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Licensed moneylenders in Singapore are authorized to provide personal loans to those who are in need of some emergency fund. The borrowers can repay the personal loans from the licensed moneylenders in Singapore after a stipulated period. The legitimate, reliable moneylenders turn out immensely useful when the borrowers are in need of fund on short notice. Moreover, the licensed moneylenders in Singapore are also known to offer various kinds of loans including personal loans, business loans, payday loans, and so more.

When you are applying for a personal loan, it is always imperative for you to ensure that the moneylender is licensed and legal. The moneylender should also comply with the regulations of the Singapore Moneylenders Act. While searching for emergency funds from a personal loan in Singapore, it is quite common to come across unlicensed, fraudulent moneylenders out there. Therefore, it is essential to be cautious and apply for a personal loan only from the reliable moneylenders out there.

The Amount You Can Borrow

While borrowing money from the licensed moneylenders, the borrowers usually have two options for applying for loans in Singapore. Unsecured loans can be granted to the borrowers on the basis of the credit score or credit history –without the requirement of any collateral.

On the other hand, secured loans are usually granted to the borrowers after the presentation of some collateral to the moneylenders. This offers the assurance that the borrower would repay the loan along with the respective interest amount. When you opt for obtaining the secured loans from the licensed moneylenders, you might get the desired loan amount as and when needed.

Annual Income

Singapore Citizens and Singapore PR


Less than S$10,000



At least S$10,000 and less than S$20,000



At least S$20,000

6 times monthly income

6 times monthly income

What fees are charged?

The licensed moneylenders in Singapore are allowed to charge the respective fees for the type of loan they would provide to the borrowers. When the borrowers are opting for the personal loan from the licensed moneylenders in Singapore, they are usually charged an amount that exceeds not over 10 percent of the loan principle borrowed. For the monthly payment that gets defaulted, the borrowers will be charged an amount not exceeding S$60 for late fee and not more than 4% late interest per month.. When the entire claim of the moneylender is successful for the outstanding loan amount recovery, the borrowers are expected to pay the legal costs as ordered by the court.

The directory of the licensed moneylenders allows the borrowers to search for the most reliable, highly reviewed moneylender in Singapore, and hire personal loan services from them.