# Moneylenders in Singapore

Licensed moneylenders in Singapore can charge at most 4% interest a month, a $60 monthly late fee and a 10% admin fee. Total charges cannot exceed the loan principal. They must meet you in person at their approved office and cannot advertise by SMS, WhatsApp, calls or social media. Check every lender against the Ministry of Law's official list.

## Key facts
- Listings: 16
- Median years in business: 13

## Prices in Singapore
Legal caps on what a licensed moneylender may charge, in force since 1 October 2015. Caps do not apply to loans to businesses registered for at least two years.

| Service | Typical price | Notes |
|---|---|---|
| Interest | 0–4% per month (max) | On the reducing principal balance |
| Late interest | 0–4% per month (max) | Only on the overdue amount |
| Late fee | S$0–S$60 $ per month (max) |  |
| Administrative fee | 0–10% of principal (max) | Charged only when the loan is granted |
| Total charges cap | 0–100% of principal (max) | Interest, late interest and all fees combined |

## Licences
- **Moneylender's licence** (Registry of Moneylenders, Ministry of Law, required): Only lenders on the Registry's list may lend money as a business, and only from their approved business address. Lenders not on the list are unlicensed (loan sharks). Check: https://rom.mlaw.gov.sg/information-for-borrowers/list-of-licensed-moneylenders-in-singapore/

## How to choose
- Find the lender on the Registry of Moneylenders' list and check the address matches. Lenders may only operate from approved premises.
- Know your borrowing cap: for unsecured loans across all moneylenders combined, Singapore citizens and PRs earning under $20,000 a year can borrow up to $3,000. Those earning $20,000 or more can borrow up to six times monthly income.
- Read the Note of Contract, have it explained in a language you understand, and never sign a blank or incomplete one.
- Make sure the admin fee deducted upfront is no more than 10% of the principal, and get a receipt for every repayment.
- Compare with bank personal loans or credit-counselling options (Credit Counselling Singapore) before borrowing.

## Red flags
- Loan offers by SMS, WhatsApp, phone call or social media.
- A 'GST fee' or 'processing fee' requested before the loan is disbursed. That is a scam.
- Asking to keep your NRIC, passport, work pass, ATM card or SingPass details.
- Approving a loan by phone or text without seeing you in person.
- Interest quoted per week or a total cost above the principal.

## Listings (top 16)
- [VM Credit Pte Ltd](https://lookup.sg/biz/vm-credit-pte-ltd), Bugis · 261 Waterloo St, #01-31 Waterloo Centre · 1 min walk from Bencoolen MRT · registered 1981
- [Orange Credit](https://lookup.sg/biz/orange-credit), Geylang · 810 Geylang Rd, #01-91 City Plaza · 3 min walk from Cc9 MRT · registered 2010
- [Winz Credit](https://lookup.sg/biz/winz-credit), Chinatown · 101 Upper Cross St, #01-26B People's Park Centre · 1 min walk from Chinatown MRT · registered 2013
- [Swift Credit](https://lookup.sg/biz/swift-credit), Dhoby Ghaut · Peace Centre, Peace Centre/ Peace Mansion, 1 Sophia Rd · 4 min walk from Bencoolen MRT · registered 2017
- [SSBEC T&L Society Ltd](https://lookup.sg/biz/ssbec-t-and-l-society-ltd), Chinatown · 11 Cantonment Rd · 1 min walk from Outram Park MRT
- [Yong Khiong Credit Pte Ltd](https://lookup.sg/biz/yong-khiong-credit-pte-ltd), Kovan · 2 Kovan Rd · 2 min walk from Kovan MRT · registered 1992
- [Alles Autos Credit](https://lookup.sg/biz/alles-autos-credit), Chinatown · 133 New Bridge Rd, #01-34 · 1 min walk from Chinatown MRT · registered 2010
- [Advance Cash Credit](https://lookup.sg/biz/advance-cash-credit), Somerset · 304 Orchard Rd, #04-01A/02 Lucky Plaza · 2 min walk from Orchard MRT · registered 2010
- [SG Cash N Cars](https://lookup.sg/biz/sg-cash-n-cars), Upper Thomson · 11 Sin Ming Road Thomson V Two, #B3-09 Unit 1 · 3 min walk from Upper Thomson MRT · registered 2013
- [Cash Mart](https://lookup.sg/biz/cash-mart), Novena · 277 Balestier Rd · 12 min walk from Novena MRT · registered 2014
- [Speedo Capital Pte Ltd](https://lookup.sg/biz/speedo-capital-pte-ltd), Geylang · 33 Ubi Ave 3, #01-75 Vertex · 8 min walk from Ubi MRT · registered 2013
- [Golden Charter Pte Ltd](https://lookup.sg/biz/golden-charter-pte-ltd), Ang Mo Kio · 3 Ang Mo Kio Street 62, #02-17 Link @ AMK · 6 min walk from Yio Chu Kang MRT · registered 2015
- [Extol Global](https://lookup.sg/biz/extol-global), Jurong East · 22 Pandan Rd · registered 2015
- [A1 Credit](https://lookup.sg/biz/a1-credit), Chinatown · 2 Havelock Road, Havelock 2, #02-08 · 1 min walk from Clarke Quay MRT · registered 2018
- [TCC Credit Co-operative](https://lookup.sg/biz/tcc-credit-co-operative), Somerset · 95 Killiney Rd · 2 min walk from Somerset MRT
- [Loan Experts Pte Ltd (SG Mortgage Cat)](https://lookup.sg/biz/loan-experts-pte-ltd-sg-mortgage-cat), Lavender · 11 Hamilton Rd · 4 min walk from Bendemeer MRT

