Top 10 Licensed Moneylenders Review In Singapore

If you’re strapped for cash, you need a trustworthy financial partner that will help you quickly. However, many people are wary of reaching out to licensed moneylenders. For one, they believe borrowing money is shameful; also, with the slew of Ah Long stories in the media recently, some people are sceptical about moneylenders.

Here’s the thing:

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The best licensed moneylenders Singapore has to offer have stellar reputations. These agencies have been helping people of all income levels through awful tragedies and through happy times.

But first, you have to understand how to choose a reliable licensed moneylender. After reviewing those factors, we’ll discuss the top 10 licensed moneylenders in Singapore, and we’ll tell you how to steer clear from loan sharks.

Keep reading below!

Things To Consider Before Choosing Licensed Moneylenders Singapore

Here’s what to take into account before choosing a moneylender:

MinLaw License

It’s paramount that you work with a licensed moneylender and not a loan shark. Ah Long are extremely dangerous, so they resort to all sorts of tactics to squeeze more money from you.

By comparison, a licensed moneylender is compelled to respect laws that protect you from harm. One example is the 4%/ month interest rate cap or the lack of a pre-approval fee.

But here’s something else you have to think about:

Missing an instalment or difficulties repaying your loan. In this case, an Ah Long is likely to use force, blackmail or threats. Conversely, licensed moneylenders will go through a due diligence process that includes renegotiating your payment terms in the worst-case scenario.

So, double-check MinLaw’s list of licensed moneylenders to make sure your agency’s there.

Principal Amount, Interest Rate, And Tenure

People who apply for loans usually want to get a large amount, meagre interest and convenient tenure. In practice, the principal amount, interest rate and term are interdependent. These factors also correlate with your current financial position and credit history.

That’s the bad news.

You won’t get a massive amount with 0.001% interest and a convenient tenure in most cases. You’ll have to be prepared for some compromises – but ensure your loan officer balances these factors in the best way possible.

So make sure:

  • You can repay the monthly instalments comfortably, without horrible sacrifices.
  • You’re comfortable with the tenure; so, that repayment period isn’t unnecessarily long but also not too short of destabilising you.
  • You’re treated fairly and according to MinLaw’s rules.


Although licensed moneylenders have MinLaw’s accreditation, they don’t all use similar business models.

For instance, some licensed lenders have a higher risk appetite. Some cater to low-income people who need fast assistance, while others cater to high-income individuals who want long-term loans.

So it’s essential to pick a licensed moneylender that will fit your needs and profile. You need someone with a good reputation, but in the area that interests you specifically.

Here’s what you have to do:

  • Read customer reviews. Ask yourself whether your customer profile is similar to people who offer four or five-star reviews or to those who’ve given the agency low ratings.
  • Compare licensed moneylenders. Do they have experience in your field? What do they specialise in? Read their websites carefully to find the answers to these questions before committing.

Trustworthy Licensed Moneylenders Singapore

The best licensed moneylenders currently operating in Singapore are:

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1. Lending Bee: Long Tenures And High Loan Amounts

Lending Bee is one of the best moneylenders Singapore offers, thanks to its high loan amounts, long tenures, and versatile offers. Here’s what you can expect:

  • Unsecured personal loans up to $300,000
  • Terms up to 36 months
  • Lower loan criteria for which you can easily qualify

Besides, Lending Bee offers a multitude of financial plans and assistance, including:

  • Debt consolidation
  • Foreigner loans
  • Bad credit loans
  • Wedding loans
  • Business loans
  • Medical loans
  • And much more

As you can see from the options and benefits above, Lending Bee is a user-oriented agency. That’s why this company wants to expedite the entire borrowing process through:

  • Online application
  • Free cancellation
  • An intuitive loan app

2. Credit 21 Pte. Ltd.: Customised Emergency Loan Options

Credit 21 Pte. Ltd. is another trustworthy licensed moneylender in Singapore. This agency has a strong business culture that focuses on customers’ needs. Here’s how Credit 21 puts your problems first:

  • They’re transparent
  • Their loan options are very diverse and fully customised according to your financial situation
  • They’re very efficient
  • The interest rates offered with these packages are among the lowest in Singapore
  • The repayment options are very flexible

And, of course, like most of the best licensed moneylenders Singapore offers, Credit 21 has an intuitive online loan application. Just submit your loan request, and the agency will process it within eight hours.

3. GS Credit Pte. Ltd.: Best For Emergency Loans

GS Credit is another licensed moneylender that you can put your faith in. The proof is brought to you by a slew of 5-star reviews you can find on speciality forums.

There’s a catch:

GS Credit specialises in loan offers for emergencies and people with challenging financial histories. That’s why GS Credit includes:

  • Bridging loans
  • Foreigner loans
  • Low-interest loans
  • Payday loans

As you’ve probably figured out, you can only borrow smaller amounts through these sorts of loans. However, if you need quick cash with as little paperwork as possible, GS offers precisely that. The agency’s only eligibility requirements are your ID and proof of income.

Do you need a more considerable sum of money?

You can still count on GS. Just browse their array of secured loans with one of their loan officers. These agents are experts in personalising loans according to your needs.

4. Katong Credit Pte. Ltd.: Best Fast Cash Solutions For Bad Credit

Katong Credit is a well-known licensed moneylender in Singapore. Because its core values are trust and integrity, its incredible work ethic translates into numerous happy customers in Singapore.

You can get that from the slew of online recommendations.

Many people with low credit scores speak highly of Katong Credit. Instead of rejecting them or asking for exorbitant interest rates like some banks would, Katong Credit helped them with fast cash solutions.

