Top 12 Licensed Moneylenders in Singapore [2024]

Finding the best moneylender in Singapore might not be something you’ve thought about until you’ve found yourself in a tight financial spot. Let’s face it: banks can be unforgiving when it comes to credit issues. Maybe you’ve experienced it yourself, or you know someone who has. That sudden realization that traditional financial institutions are just not an option can be unsettling, to say the least. But it doesn’t have to be a dead-end.

A licensed moneylender in Singapore operates under strict regulations set by the Ministry of Law, adhering to legal requirements and ethical guidelines to ensure transparent and fair lending practices.

In Singapore, going to a licensed moneylender isn’t just a last resort; it’s a practical and often necessary solution. Whether it’s for personal loan, a small business venture, or even an unforeseen emergency, finding the right moneylender can make all the difference. And no, it’s not about settling for less. It’s about finding the financial partner who understands your situation and is willing to work with you.

1. Best Licensed Moneylender Pte Ltd

Topping the list of best licensed moneylenders is none other than Best Licensed Moneylender Pte Ltd itself. As evident from glowing Google reviews, clients hail it as the ultimate licensed moneylender.

Their streamlined SINGPASS application ensures rapid loan approval within 2 hours – no more hassles or paperwork!

Conveniently situated at 13 North Bridge Road in the central area, near Green Line and Yellow Line MRT station, with a car park within the same block, accessing their services is hassle-free.

To top it off, we recommend booking an appointment for personalized assistance and minimal waiting time. Best Licensed Moneylender Pte Ltd stands as a trustworthy and efficient financial partner for all.

Website	https://bestlicensedmoneylender.com.sg/
Highlights	Personal loan, Business loan, Wedding loan, Debt consolidation loan, Bridging loan
Address	13 North Bridge Rd, #01-3984 Singapore 190013
Email (For Enquiry)	[email protected]
Contact Number	+65 6224 2224
Operating Hours	Monday to Saturday: 11am to 7pm Closed on Sunday and Public Holidays
Online Reviews	“The whole thing was a pressure-free, hassle-free experience. The staff was professional all throughout giving me ample details on my contract, obligations and situation. They cater to your current financial situation so letting them know will definitely a plus. Hats off to Miss Starry, she was knowledgeable and engaged taking everything into consideration.” 387 Google reviews (Average rating: 5.0 / 5.0 stars)

2. 118 Credit

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 1 — Photograph from 118credit

Since 2010, 118 Credit started operation as a loan agency that provides an extensive range of money lending services for those in need of quick cash and relief, with tailored loan packages and no hidden fees.

As a moneylending company with a long history, they have abided by the ever-changing tight regulations imposed by MinLaw to provide good lending practises and to increase the privacy and protection of borrowers.

In 2021, 118 Credit became a licensed moneylender with Singpass Myinfo application services to improve the loan application process to provide a hassle-free experience.

Website	https://118credit.sg/
Highlights	– Licensed money lender with Singpass Myinfo application services – Provides personal loans to consumers with no hidden fees – Fully transparent with charges
Address	Burlington Square, 175A Bencoolen St, #11-08, Singapore 189650
Email (For Enquiry)	[email protected]
Contact Number	+65 6835 7666
Online Reviews	“Was heavy burdened with my debts incurred through online scam and super delighted to find caring support and understanding at 118Credit. They offered me quality service and assistance to clear my debts with loan repayment of less than a year. Am very grateful to 118Credit for relieving me of my burden. Thanks also to BC who attended to me. Highly recommend this com” 103 Google reviews (Average rating: 4.8 / 5.0 stars)

3. Crawford

Best Licensed Moneylender - Crawfort — Photography from Crawfort

Crawfort has been established for more than a decade, since 2011.

Every step of their process is tailored to boost convenience. They have digitalised everything from application to credit scoring to payment.

Just in 8 minutes from application, you will know if your loadn is approved or not.

They are also the first to implement the repayment of funds through SAM/AXS machines which makes repayment even simpler.

Website	https://crawfort.com/sg/
Highlights	– Apply With Myinfo so the application will be automatically populated with data – Receive application results via SMS in the next 8 minutes. – Head to the outlet for a face-to-face verification and collect your money.
Address	1 North Bridge Road #01-35 High Street Centre Singapore 179094
Email (For Enquiry)	[email protected]
Contact Number	+65 6777 8080
Operating Hours	Mon-Sat: 10:30AM – 7:30PM Sunday, Public Holidays: Closed
Online Reviews	“Hi, this is my 3rd time coming down. All the while the payment loan and explanation is great. Excellent service and thanks to Mr Leon. Thanks for the hospitality and explanation as well. Highly recommend” 1584 Google reviews (Average rating: 4.8 / 5.0 stars)

4. Cash Mart

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 2 — Photography from Cash Mart

Cash Mart is an award-winning private licensed moneylender in Singapore. For over 50 years, Cash Mart stays committed to building relationships with customers by providing the best lending experience they deserve.

