Fast Personal Loans Made Easy: Discover Singapore’s Best Licensed Money Lenders
When you need cash fast, finding a trustworthy, reputable, and fair moneylender in Singapore is difficult with 156 registered moneylenders all claiming to be the best. However, our research team done a comprehensive research on your behalf to match you with the best moneylenders.
We help you choose the right moneylender so you can make educated choices and get the money you need. We carefully evaluate and analyse moneylenders to find ones who follow the law and give fair conditions. Our research team can help you get the financing you need without dealing with unlicensed lenders or loan sharks.
A Quick Note:
It’s important to remember that not all money lenders are the best one. There are a few requirements:
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Top 10 Featured Licensed Money Lenders in Singapore
It’s crucial to engage with trustworthy, respectable licensed money lenders that follow standards and give transparent services while seeking financial aid.
We choose the best licensed money lenders based on reputation, client reviews, loan alternatives, interest rates, and customer experience. These lenders provide trustworthy personal, commercial, and other loans.
You can trust our listed legal money lenders to perform ethical lending and provide excellent customer service. They will help you apply for a loan with openness, reasonable conditions, and repayment choices.
Confidently choose and get financial aid. Explore our top 10 licensed money lenders in Singapore to discover the right partner for your financial needs.
Crawfort Finance
Google Review Rating: 4.8 (1.7k reviews)
Singapore’s Fastest-Growing Micro Financing Company
Crawfort Finance, Singapore’s fastest-growing microfinance enterprise, has revolutionised lending with its speed and efficiency. Crawfort Finance’s algorithm can approve personal loans in 8 minutes, a Singapore record.
It is one of the country most reputable money lenders, under the Registry of Moneylenders – Ministry of Law, assuring compliance with all laws and regulations. They follow ethical lending practises. This reliable lender provides reasonable moneylending to Singaporeans and permanent residents.
Crawfort Finance offers competitive rates and a variety of credit packages. Their products are customised to debtors’ financial requirements. Crawfort Finance’s 4.8 out of 5 rating from over 1.7K client reviews reflects their excellent customer service. The good rating shows their dedication to meeting customer demands and providing a great borrowing experience.
This licensed moneylender boasts an 8-minute online personal loan application. They have streamlined the lending procedure by digitising it. Borrowers may get their application status within an hour whether they apply online or in person. Borrowers get their monies quickly because of the simple method.
Crawfort Finance, Singapore’s fastest-growing microfinance firm, offers an unrivalled borrowing experience. Fast-loan seekers trust them because of their quickness, compliance, affordability, customer service, and efficiency.
Its popularity in Singapore is due to user ease. Crawfort has a well-trained staff. Professional and courteous personnel. Each process will be explained. Thus, this company’s personal loan application is a click away! Because of this, its customers come from all walks of life. Crawfort offers rapid cash without tight restrictions and limits to anyone with poor credit or who need money immediately.
Crawfort aspires to be a trusted brand in Singapore known for viable financial solutions for individuals faced with limited credit access. In 2019, they have earned a spot on the list of Singapore Prestige Brand Awards 2019. At Crawfort, it offers the most comprehensive types of personal loans in Singapore.
Loan Offers by Crawfort
- Easy Personal Loan
- Low Incomer Loan
- Fast Cash Advance
- Fast Payday Loan
- Bad Credit Loan
- Monthly Installment Loans
- Short Terms Weekly Loan
- Debt Consolidation Loan
- Bridging Loan
- Wedding Loan
- Renovation Loan
- SME Business Loan
Crawfort (Singapore) Contact Details
- Business Name: Crawfort Pte. Ltd.
- Moneylender License Number : 86/2022
- Address : 1, North Bridge Road, #01-35, High Street Centre, Singapore 179094
- Telephone : 67778080
- Website : https://www.crawfort.com/sg
Monetium Credit
Google Review Rating: 4.8 (281 reviews)
Monetium Credit, one of Singapore’s top ten licensed money lenders, is trusted and customer-focused. Monetium Credit is noted for its flexibility, openness, swiftness, and efficiency.
