Top 10 Licensed Moneylenders Review In Singapore


Getting a loan from a bank is not an easy task! The entire process from looking for a suitable loan product to applying for it and for your loan application to get approved to disbursement may take a while. What happens if you have an emergency and need urgent cash now and cannot afford to wait that long?

Lucky for you, you have another option! Licensed moneylenders are well known for providing instant loans with quick approvals all throughout Singapore. And since they are approved by the Ministry of Law, they can be trusted for your monetary needs.

Nevertheless, note that not all moneylenders act in the same way and that is why in this article we have reviews of some of the best moneylenders in Singapore so that you can decide for yourself from which moneylender to borrow money. It can also help you decide what kind of services suit your financial needs the best.

Here is the list of the top registered or licensed moneylenders in Singapore:

Credit 21

Licensed with the Ministry of Law, for personal loans, Credit 21 Pvt. Ltd. is considered one of the top legal and licensed moneylenders in Singapore. They are devoted to confirming their clients’ best interests, therefore guaranteeing their transactions are crystal clear to the borrowers.

Their loan packages are designed in a way to suit the needs of every client they encounter. One of their top priorities is satisfying their customers, with that, they have advanced every process involved to guarantee competence.

Thus, Credit 21 provides a high level of customer service. They offer flexible repayment options along with one of the lowest interest rates in Singapore to make loans more affordable for the general populace. Whether you need a large sum of money or require a small amount for emergencies, you can count on Credit 21 as your go-to lender. To make things easier they also have an online application portal.


Contact: 622-11-811

Lending Bee

Devoted to creating a difference in the ways of accessing a credit card, Lending Bee is a deep-rooted financial institution in Singapore. Lending Bee is an expert in debt consolidation plans and provides loans up to S$300K as unsecured personal loans with up to 36 months long loan tenure.

Lending Bee is currently considered one of the largest licensed money lenders in Singapore. Because of all the experience in the financial industry that the many years brought to the team of Lending Bee, they are armed with the best knowledge along with great skills to understand the needs and requirements of their customers and offer them the best-personalized loan packages.

To make the process of lending easier for their customers, they provide digitalized services so that all their clients can control their accounts through a mobile application to keep track of the status of their loans to avoid late repayment charges.


Contact:  6219-1611

GS Credit

With only positive reviews from many happy customers, GS Credit is one of the best licensed moneylenders in Singapore. They have a unique selling scheme where their experts help financially challenged customers in times of emergencies.

This thing can also be noticed in their loan packages which include low-interest personal loans, bridging loans, payday loans, and foreign loans. The paperwork for these financial products is quick, granting they provide sensible principal sums. But if you are in a need of a more extensive amount, you can check out their range of secured loans.

Low-interest rates and tenures are suitable for monthly installments so that they won’t shake your budget.


Contact: 6563-0321

Katong Credit

A company constructed on complete trust and integrity, with characteristics like these Katong Credit grew remarkably over the past few years.

Over the years, they have been successful in building a diverse group of clients which contributed to their company becoming one of the most highly recommended licensed moneylenders in Singapore. You can not have access to a loan with a poor credit score in Singapore, your application will be instantly rejected by the banks, or either you will be charged with high-interest rates. The cash loan in Katong Credit is intended to help you access quick cash easily in these cases.

You can find various moneylenders in Singapore but Katong Credit goes to special lengths to make sure that their clients enjoy their best services possible. Some of the advantages that come with their good services are custom loan products and quick loan processing to suit the needs of their customers. They also have one of the easiest eligibility criteria, if you moved to Singapore recently and are struggling with your finances, you should consider Katong Credit because they offer inexpensive foreign loans as per your need.


Contact: 6291-2210

Horison Credit

Considered Singapore’s one of the most reputable legally licensed moneylenders, Horison Credit offers personalized solutions to financing problems that ought to meet the needs of their clients. It is considered common to come across financial difficulties where you do not have any source(s) from which you can seek quick cash, in situations like these Horison Credit offers quick and convenient solutions for your cash problems.