Cash Mart is a fast growing online and mobile lending platform in Asia, consistently providing customer-centric service: quick, simple, convenient, and transparent.

As a reputable licensed moneylender, Cash Mart recognises that markets do fluctuate but values don’t. This is why they have stayed by their customers and colleagues side through their good and challenging times.

Website	https://cashmart.com.sg/
Highlights	– Just one valid ID – Get approval in just 5 minutes – Sign-up online by filling up loan inquiry form and get a call from the loan officer to schedule visit
Address	277 Balestier Road, Singapore 329726
Email (For Enquiry)	[email protected]
Contact Number	+65 6397 4111
Operating Hours	11:00 am – 8:00 pm Saturdays 11am – 6pm Closed on Sundays and Holidays.
Online Reviews	“I would recommend Cash Mart as they are transparent and trustworthy. Most importantly, loan an amount which you can afford to repay back. Cash Mart also have a ceiling loan amount according to your income thus clients are protected.” 45 Google reviews (Average rating: 3.3 / 5.0 stars)

5. Avis Credit (SG) Pte Ltd

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 3 — Photography from Avis Credit

Established in 2011, Avis Credit (SG) Pte Ltd is a licensed moneylender in Singapore that is well-known for being a reliable source of fast approval and flexible repayment moneylender. They offer their clients a wide range of loan packages, whether they are short-term or long-term at a competitive rate.

They offer personal, short-term and business loans that are provided to you based on your requirements and information that you have given them.

Website	https://avismoneylender.com.sg/
Highlights	– Fast approval – Flexible repayment – Competitive rate
Address	185 Toa Payoh Central #01-344 Singapore 310185
Contact Number	+65 6883 2017
Email	[email protected] [email protected]
Operating Hours	Monday-Friday: 11am – 730pm Saturday: 11am – 7pm Close on Sunday
Online Reviews	“1st time coming down to this place, excellent customer service provide by Moon, very patient in replying all my questions and the cash disbursement is quite fast too.” 1010 Google reviews (Average rating: 5.0 / 5.0 stars)

6. GS Credit

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 4 — Photography from GS Credit

As one of the most trusted licensed moneylenders in Singapore, GS Credit strives to maintain the highest standards of professionalism and transparency.

When applying for a personal loan at GS Credit, you can be assured of its fast processing and quick approval process.

All loans are processed within an hour.

Your personal loan will be instantly disbursed to you once it has been approved.

Website	https://www.gscredit.com.sg/
Highlights	– Quick approval – Fast processing – Immediate disbursement of loans once approved
Address	1 Gateway Dr, #06-08 Westgate, Tower 608531
Email (For Enquiry)	[email protected]
Contact Number	+65 6563 0321
Operating Hours	Mon to Fri: 11AM to 8PM Sat: 11AM to 4PM Closed on Sun and PH
Online Reviews	“OMG! They are so nice and professional. Entered the office, straight away greeted by the staffs. The staffs there are either pretty or handsome. I was served by a gal, she is very nice and the way she talks is so professional and polite. The environment of the office is so neat and tidy with nice ambient. Kudos to everyone of you. Keep it up.” 113 Google reviews (Average rating: 4.6 / 5.0 stars)

7. Accredit Moneylender

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 5 — Photography from Accredit

Founded in 2002, Accredit Moneylender is a subsidiary of Quick Credit Pte Ltd who are industry veterans providing transparent and quality services to their clients.

The licensed moneylender in Singapore works on a sustainable model that is focused on consumer protection. Your personal data is protected with industry standard HTTPS (TLS1.2) and passed penetration testing.

Accredit Moneylender provides loan service such as short term credit, debt consolidation, personal loan and business financing with fast and easy cash approval for loan applications made within the same day. There are no hidden costs incurred for any loan applications made. Fees payment are made upfront and transparent.

Website	https://www.accreditloan.com/
Highlights	– Works on a sustainable model that is focused on consumer protection (Client’s personal data protected with advanced technology) – Fast cash approval for loan applications made within the same day – No hidden costs
Online Reviews	“Really fast and very good service definitely recommended, staff are friendly. After comparing with another money lender this company is very comfy to liaise with! 100% recommended. Fuss free. Debbie was my consultant. Love her service and also her working mate . Serve with smiling face always. Keep up the good service” 431 Google reviews (Average rating: 5.0 / 5.0 stars) – Yishun branch

8. Fast Money

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 6

Next licensed moneylender on this list is Fast Money. Applying for a personal loan with Fast Money is quick and efficient using their online application form. No application fees are needed.

