

What other fees can a Licensed Money Lender charge?

All SG-licensed money lenders are permitted to impose the following charges:

  • A 10% administration fee of the principal of the loan.
  • A late fee not exceeding $60 per month of late repayment.
  • Legal costs ordered by the court for a successful claim by the money lender for the recovery of the loan.
How much money can I borrow from a Licensed Money Lender in Singapore?

According to the ministry guidelines, the credit limit for a Singaporean or PR borrower to loan across all licensed money lenders in Singapore is capped at a total of 6 times of the borrower’s monthly income who earns a total $20,000 or more a year. For annual income below $20,000, they can only loan up to $3000. Usually, loan officers will offer loans of 1 to 3 times of the borrower’s monthly income. Depending on the borrower’s preference, loan amounts can also range from as low as $200 to as high as $50,000.

What kinds of repayment/term plans does a Licensed Money Lender offer?

Licensed money lenders in Singapore offer a variety of term plans from weekly loans to monthly loans. Repayment duration of each loan will vary between 1 month to 12 months. Repayment plans are available depending on the borrower’s trade or preference: i.e. Jamie takes a personal loan of $3000 on 5th August with a 3-month repayment plan. She will pay for her loan on the 5th of every month for the next 3 months. Her payment schedule will fall on 5th September, 5th October and 5th November.

How can I make my payments? What are the payment methods available?

Upon receiving your loans, your loan officer will provide you with a name card with a bank account number printed on it. You can transfer payments through online banking or deposit your payment straight into the account provided. Alternatively, you may make your payments in cash at the office during office hours.

What happens when I have trouble meeting my payment due dates?

If you’re having troubles meeting your payments, you can inform your money lender and notify them of the earliest that you can make your payments. Please note that late fees, late interest and compound interests will be incurred in the event of a late repayment.

What are the requirements to take up a personal loan from a licensed money lender in Singapore?

Some basic requirements include:

  • Borrowers must be between 18 to 65 years of age.
  • Borrower must be Singaporean, PR or possess a valid foreign work pass (i.e. Work permit, S-pass, E-pass)
  • Borrower must be currently employed full-time or running their own business or freelance with a source of monthly income (e.g. Grab/Gojek drivers)
  • Borrowers must not be or have been declared bankrupt or DRS.
What documents do I need to bring along with me when I apply for a personal loan in Singapore?

You will need to bring these following documents:

  • Singaporeans and Permanent Residents: 18 Years old and above.
    • Proof of identity; NRIC
    • SingPass login credentials to check your monthly CPF contributions, and NOA.
    • Latest 3 months income proof (for self-employed).
  • Foreigners: 18 years old and above
    • Must be working and residing in Singapore.
    • Bring passport, proof of employment (Work permit, E-pass, S-pass, other proof of employment), proof of Income (latest 3 months’ Payslip), proof of residency (tenancy agreement or bills addressed to the applicant).
How can I apply for a personal loan in Singapore from a licensed money lender?

Fill out an application and select one or more companies from our list of recommended licensed money lenders in Singapore. You can expect replies within 30 minutes to schedule an appointment for an interview and loan processing. Alternatively, you can visit a licensed money lender of your choice and fill out an application on the spot in their respective loan office.

What is the loan process for a licensed money lender in Singapore?

It usually takes less than 30 minutes to get a personal loan in Singapore from a licensed money lender. The process starts with the application and an interview with a loan officer. During the interview, the loan officer will conduct a credit assessment and come up with a personal loan catered to your financial needs. Once the loan officer approves your loan application, your loan will be disbursed to you in cash, on the same day of your visit.

What type of loans do legal money lenders in Singapore offer?

Legal money lenders in Singapore offer various types of unsecured loans such as Personal Loans, Payday Loans, Micro Loans, Business Loans, Foreigner Loans, Bridging Loans, and Debt Consolidation Loans.

How will I know when my payments are due?

Your repayment dates will be stated in the contract that will be briefed to you by your respective loan officer before you receive your personal loans. Additionally, the loan office will send you reminders before your payment dues so that you’ll never miss them.

To what extent can a licensed money lender in Singapore take legal action against default payments?

In the event where the borrower becomes uncontactable, the money lender will send a debt recovery team to the borrower’s residential address. The lender will resort to taking legal action against the borrower if the borrower refuses to adhere to the debt recovery team. All licensed money lenders in Singapore are advised to follow The Professional Handbook on all aspects of money lending and debt recovery.