These loans include:

  • Fast processing of your submission
  • Access to quick cash
  • Customised solutions
  • No-fuss eligibility criteria
  • Accessible foreigner loans, even if your situation isn’t amazing

5. Horison Credit Pte. Ltd.: Best For No-Fuss Eligibility

If you’re looking for a licensed moneylender with a long tradition of helping people, Singapore’s Horison Credit fits the bill perfectly. Horison Credit prides itself on customised loan solutions and always going the extra mile to help its customers.

Here’s how:

The application reviewing process is very humane. Unlike other agencies that automatise the entire thing, Horison Credit’s agents are always sensitive to people’s needs.

Of course, Horison Credit follows the rules established by MinLaw. But here, you can find some of the best options if you need quick funds because this company offers:

  • Quick application approval
  • No-fuss eligibility conditions
  • Debt consolidation if your previous loans are proving too much to handle

6. 1AP Capital Pte. Ltd.: Same-Day Cash

1AP features a slew of loan packages that cover 99.99% of people’s needs:

  • Business loans
  • Personal Loans
  • Education Loans
  • Renovation Loans

These loan solutions are customised depending on your status:

  • Citizen
  • Permanent resident
  • Foreigner
  • Business

Just like all of the best licensed moneylenders Singapore has to offer, 1AP Capital promises quick application processing and fast approval. But here’s their unique selling proposition:

With 1AP Capital, you can obtain the cash you need on the same day. So, don’t fall prey to a loan shark if you need an urgent 24-hour moneylender. Instead, consider 1AP Capital.

7. U Credit (Pte.) Ltd: Transparent With Competitors’ Rates

U-Credit boasts most of the same advantageous features we’ve seen with its competitors above. For example, their interest rates are very affordable. Also, U Credit has devised different loan packages that fit people of highly varied financial situations.

Here’s how that goes:

You decide on a specific loan – such as an unsecured personal loan – and apply for it. Your loan agent will work on a particular schedule of repayment and interest rate adapted to your financial situation.

But here’s U Credit’s unique proposition:

The agent offers a transparent comparison of their rates and their competitors’ rates. That way, U Credit lives up to the slogan “put your customers first.”

And yes, you can find reliable help with U Credit even if you’re a foreigner residing in Singapore and your financial situation is less than great.

8. CreditMaster Pte. Ltd.: Researched-Backed Loan Solutions

CreditMaster is an excellent choice because it has a long tradition in Singapore and almost 100% customer satisfaction. As a result, nearly all of their new clients get to CreditMaster through referrals.

Here’s the secret of this guaranteed customer satisfaction:

A team of financial experts that know what they’re doing – and that includes creating innovative financial products. In fact, CreditMaster puts all of its financial products through an intricate research and development process, so it only releases the loan options that pass these tests.

The result: you get sure-fire solutions that have proved their worth.

Here’s what you can find on CreditMaster’s array of services:

  • Small business loans
  • Unsecured personal loans
  • Foreigner loans
  • Payday loans

9. MPM Capital: Best For SMEs

MPM Capital targets SMEs in Singapore, offering them business loans up to $2,000,000 and 12% p.a. interest rates. MPM Capital promises that these flexible loan solutions you can get quickly will help you:

  • Seize more business opportunities
  • Increase your liquidity
  • Keep your business afloat
  • Increase your market share
  • Develop new products

MPM Capital boasts:

  • Lower and competitive fees
  • Diverse financing programmes
  • Larger loan approvals
  • More straightforward eligibility for businesses that have been operating for at least six months
  • Fast funding within 24 hours

10. Credit Thirty3 Pte. Ltd.: Versatile Loan Options

Credit 33 is another excellent choice of licensed moneylender in Singapore because:

  • They boast varied fast-cash loan solutions
  • Their interest rates can go as low as 1%/ month
  • The loan officers are diligent but also fast so that you can get on with your day after obtaining your loan
  • They feature high-standard security/ privacy software to protect your data

So, if you want to contact Credit 33, you can find them in Orchard and also just a minute’s walk from Toa Payoh’s MRT station.

Licensed Moneylenders Singapore Guidelines

Before choosing an agency to work with, it’s wise to read the guidelines that MinLaw established for licensed moneylenders in Singapore. That way, you can avoid loan sharks and understand if a licensed agent is trying to break the law.

Without further ado, here’s what licensed moneylenders in Singapore are allowed to do:

  • They should charge reducing balance interest rates. Your interest is always calculated from the remaining balance. Licensed moneylenders in Singapore can’t use the compound interest rate anymore.
  • The maximum interest rate is 4%/month. Your licensed lender can’t ask for higher interest under any pretext – not even granting you access to a more significant amount of money, a longer tenure, or your citizenship status.
  • Moneylenders can only impose a 10% admin fee from the principal loan amount after approving your loan. They can’t ask for other charges, such as pre-approval fees. If someone asks you for a sum of money to approve your loan or hasten the process, they’re either Ah Long or licensed but breaking the law.
  • The penalty for late payment is:
    • A maximum of $60 penalty
    • Maximum 4% interest rate calculated from the payment you’ve missed and not from the entire sum or the whole remaining balance
  • These charges should be less than or equal to your principal loan amount.

Warning: Loan sharks boast other tell-tale signs too, such as:

  • Direct advertising through e-mail, texts and social media
  • Not signing a contract or tricking you into signing blank documents
  • Meeting with you in informal, maybe even iffy places
  • Not checking your paperwork at their office – that sort of due diligence is mandatory according to MinLaw
  • Trying to withhold personal documents, passwords, or your assets as collateral
  • Using violence and verbal abuse
  • Trying to get you to abuse other people in exchange for their services

So if any licensed moneylender is breaking these rules, report them to the Registry of Moneylenders. If you’re dealing with a loan shark, contact the police too.