Fast Money offers its loans at some of the lowest interest rates in the region.

Their loans are open for application to Singaporeans, Permanent Residents and foreigners with valid passports.

Instead of simply making unreasonable demands like other personal loan providers, they will also make arrangements to provide you with a flexible repayment period to resolve your financial woes.

Website	https://fastmoney.com.sg/
Highlights	– No application fees – Open to all clients, regardless of nationality – Flexible repayment period
Address	Multiple location – Yishun and Tampines
Email (For Enquiry)	[email protected]
Contact Number	+65 6224 4746 +65 6224 4749
Operating Hours	Monday – Sunday 12 pm – 8 pm
Online Reviews	“Read the review and came, the service was top-notch and the staffs was very patient to answer all my queries. Very clear cut explanation on borrowing issue. Overall good …” 642 Google reviews (Average rating: 4.9 / 5.0 stars) – Yishun branch

9. Lending Bee

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 7

As a subsidiary of Credit 21 Pte Ltd, Lending Bee is a knowned licensed moneylender in Singapore.

Out of 156 licensed moneylenders in Singapore, Lending Bee was one of the six selected by the Ministry of Law to pilot alternate business models for moneylending.

As such, you can be assured that they are a reliable and licensed moneylender with huge capital backing. They are able to quickly provide you with a personal loan which suits your needs.

To make the application process more convenient, Lending Bee has created a mobile application for its customers. Their mobile application is available on both the App Store and Google Play.

Website	https://www.lendingbee.com.sg
Highlights	– Huge capital backing – Mobile application to facilitate loan application process
Contact Number	+65 62191611
Online Reviews	“This is my first time taking a personal loan, lending bee offer a lower interest % rate for low income which is very good and stress-free. Thank you kuang for explaining the loan detail in a very friendly manner. If in future I need loan again will definitely go back to them” 705 Google reviews (Average rating: 4.9 / 5.0 stars) – Orchard branch

10. GoldStar Credit

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 8 — Photography from GoldStar Credit

Goldstar Credit Pte Ltd is a licensed moneylender in Singapore that help their clients achieve the best possible outcomes with relevant financial solutions tailored to their financial needs.

They provide a wide range of loan services such as personal loan, business loan, payday loan, debt consolidation loan, medical loan and wedding loan. These loans are readily available on the spot and are affordable for their clients with low interest rates and monthly repayments.

Website	https://goldstarcredit.co/
Highlights	– Provide a wide range of loan services – Low interest rates and monthly repayments
Online Reviews	“Loan approved within 30mins. Customer service is very smooth and humorous. Able to make weekly payment. Hassle free. Will come back again if needed. Highly recommended” 2861 Google reviews (Average rating: 5.0 / 5.0 stars) – Hougang branch

11. Credit 21

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 9 — Photography from Credit 21

With 16 years of experience, Credit 21 is a credible and reliable player in the local money lending industry.

Credit 21 aims to provide convenient and hassle-free loans so that borrowers can receive timely financial aid. Borrowers can expect up to $100,00 in untenured loans at one of the lowest interest rates in the market.

As a testament to their credibility as a licensed moneylender, they were acknowledged by the Ministry of Law as one of the six firms piloting new business models for money lending.

Website	https://www.credit21.com.sg/
Highlights	– 3-minute loan application – Loan disbursement is done in 24h – 16 years in the private moneylender industry
Address	10 Anson Rd, #01-07 International Plaza Singapore 079903
Contact Number	+65 6221 1811
Operating Hours	Monday – Saturday: 11am – 8pm Sunday & Public Holiday: Closed
Online Reviews	“Fast and swift service provided by the team. Had a smooth transaction with the help of Shania who explained in details of my doubts. Thank you for the assistance and rendered service by your team.” 614 Google reviews (Average rating: 4.7 / 5.0 stars)

12. Galaxy Credit

12 Best Licensed Moneylender in Singapore for Personal Loan [[year]] 10 — Photography from Galaxy Credit

With a personal loan cap of S$150,000, Galaxy Credit Investment’s interests rates are as low as 3.9% per term. No processing fees or deposits are needed.

You can easily apply for a personal loan by submitting online through an online form at the comfort of your own home. Their representative will contact you within one working day.

Once your loan is approved with the loan agreement signed, the firm will disburse the money via cash, bank transfer or cheque on the spot.

Every case is special and they go the extra mile to provide a repayment cycle that fully suits your financial capabilities.