It has 4.8-star rating from 281 customer reviews in Google Business Profile. Monetium Credit’s many satisfied customers earned this great rating. It shows their dedication to client service and financial demands. It has eight service counters for convenience. This reduces wait times and ensures consumers get financial help quickly. Digital technology is used to speed procedures and improve customer experience.
It strives to make consumers feel at home. Clients may relax and enjoy free food and beverages in their lounge. Monetium Credit’s focus on client comfort reinforces its dedication to personalised service.
Lending Bee
Google Review Rating: 4.9 (881 reviews)
Lending Bee, a subsidiary of Credit 21 Pte Ltd., is a leading licenced moneylender in Singapore. Lending Bee is known for its reliability and customer service.
Lending Bee has 481 reviews and a 4.9 rating found in Google Reviews. It has locations in Far East Plaza (Orchard), Toa Payoh, Bedok North, and Jurong East to serve borrowers around the city. This wide presence helps borrowers to easily get financial aid regardless of location. It has several lending choices for borrowers. They provide $100,000 unsecured loans and up to $2 million secured loans. Unsecured loans have a 36-month payback term, giving borrowers additional flexibility.
It prioritises loan application ease as a customer-centric lender. Borrowers may apply online from home or on the move using their simple loan application forms.
Credit Excel Capital
Google Review Rating: 5.0 (1 reviews)
Credit Excel Capital helps borrowers satisfy their financial commitments and support daily business activities. It is a trustworthy moneylender with over a decade in lending industry. Their speedy loan approval ensures applicants get the finances they need quickly. Their low-interest monthly instalment loans are affordable for consumers seeking reasonable repayment solutions.
It provides financial services to everybody, from Singaporeans to foreigners, through difficult times. Their simple, rapid, and efficient methods make borrowing easy.
Moreover, Credit Excel Capital’s courteous and knowledgeable personnel are always ready to help with financial needs.
Credit Hub Capital
Google Review Rating: 4.7 (151 reviews)
Credit Hub Capital is one of Singapore’s top money lenders, with a 4.7-star rating from 151 customers. Borrowers seeking financial aid appreciate this top-rated firm because of its many features.
Credit Hub Capital wants to simplify the Singapore loan procedure. It offers fantastic tools that make borrowing easier.
Credit Hub Capital offers fast cash in less than an hour, a major benefit. This fast turnaround time helps borrowers with urgent financial circumstances get the funding they need.
Moreover, it recognises the necessity of protecting customers’ personal and financial information. Borrowers may be certain that their privacy is protected by Credit Hub Capital.
118 Credit (Formerly QV Credit)
Google Review Rating: 4.8 (114 reviews)
118 Credit is one of the best money lenders in SIngapore with 114 reviews and a 4.8 rating. This great rating indicates 118 Credit’s strong customer satisfaction and good borrower experiences.
Moreover, it simplifies loan terms. They give simple language so borrowers comprehend their loan arrangements. This simplifies the financing procedure and boosts confidence.
It provides several loan choices to meet various financial demands in addition to their transparency. 118 Credit tailors personal, commercial, and other loans to individual needs. This flexibility allows borrowers to get finances in the best way. Also, they immediately respond to client queries and give loan procedure information. Their great reputation and high customer ratings come from this customer-centric strategy.
Bugis Credit
Google Review Rating: 4.9 (345 reviews)
Based on 345 Google Reviews, Bugis Credit is Singapore’s most well-rated moneylender. Bugis Credit’s excellent customer service earned this high rating.
Bugis Credit aspires to give the greatest loan experience as a trustworthy moneylender. Its openness is notable. Fair and transparent loan conditions ensure that borrowers understand their loan expenses and payback responsibilities. Transparency fosters trust and lets borrowers make educated financial choices.