## By area
- Chinatown: 4
- Outram: 3
- Geylang: 2
- Rochor: 2
- Somerset: 2
- Ang Mo Kio: 1
- Bishan: 1
- Bugis: 1
- Dhoby Ghaut: 1
- Hougang: 1
- Jurong East: 1
- Kallang: 1
- Kovan: 1
- Lavender: 1
- Novena: 1

## FAQs
### How do I know if a moneylender is licensed in Singapore?
Check the Ministry of Law Registry of Moneylenders' official list of licensed moneylenders and confirm the business address. Licensed lenders must verify your identity in person at their approved premises, and fully online loans are not allowed. They may advertise only in business directories, on their own website and at their premises, never by SMS or social media.

### What is the maximum interest a licensed moneylender can charge?
The cap is 4% a month on the outstanding principal, regardless of your income or whether the loan is secured. Late interest is also capped at 4% a month on overdue amounts, late fees at $60 a month, and the admin fee at 10% of the principal. All charges combined cannot exceed the principal.

### How much can I borrow from a licensed moneylender?
For unsecured loans from all moneylenders combined: Singapore citizens and PRs earning under $20,000 a year can borrow up to $3,000. Foreigners earning under $10,000 a year can borrow up to $500. Anyone earning $20,000 or more can borrow up to six times their monthly income. Secured loans are not capped.

### How can I tell a loan shark from a licensed moneylender?
Warning signs include unsolicited SMS, WhatsApp or social media loan offers, upfront 'processing' or 'GST' fees before disbursement, requests for your SingPass or to keep your NRIC or ATM card, and loans approved without meeting you. Report suspected unlicensed lenders to the police, and breaches by licensed lenders to the Registry at 1800-2255-529.

## Sources
- Registry of Moneylenders – Guide to borrowing from licensed moneylenders: https://rom.mlaw.gov.sg/information-for-borrowers/guide-to-borrowing-from-licensed-moneylenders-english/
- Registry of Moneylenders – List of licensed moneylenders: https://rom.mlaw.gov.sg/information-for-borrowers/list-of-licensed-moneylenders-in-singapore/
- MinLaw – Controls on costs to offer borrowers more protection (2015): https://www.mlaw.gov.sg/news/press-releases/controls-on-costs-to-offer-borrowers-more-protection-now-in-forc/
- Registrar's Directions on advertising and marketing (1 Apr 2025): https://rom.mlaw.gov.sg/files/Registrar's%20Directions/Advertising_Marketing_Directions_dated_1_Apr_2025.pdf

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Source: Lookup (https://lookup.sg) · Data as of October 2026 · Listings compiled from Singapore government open data (data.gov.sg), OneMap and Overture Maps places. Free listings never show contact details; featured listings are labelled.