Which Are The Best Singapore Licensed Money Lenders Near Me?

Man researching on ‘best licensed money lenders near me’ on computer
checking blog post using mobile

Which Are The Best Singapore Licensed Money Lenders Near Me?

checking blog post using mobile
Man researching on ‘best licensed money lenders near me’ on computer



When you need an urgent cash loan, it’s natural for questions like ‘Which are the best licensed money lenders near me?’ and ‘Where can I find the best money lenders?’ to conjure up in your head.

The good news is that there are many good licensed money lenders in Singapore for you to choose from.

Looking for the best money lenders doesn’t have to be an arduous process or difficult task if you know how to utilise free tools available to you, such as CompareSing’s platform that links you up with some of Singapore’s best licensed money lenders.

Read on to find out what are the top ten characteristics of the best licensed money lenders, how to find the best money lenders near you, what to look out for when reading legal money lender reviews, and where you can easily find good legal money lenders near you.

Characteristics of the best licensed money lenders in Singapore

1. Provision of loan management advice

The best licensed money lenders want their customers to know exactly what getting a loan entails. They strive to offer helpful loan management advice, educate them on the need to be responsible for their loans, and go through all the nitty gritty details about loan terms, making sure borrowers are clear before they proceed with taking a loan.

2. Work out a repayment plan that suits you most

The best licensed money lenders in town go the extra mile to work out a repayment plan that suits you most, taking into consideration the interest your loan would incur over the tenure and your ability to serve the loan instalments punctually.

In general, the longer your loan repayment period, the more interest you’ll end up paying. The benefit to this is, of course, smaller, more manageable instalments.

3. Don’t provide false hope to lure you down

While all licensed money lenders want to help you tide over tough times by providing you with loans, the best money lenders will not provide you with one if you’re already over-leveraged and have too many liabilities. They don’t beat around the bush — if you’re not eligible for a loan then, you won’t get one. They won’t bog you down with ‘maybes’.

Insider scoop: Some lenders use lower interest rates, higher loan amounts, longer repayment tenure, or lower processing fees to lure borrowers. In the end, they find all sorts of excuses to only offer them the same terms.

4. Fair loan quotes and fees

Licensed money lenders have rules and regulations to follow when it comes to the interest rates and other fees they can charge:

  • A maximum interest rate of 4% per month
  • A maximum late interest rate of 4% per month for each month the loan is repaid late
  • A maximum processing fee of 10% of the loan principal
  • A maximum late repayment fee of $60 for each month the loan is repaid late

Be aware that the total charges imposed by a money lender on any loan—including interest, late interest, upfront administrative, and late fee—cannot exceed an amount equal to the loan principal. To illustrate, if X takes a loan of $20,000, then the interest, late interest, administrative fee, and monthly late fees cannot exceed $20,000

The best licensed money lenders in Singapore will not overcharge, or set unrealistic or unfair repayment terms (e.g., requiring borrowers to make repayments weekly when borrowers are more comfortable with making monthly repayments).

5. Variety of loans available

Different borrowers have different needs. The best licensed money lenders offer a good variety of loans to borrowers in need of loans, such as personal loans, debt consolidation loans, medical loans, education loans, foreigner loans, business loans, etc.

6. Quick loan processing and disbursement

The best money lenders understand borrowers’ need for urgent cash loans. That is precisely why they often strive to approve, process and disburse loans as quickly as they possibly can — sometimes under 30 minutes.

7. Professional service

The best licensed money lenders are professional — they are not rude to their customers or potential customers, do not engage in harassment or scare tactics, and do not discriminate against anyone regardless of their race, religion, and income. They also do due diligence before extending loans to borrowers.

8. Reliable

Reliable licensed money lenders are trusted by customers for good reason. That is also why reliable money lenders have a whole lot of good customer reviews to back them up.