Bugis Credit also offers a smooth loan application procedure. Borrowers may get the finances they need quickly thanks to their efficient processes and pleasant employees. The lender prioritises consumer convenience and fast loan approvals and payouts.
Credit Culture
Google Review Rating: 4.6 (68 reviews)
Credit Culture Pte Ltd, a subsidiary of Dey Pte Ltd, offers trustworthy personal loans at low interest rates. A 4% monthly interest rate keeps borrowing affordable and predictable. Credit Culture’s transparent loans have no hidden fees.
It offers loans up to $50,000. The firm creates real-time, customised interest rates using digital technologies. Loan selections may be made with precise and current information. Moreover, it offers real-time monthly loan instalment estimations. This helps borrowers budget and meet their payback commitments. The company’s transparent repayment plans provide borrowers piece of mind.
Also, it provides personal loans for weddings, renovations, debt consolidation, and medical costs. Credit Culture is a flexible option for personal loans because of its ability to meet a variety of demands.
Credit Culture’s lending services have earned a 4.6-star rating from 68 online reviews. This grade shows that borrowers trust Credit Culture to provide dependable and transparent credit options.
Accredit
Google Review Rating: 5.0 (724 reviews)
Accredit, a top moneylender, has a 5.0 Google Review rating based on 724 reviews. Borrowers’ pleasant experiences and great satisfaction with Accredit’s services earned this excellent rating.
It is a dependable and customer-focused moneylender. Borrowers may trust Accredit’s trustworthiness and expertise with many excellent ratings.
Customer service is one of Accredit’s strengths. Accredit’s personalised and attentive help throughout the loan procedure has pleased many borrowers, resulting in the good rating.
Accredit has fair lending conditions. Clear disclosures of loan charges, fees, and payback responsibilities are expected. Transparency helps borrowers understand their financial obligations and make educated choices.
Accredit also provides several loan packages to meet varied financial demands. Accredit offers flexible personal, corporate, and debt consolidation loans. This adaptability enables borrowers to easily access cash for many uses.
Credit21
Google Review Rating: 4.8 (641 reviews)
Credit21 is a reliable moneylender with a 4.8-star Google Review rating based on 641 reviews. Borrowers’ ongoing satisfaction with Credit21’s services earned this excellent rating. Moreover, it is known for its dependability and client service as a moneylender. Credit21’s many favourable evaluations demonstrate borrowers’ faith in its financial solutions.
Numerous borrowers praised the attentive and personalised support throughout the loan application and approval procedure, resulting in the favourable rating. Credit21’s devoted staff meets borrowers’ demands, making borrowing a joyful experience. Credit21 also lends fairly and transparently. Loan conditions, fees, and repayment requirements should be explained clearly. Transparency helps borrowers understand their financial obligations and make educated choices.
Also, it provides loans for various financial purposes. Credit21 offers flexible personal, corporate, and debt consolidation loans. This flexibility lets borrowers easily get the financing they need.
Things To Consider Before Choosing A Money Lender in Singapore
Singapore’s money lenders are prone to deception. Singapore’s Ministry of Law has set standards for moneylenders to follow to govern this behaviour. These rules are also made public so that everyone may be informed of money-lending activities to avoid fraud.
Guidelines on Moneylending
- A licensed moneylenders may charge a maximum of 4% interest per month regardless of your annual income.
- License money lenders must base interest on balance reduction. They should levy 4% monthly interest on the payments.
- Moneylenders may only charge a 10% administrative fee, payable immediately.
- Late payments cost only $60 per month of late repayments.
- Only unpaid late payments accrue interest.
- Borrowing costs should not exceed the principal loan.
How to protect yourself from personal loan scams against illegal lenders?
You must verify a money lender’s licence to avoid loan scams. You may check it over the list of licensed lenders provided by Registry of Moneylenders (Ministry of Law).
A legal money lender will always let you read the terms and conditions before signing a contract. Before proceeding, read and comprehend with the term and conditions.
