Licensed MoneyLender Singapore

When borrowing from a licensed money lender in Singapore, you can look forward to low interest rates, fast approval times with less stringent requirements and no hidden fees.

This is because licensed moneylenders are private loan companies verified by Singapore’s Registry of Moneylenders and subject to strict regulations under the Moneylenders Act. You can be sure that all your interactions with a licensed moneylender will be entirely legal and transparent. 

Several factors can help you determine if you’re dealing with a legitimate moneylender. For instance, all licensed moneylenders in Singapore cannot charge interest rates higher than 4% on loans. They will never send you promotional material via email, SMS or social media. 

Also, face-to-face verification is required for all borrowers. This is the reason why licensed moneylenders will always have a physical office where we consult with all borrowers in person. 

If you encounter any lenders who claim to offer fully online loan approvals, be wary, as they are most likely unlicensed moneylenders or loan sharks.    

Start your loan application process with Quick Loan on our website, on WhatsApp or by visiting our office.

Licensed moneylenders are a great option if you need to apply for urgent cash loans. Aside from banks and financial institutions, licensed moneylenders are the only legal private entities allowed to provide personal loans in Singapore.

You can check the Registry of Moneylenders to ensure you’re dealing with a licensed moneylender. 

At Quick Loan, you can access personal loans through an online application, via WhatsApp or by visiting our office. We’ll invite you to an in-person consultation to assess your financial situation, check your documents and determine your loan eligibility. 

Moreover, our hassle-free loan process means that you can look forward to receiving your funds within just 30 minutes to cover time-sensitive financial needs.

Our licensed moneylender loan can offer you quick cash through our online application system. You can expect swift replies to your application, so you won’t be left waiting for a long time to access the funds you need.

At Quick Loan, we welcome Singaporeans, PRs and foreigners who meet our eligibility criteria to apply for a licensed moneylender loan. First, you must be at least 18 years of age and have a minimum monthly salary of SGD1,800. 

We’ll also need personal documents to assess your eligibility, including your NRIC or SingPass for Singaporean and PR borrowers. If you’re a foreign applicant, we require your S Pass, Employment Pass or valid work permit along with your passport, employment contract and staff card. All applicants must provide their proof of residency, payslips and bank tokens.

You may also consider taking out a personal loan with us as an alternative option for a fast cash loan.

Besides ensuring that you meet Quick Loan’s eligibility criteria, we advise you to consider a couple of essential factors before you decide on the right loan for your needs. 

First, consider your capacity to pay off the loan and interest. Borrow only what you need and can afford to repay. We recommend that you shop around for competitive interest rates that keep your repayments affordable. Licensed moneylenders cannot charge more than 4% monthly interest, so you’ll enjoy low effective interest rates when you take out a loan with us. 

Secondly, don’t rush to commit to a loan until you fully understand and are satisfied with the terms and conditions of your contract. Your chosen licensed moneylender must explain the loan terms to you in simple and accessible language and provide you with a copy of the contract for safekeeping.  

Depending on your needs, your dedicated loan officer at Quick Loan will work with you to determine a repayment schedule and interest rate that best accommodates your financial situation.

It’s vital to ensure that any moneylender you’re dealing with is licensed, so you don’t fall prey to scams by loan sharks or unlicensed lenders. 

All licensed moneylenders in Singapore are listed in the Registry of Moneylenders. We advise you to consult this list to verify that your selected moneylender is licensed. 

The Singaporean government regulates all licensed moneylenders with strict operational requirements. These guidelines will help you determine whether you’re dealing with a licensed moneylender. 

For example, a licensed moneylender is not allowed to solicit loans through text messages, phone calls or social media. We must also meet all applicants at our offices to verify their identity before approving any loans. Furthermore, licensed moneylenders have a strict 4% cap on monthly interest rates that can be charged.