The Best Licensed Money Lender in Singapore Review 2021

Find the Best Licensed Money Lender in Singapore 2021

Get FREE loan quotes now from the top, 5-star rated licensed money lender in Singapore. Let our loan-matching system find the most suitable package for you in just a few clicks!

Loan Amount
$500 $50000
Loan Duration
1 Month
1 Month 6 Months
1st Payment
2nd Payment
3rd Payment
4th Payment
5th Payment
6th Payment
Total Payment

Find Your Perfect Loan in Three Easy Steps

Fill in the form and receive free loan quotes within 30 minutes or less!

Step1: Fill up form

1. Fill in our quick and easy form

Step 2: Receive free loan quotes

2. Receive 3 tailored loan quotes absolutely free

Step 3: Select the best banks

3. Compare, contrast, and choose your perfect match.

Customer Reviews

Still unsure about Instant Loan? Check out what our top customers have to say about our quick and easy loan matchmaking service below:


based on 3600 reviews

“Instant Loan’s comparison service was super-fast and incredibly easy to use. Just minutes after entering my details, how much money I needed and what tenor I wanted, they sent me three quotes all from top Singaporean banks. I picked a deal from Instant Loan and couldn’t be happier!”

- Liam Chan

“This is such an amazing website. Simply fill in a form, get your quotes and select the best loan for you. I spent ages looking for a good loan before this, but Instant Loan found exactly what I needed immediately. I just wish I found out about them sooner…”

- Irene Ong

“What a great service! I highly recommend Instant Loan. Their site is easy to use, offers a great way of comparing loans between different providers and takes all the hassle out of trying to find the right loan.”

-  David Goh


Finding the Best Loan Has Never Been Easier with Instant Loan!

 Take advantage of Instant Loan’s loan comparison algorithm!

Request, compare, and choose the best loan package for you in just a few minutes!

Popular Loan Package We Compare For You

What makes moneylenders’ loan packages attractive is their quick disbursal of the loan, easy, and hassle-free loan application process, absolutely easy & instant! 

Here are some popular offerings to choose from:

Personal Loan

Among the most sought-after loan that can be used for any personal purposes.

Payday Loan

Payday Loan

Best for emergencies when you need to make ends meet.

Why Compare Loans Through Us

In search of the best cash loan? We compare loan packages and sift through the best results according to your needs such as emergency cash, paying off medical bills, to resolve your financial difficulties.

We do the research, so you don’t have to!

Instant Loan is an unbiased finance directory offering up to 3 free loan quotes from the best money lender Singapore. We have proceeded with 100,000 loan applications. We can match you with the most suitable licensed moneylender and send you customized loan instalments quotes in just a few minutes!

What will you get :


Up to 3 free loan quotes from the top licensed lenders


Receive a customized loan according to your needs


Fast approval of eligible applicants within 30 minutes


Quick disbursal of the loan and zero loan approval fee

How We Select the Best Licensed Money Lenders

We’ve come up with several criteria to ensure that the premier licensed money lender Singapore has the following qualities.

We also believe that moneylenders should follow a strict set of values to provide exemplary service to you, the client. A trustworthy moneylender should have the following qualities:

  • Integrity

    A moneylender must be with honesty and integrity, without compromise of the truth. They must strive to provide a service that is without fraudulence and abuse.

  • Responsibility

    Moneylenders must recognize the importance of their work and how it can influence their clientele and staff’s lives; as such should always function with a recognition of their accountability.

  • Excellence

    Moneylenders must always strive to provide world-class service and maintaining an efficient approach to the solutions they provide.

Remember, if you need to get a personal loan or quick cash loan, get it from a licensed moneylender. It is also important to note that not all moneylenders have the same terms and conditions. Not all of them may have terms, so it is wise to check out several legal moneylenders to know their loan application, interest rates, and repayment period terms before selecting one to get your quick cash loans from.

All You Need To Know About Licensed Moneylenders in Singapore

What is a Licensed Moneylender? 

Licensed moneylenders are moneylending institutions that are bound by the Ministry of Law’s strict rules and regulations to govern the money lending industry.


How to Verify a Licensed Moneylender?

To save you the trouble of deciding whether a particular moneylender fits within the aforementioned law, the Ministry of Law has compiled a list of licensed money lenders in Singapore, allowing you to verify licensed lenders easily.

The registry of moneylenders can be found here. All moneylenders you work with adhering to the following.

  • Maximum Interest Rates

    The maximum interest rates moneylenders can is only up to 4% interest monthly. Anything above this is abusive and illegal, even if it’s only a 4.2% increase. Furthermore, any of interest payment that surprises you with additional hidden charges is subject to conduct review by the Ministry of Law in Singapore.

  • No Compound Interest Rates

    Any lender that uses compound interest on loans will undergo a performance review, translating into license termination if investigators find negative charges involved. They can only use reducing balance interest, which brings them only to a 4% ceiling interest rate once again.

  • Loan Application Fee Not Exceed 10% of the Principal Loan Amount

    Any loan processing or application fees must never exceed up to 10% of the total loan. Furthermore, moneylenders should never charge or hide additional fees from customers. Any borrower who encounters this scenario has a valid complaint to lead the suspect moneylender into a review and possible suspension or expulsion.

  • Can Only Charge Up To $60 Late Payment Fees 

    The late charges that a moneylender can impose on lenders are anything less than a $60 late fee per month and 4% late interest per month. Any amount that goes beyond is poor conduct.

  • Total Cost of Borrowings Should Be Way Below Loan Principal 

    The total charges imposed by a moneylender on any loan, including interest, late interest, upfront administrative, and late fee, must never go beyond the loan’s initial amount. Truthfully, if the lenders follow the rules we’ve mentioned above, they’ll always be within this threshold upon calculating the total penalties.