Thirdly, licensed money lenders charge 10% of the principle. Moreover, before picking a moneylender, read reviews.
Signs that you a dealing with illegal money lender or loan shark:
- Requesting a loan processing admin charge upfront to transfer them.
- Requesting your SingPass ID or password (Never reveal your information)
- Providing a blank contract to sign
- Letting you sign your contract without understanding the terms and conditions.
- Advertising the company and services through SMS.
- Instantly approving your loan application through phone or SMS
You’re in the wrong hands if you run across any of the aforementioned situations!
Moneylenders exclusively advertise on:
- Its website
- Consumer directories or business directories
- Advertisements outside the physical office
Emails, flyers, and SMS advertisements indicate a fake moneylender.
So, before going to a licensed moneylender for a personal loan, you must:
- Compile all the documents you’ll need to submit the application.
- Your landlord’s letter containing your name and address as proof of residence.
- Proof of identity for verification
- Your office appointment letter
- Recent payslip (must not be 3-months old)
If you are a foreigner, you must show the following:
- Employment pass or work permit
- Passport
- Employment documentation, such as a company or staff pass, an appointment letter, and a pay slip
- Proof of your residency
- A bank account statement (in your salary bank)
Remember that a respectable and reputable moneylender will never want your password.
Therefore, you should only turn to licensed moneylenders if you wish to make money for your company or need money. We have gathered all of this information for you so that you won’t have to deal with the trouble of looking for a great moneylender outside of your home.
How Much Can Singaporeans, PRs & Foreigners Borrow from Licensed Moneylenders?
Licensed moneylenders make collateral-free personal loans. Borrowers don’t need collateral to get money.
The table below shows Singapore’s licensed moneylenders’ maximum loan quantum for unsecured personal loans:
| Borrower’s annual income | Singapore Citizens and Permanent Residents | Foreigners residing in Singapore |
|---|---|---|
| not more than $10,000 | $3,000 | $500 |
| less than $20,000 and at least $10,000 | $3,000 | $3,000 |
| a minimum of $20,000 and higher | six times the monthly salary | six times the monthly salary |
| Borrower’s annual income |
|---|
| not more than $10,000 |
| less than $20,000 and at least $10,000 |
| a minimum of $20,000 and higher |
| Singapore Citizens and Permanent Residents |
|---|
| $3,000 |
| $3,000 |
| six times the monthly salary |
| Foreigners residing in Singapore |
|---|
| $500 |
| $3,000 |
| six times the monthly salary |
Prior to granting a personal loan, a licensed moneylender has the following obligations:
A licensed moneylender must make you aware of all of the conditions and details of the loan, not just the principal amount. When talking with you about the following, they must be open and honest.
- Interest Rate
- All fees required
- Late Interest Charges
- Schedule of Repayment
- Cautionary statement to the borrower
An licensed moneylender will always follow the law. It will guarantee that you fully comprehend the data presented above.
Never will they keep anything from you. Furthermore, they individually communicated the cautionary statement to you. It lists the characteristics of an unreliable lender and cautions readers not to work with them. You are needed to sign this document as confirmation that you have read and understand it.
What to do after your personal loan approval?
Make sure the money lender provides the whole principal to avoid frauds. Also, they may only deduct 10% of your main loan amount.
After claiming the principle, you must follow the terms and conditions. Note the following while receiving and repaying:
- You must have a copy of loan agreement
- Keep a duplicate of every receipt you get after paying fees or making a repayment
- You must receive a copy of your statement of account at least once every January and July and make sure that the information is correct – your name, amount paid and the loan balance
- Keep the important documents -receipts and statement of accounts safely
Remember that a respectable and legitimate moneylender will never want your password. Never forget that they will help you throughout the process, even after your loan has been approved.
Therefore, you should only turn to licensed moneylenders if you need some additional finances for your company or for personal requirements. To spare you the trouble of looking for a great moneylender from the comfort of your home, we have gathered all this information for you.
FAQs about Singapore’s Licensed Moneylenders
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