9.Provide a grace period on repayment so you don’t have to pay late charges

While the same cannot be said for all money lenders, the most lenient licensed money lenders are more than happy to provide you with a grace period on repayment if you really are tight on cash. This nice gesture of theirs helps you avoid incurring late charges.

10. Give a discount for early full settlement

The best licensed money lenders in Singapore may even give you a discount for early full loan settlement, contrary to banks that always impose early repayment penalty fees.

Any good licensed money lender should encourage their borrower to pay down their debt as quickly as possible, don’t you agree?

How to find the best money lenders near me?

To find the best money lender or private money lender near you, follow these steps:

  1. Search ‘best licensed money lenders near me” on your internet browser
  2. Check the licensed money lender’s address
  3. Click on ‘Direction’ to view the licensed money lender’s business address on Google Maps
  4. Repeat the above steps to note down licensed money lenders near you
  5. Read licensed money lender reviews online


An example of how to search for ‘best licensed money lenders near me’, highlighting Goldstar Credit’s Hougang Branch

By clicking on ‘Directions’, I can view Goldstar Credit Hougang’s location on Google Maps.

By clicking on ‘Goldstar Credit Hougang’, the following will show up (refer to the screenshot below).

Click on ‘2,663 Google reviews’ to read reviews on Goldstar Credit Hougang

An example of how to look up Google reviews, zeroing in on Goldstar Credit’s Hougang Branch

What to look out for when reading legal money lender reviews on the internet?

Pay attention to the things or attributes that reviewers have frequently mentioned in their reviews, such as whether or not the licensed money lender:

  • Is helpful and understanding
  • Puts borrowers’ needs first
  • Offers repayment plans catered to borrowers’ needs
  • Offers fast approval for loans
  • Gives a clear explanation of the loan
  • Offers good, professional service
  • Is efficient and reliable
  • Is highly recommended by their customers

Also, look at the number of reviews the licensed money lender has garnered to date. Some money lenders have zero or barely any reviews while the top licensed money lenders and best licensed money lenders in Singapore have thousands of glowing reviews.

Where can I find the top licensed money lenders in Singapore?

It’s one thing to read legal money lender reviews when looking for legal money lenders near you.

Always verify a money lender’s legitimacy before engaging with them. Check if the money lender is inside the Registry of Moneylenders’ complete list of licensed money lenders. As it is, there have been more and more loan scams in Singapore; it pays to be extra vigilant to avoid becoming victims of illegal money lenders and scammers!

Below are some of the recommended licensed money lenders for your consideration. All of them are highly rated legal money lenders with solid reviews to back their professional services.

Licensed Money Lender (5-Star Google Review) Business Address Google Listing Page
Galaxy Credit & Investments 709, ANG MO KIO AVENUE 8, #01-2595,



#01-3661, SINGAPORE 760846

Soon Seng Credit 1, PARK ROAD, #1-21,



UK Credit 210, NEW UPPER CHANGI ROAD, #01-723,


96BM Credit 302, UBI AVENUE 1, #01-31,


Synergy Credit 447, CLEMENTI AVENUE 3, #01-201,


Cash Direct 2, VENTURE DRIVE, #01-21,



GoldStar Credit 1187, UPPER SERANGOON ROAD, #01-21,



190, LORONG 6 TOA PAYOH, #01-576,




CompareSing can help you find good private money lenders

‘Where can I find the best private money lenders in Singapore?’ will never be a question you need to think hard about with CompareSing. CompareSing helps connect you with top licensed money lenders in Singapore, all at no extra cost.

Fill up a simple online form on our website, and multiple licensed money lenders will reach out to you in no time with loan quotes. Many of them strive to respond to loan enquiries within 30 minutes.


We assume no responsibility or liability for any errors or omissions in the content on this website. The information contained on this website is provided with no guarantees of completeness, accuracy, usefulness, timeliness, or any warranties of any kind whatsoever. The content on this website is for informational purposes only and should not be construed as professional advice.

Read next