Website	https://galaxycredit.com.sg/
Highlights	– Loan cap of S$150,000 – No processing or deposit fees – Disbursement of cash on the spot
Address	709 Ang Mo Kio Avenue 8 #01-2595 Singapore 560709
Contact Number	+65 6250 8811
Operating Hours	Monday to Saturday: 11:00 am to 7:30 pm Closed on Sunday and Public Holiday
Online Reviews	“I am extremely pleased and blown away by this company and the service from Isaac. He is extremely professional and friendly too. Isaac assisted me and this was my first visit to Galaxy. He is considerate with my situation and have guided me through out the process. Thank you very much to Isaac and Galaxy Credit making this journey a smooth and pleasant one. This company is highly recommended, sincerely.” 3331 Google reviews (Average rating: 5.0 / 5.0 stars)

FAQS about Licensed Moneylender In Singapore

What are licensed moneylenders?

Licensed moneylenders in Singapore are legally registered and regulated by the Ministry of Law, specifically under the Moneylenders Act. They must adhere to strict guidelines and rules concerning interest rates, fees, repayment terms, and ethical lending practices.

The licensing process ensures that moneylenders operate with transparency and fairness, offering protection to borrowers from exploitative practices that may be found with unlicensed lenders. Licensed moneylenders are often sought after for personal loans, payday loans, business loans, and other financial products, especially by those who may have credit issues with traditional banks.

Because of the rigorous regulations and oversight, working with a licensed moneylender provides a level of assurance and trustworthiness. Borrowers can be confident that the terms and conditions of the loan are in accordance with Singaporean law, and they have legal recourse should any disputes arise.

How do I check if a lender is licensed in Singapore?

License Number: All licensed moneylenders in Singapore have a unique license number issued by the Ministry of Law. You should ask the lender for this number and verify it.
Visit the Ministry of Law’s Website: The Ministry of Law maintains an updated list of licensed moneylenders on its website. You can cross-reference the lender’s name or license number here to ensure that they are indeed registered.
Check the Physical License: A licensed moneylender should display their license in a conspicuous place within their business premises. This license will contain their license number, and you can request to see it during your visit.
Be Aware of Red Flags: Licensed moneylenders are required to adhere to specific practices, such as not sending unsolicited offers or advertisements via messaging or phone calls. If you encounter such practices, it could be a sign that the lender is not licensed.
Verify with Consumer or Financial Authorities: If in doubt, you can contact relevant authorities such as the Registry of Moneylenders or the Consumer Association of Singapore. They can provide assistance in verifying the legitimacy of a moneylender.

What happens if I don’t pay moneylender?

Late Fees and Increased Interest: Initially, if a payment is missed, the moneylender may apply late fees and additional interest as outlined in the loan agreement. This can quickly escalate the total amount you owe.
Legal Action: Licensed moneylenders may take legal action to recover the debt. This could involve hiring a debt collection agency or filing a lawsuit. Legal proceedings can lead to additional costs for the borrower.
Credit Score Impact: Non-payment of a loan may be reported to credit bureaus, leading to a negative impact on your credit score. A low credit score can affect your ability to secure loans, credit cards, or even certain jobs in the future.
Seizure of Assets: Depending on the terms of the loan and the legal proceedings, the court might order the seizure of your assets to repay the debt.
Harassment from Unlicensed Moneylenders: If the loan was taken from an unlicensed moneylender, the situation could become even more troubling. Unlicensed lenders may resort to harassment or even threats to coerce repayment.
Bankruptcy: In extreme cases, if the debt is substantial and you are unable to repay, you could face bankruptcy proceedings. Bankruptcy has long-term financial and legal implications and can severely affect your financial stability and reputation.
Potential for Negotiation: If you find yourself unable to make a payment, it’s advisable to communicate with the moneylender as soon as possible. Licensed moneylenders are regulated and may be willing to negotiate a revised repayment plan or offer temporary relief.

Is borrowing money from a moneylender legal?

Yes, borrowing money from a licensed moneylender in Singapore is entirely legal. Licensed moneylenders are regulated by the Ministry of Law under the Moneylenders Act, and they must adhere to specific guidelines and regulations regarding interest rates, fees, and ethical lending practices.

However, it’s crucial to ensure that the moneylender you are dealing with is licensed. Borrowing from an unlicensed moneylender could expose you to unlawful practices, harassment, and other risks. Unlicensed moneylending, often referred to as loan sharking, is illegal in Singapore, and both the lender and the borrower could face legal consequences.

To ensure that you are dealing with a licensed moneylender, you should verify their license number and check their status on the Ministry of Law’s official list of licensed moneylenders. Engaging with a licensed moneylender ensures that your financial transaction is legal, transparent, and conducted according to the regulations set by the Singaporean authorities.

12 Best Licensed Moneylender in Singapore for Personal Loan [2024]