Things to Consider Before Borrowing

With numerous options in finding a moneylender, here’s a short guide to help you find the best ones. Furthermore, using this guide will help you avoid working with unscrupulous loan sharks too.

  • Accreditation

    A government-licensed moneylender Singapore is subject to and voluntarily follows the rules and regulations of the Ministry of Law. Furthermore, they’ve met the Ministry of Law’s stringent requirements if they appear in a licensed money lenders’ roster. The Registry of Moneylenders is open for any prospective borrower to visit, and each one in the list is a trustworthy and dependable moneylender.

  • Fair and Just Terms and Conditions

    A licensed lender Singapore offers you terms and conditions that suit your financial situation. Truthfully, these are the backbone of your contracts, making it essential you understand them before accepting the loan contract. However, you can trust that the Ministry of Law has and continues to regulate licensed moneylenders’ terms and conditions.

  • Respects All Fee and Penalty Charging Rules

    It’s fair for licensed money lender to charge a fee for personal loan services. Additionally, the Ministry of Law deems it fair to charge for late payment and other penalty fees. However, all lenders should respect the Ministry of Law’s guidelines and limitations we have listed above at all times.

  • Has a Good Reputation Among Previous Borrowers

    Even if moneylender follows all the rules and regulations of Singapore’s government, their attitude might be the last thing to put you off. Check any previous borrower experiences in most lender and financing comparison websites to learn more about it.

Looking for The Prefect Loan Today?

Fill in a loan application form with Instant Loan and receive 3 loan quotes within a matter of minutes.


Yes money lending is legal in Singapore provided that you loan from legal money lender that approved by Ministry of Law.

You can refer to the list of all registered licensed money lender here that approved by Ministry of Law.

Banks provide the biggest, virtually-limitless financial resources to any borrower. Alternatively, financial institutions offer average but ample financing, but only to members of their private fund. 

For licensed moneylenders, you can obtain a loan of any amount for secured loan. For unsecured loans , please refer to the table below for the total maximum amount that you may borrow: 

Borrower’s annual incomeSingapore Citizens and Permanent ResidentsForeigners residing in Singapore
Less than $10,000




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


At least $20,0006 times monthly income6 times monthly income

Before you provide a loan figure to your lender, they will assess your financial obligations and credit report. If monthly installments for your ideal loan amount reach beyond 40% of your income after deducting all your expenses, you may need to request for a lower amount of loan. Alternatively, you may also consider applying for a debt consolidation loan.

A debt consolidation loan will allow you to combine all your outstanding personal loans and repay in a long time to resolve any financial difficulties. By doing this, the borrower would now have one payment instead of making multiple payments that they owe others.

The Registry of Moneylenders is not in a position to assist you in negotiating with moneylenders or credit company with regard to loans, as this is a matter of private contract between the legal money lender and the borrower. You may wish to approach to various government agencies such as social service here which help consumers that encounter financial difficulties to recover from poor credit, various financial assistance schemes offered, credit counselling and where applicable, assistance in negotiating a debt repayment plan with creditors.

Visit comparison websites available in Singapore to learn more about the best offers from banks, financial institutions, and loan lenders. Make sure you prioritize one of the following to make the best decision virtually every time: loan tenure, reasonable interest rates, and the total amount you can loan.

Yes. If you’re recovering from a low credit history, a legal loan provider can help you get your scores back up with small financing. With a slow but sure method, you can improve your risk grades until you qualify for better and more productive financial commitments.

Some legal moneylenders allow you to pay off your debt early. This will accelerate the immediate closure of your loan account, and an interest rate discount might be given.

All licensed moneylender has gone through the examinations and certifications the Ministry of Law in Singapore imposes. The Ministry of Law keeps a record of all registered lenders in the Registry of Moneylenders, which you can visit here.

As we’ve listed above, a moneylender can charge you for penalties, such as late payments. Furthermore, they can only charge you a late fee for each month of late repayment, which does not balloon into compound interest.

All licensed moneylenders can only charge you with interests 4% and below. Anything similar to the items above is a violation, according to the Ministry of Laws guidelines.

When you work with a moneylender, your application will get approved in less than an hour if you are eligible and after submitting all requirements.

Licensed moneylenders always display their licenses to provide moneylending services on their website and office. You can find their names in the Registry of Moneylenders, and they will never ask you through telecommunications or online chats to use their services. They’ll only advertise through their websites and respective branches.

You should not solely rely on the content of an advertisement to take up a fast cash loans. You are advised to seek clarifications on specific terms of the loan contract before committing yourself to one of these licensed lenders.

The implications of money lenders’ advertising are so strict in Singapore that only 3 channels are allowed:

  1. Business or consumer directories (in print or online media)
  2. Own Website
  3. Advertisements placed within or on the exterior of their premises. 

Any other channel such as flyers, SMSes, emails etc, are prohibited.

If you see an unlawful advertisement for a moneylender, please do not hesitate to report it to the Registry as soon as possible at 1800-2255-529 or on the website so that they can take necessary action against this illegal activity and help protect you too!

You should: 

  • ensure you understand your responsibilities; 
  • receive copies of the contract when loan granted and understand its terms; 
  • not to share any personal password (Singpass account, Internet banking account, email account).
  • ensure that the lenders do not keep any personal ID documents 
  • Ensure that the principal amount delivered to you as agreed. 
  • Pay your loans on time to avoid late repayment fees
  • To review your receipts and statements of accounts (once every January and July), to ensure that the moneylender is handling all transactions correctly.
  • Keep all the statements of accounts and receipts of payments, as documentation and evidence of payments.