Moneylender Tips and Guides

Here we sharing about Singapore licensed moneylender tips and guides.

How can I get for a Loan from licensed moneylender?

  • You can apply for the loan from fill in the online application form then our manager will call you. Alternatively, we’d be happy to see walk into our partner office.

What do we do?

  • We are a team of members with high knowledge of moneylending to release the best and latest news about Singapore Legal Money Lender! Moreover, we have composed a list of best licensed moneylender around Singapore, to give you the best reference and advice.

What is the loan they are offering

  • The licensed moneylender in our list is offering a variety of secured and unsecured loans which include Personal Loan, Bridging Loan, Foreigner Loan, Debt Consolidation, Payday Loan, Business Loan, and Monthly Loan.

Which loan is right for me?

  • This will according to your purpose of applying for a loan and the amount you wish to borrow. Check up on Loans Services page for more information.

How much money can I borrow?

  • According to MinLaw latest update of the year 2019, you can borrow any amount with a secured loan.
  • For unsecured loans, Local Citizen or Singapore PRs:
  • – The borrower only can apply up to $3,000 in the event the annual income is less than $20,000;
    – You are allowed to apply up to 6 times your monthly salary if your annual income is $20,000 and above.
  • For a foreigner who holds a working permit in Singapore:
    • – The borrower agrees to borrow up to $1,500 in case your annual income is fewer than $10,000;
      – Up to $3,000, you can apply, if your annual income is less than $20,000;
      – In case, your annual income is $20,000 and above you can get up to 6 months of your income.
    • But, it is very important to take up a loan that is affordable to repay moreover do not apply too much.

    Can I early settlement for Personal Loan and is there any charges if I do?

    • On the personal loan program, you can settle full amount at any time. If you’d like to know more, call our consultant to give you the best advice. Alternatively, drop their office to get more data.

    Is it allowed to top-up my existing Personal Loan?

    • Yes, we’d be happy to discuss it with you. Visit our partner’s outlet and they will talk you through the process. As long as not exceeding MinLaw setting limit.

    Is it allowed I delay my payment?

    • Yes. We’d be happy to discuss this with you, if you have any obstacle to pay it on time, just drop by our partner outlet to discuss further.

    How do I make repayments?

    • You can make repayments of your loans via Internet Banking/ATM transfer or drop by at our partner office.

    What are the interest rates licensed moneylenders can charge?

    • The interest charge not more than 4 percent from month to month
    • Administration charge not exceeding 10 percent of the loan your applied
    • Late payment charge
    • Legal fee