You can rest easy with Horison Credit when it comes to borrowing money from them as they follow all the rules and regulations set by the Ministry of Law, especially when it comes to repayments and interest rates.

They are your best option if you are in the dire need of quick cash because of the fast processing and simple eligibility requirements. They also provide debt consolidation.


Contact: 6844-2902

1AP Capital

1AP Capital in the issuing and approval of personal, business, and educational loans along with renovations packages.

The company is made up of a group of professionals who offer loan products that are modified according to the needs and requirements of the customers. They have established loan packages that are suitable for foreigners, residents, and businesses. They have a team with years of combined experience which makes them one of the key licensed moneylenders in Singapore.

With customer satisfaction as their utmost priority and their faith in service excellence, they will assist you properly in situations of emergencies where fast and reliable access is required to a loan.


Contact: 6533-5335

U Credit

You can find the most affordable interest rates in Singapore at U Credit; it is also something they are proud of and they can also be considered the most trusted licensed moneylenders when it comes to unique loan requests.

You can rely on their loan officers to take you through the loan schedule to make sure you pick the finest rates that are based on your financial conditions. They always put the needs of their customers ahead when discussing the loan plans best suited for you based on your income and also offer you to go ahead and compare their rates with all the other available moneylenders before you make any of your decisions.

U Credit has low interest rates, custom-made repayment methods, the best customer services, and a fast loan application.


Contact: 6337-1768

Credit Thirty3

Credit Thirty3 offers fast cash personal loans meant to fit any requirement, need, or budget. They are also legal moneylenders, listed in the Registry of Moneylenders, and also registered with the Ministry of Law. They attempt to give their clients the best interest rates for the loan with rates as low as 1%.

They are known to keep the information of their clients safe and secure which is also something they take pride in, they achieve this by following the best security measures with every client so that they can keep their identities private and safe.


Contact: 6292-2931

BST Credit

The name BST stands for Begin with Service & Trust. They are a licensed moneylender in Singapore known for offering easy and fast access to loans to citizens, permanent residents of Singapore, and also foreigners working in Singapore.

With the understanding that most people are facing financial problems and are in the need of access to funds quickly to solve their immediate issues, they consider it their mission to offer help to people from all walks of life.

You can apply for a loan with them without hesitation. They have affiliated their actions with the necessities of the Moneylenders Act and Rules.


Contact: 6299-1782


Considered Singapore’s one of the most respected licensed moneylenders, CreditMaster is a licensed money lending company recognized by the Ministry of Law. CreditMaster succeeded to distinguish itself when it comes to customer satisfaction and advanced financial products.

CreditMaster has helped thousands of household owners access quick and reasonable loans without having to go through the defeats of traditional banks.


Contact: 6748-1338

Choosing a moneylender in Singapore

It can be quite difficult and complicated to find a reliable moneylender with more than 150 licensed moneylenders in Singapore operating today and a significantly larger number of loan sharks imitating as legal moneylenders when you are in desperate need of cash.

That is why we carefully selected the moneylenders mentioned above in the list of top 10 moneylenders. But you should always keep certain things in the back of your mind while looking to borrow cash from a moneylender for your safety. Here are some of the qualities to look out for in a licensed moneylender:

  • Look for the number of positive reviews across major reviewing sites.
  • Relatively low reviews found online (forums, directories, Google reviews, licensed moneylenders review sites).
  • Registry of moneylenders and if their license is revoked on Ministry of Law.
  • Operating for 8 or more than 8 years.

Guidelines for Licensed Moneylenders

The guidelines are there to protect you and your requirements, and any moneylender who does not or is not following these guidelines is not a legal lender and should be reported.

  • Maximum rates of Interest: Moneylenders can charge up to 4% of the interest rate per month. This criterion applies regardless of the borrower’s income or if the loan is secured or unsecured.
  • Loan Amount: You can obtain a loan of any amount for the secured loans. As for the unsecured loans, you can get the amount of 6 times your monthly income.
  • Late Repayment Fees: If for some reason the borrower fails to repay the loan on time, the maximum rate of late interest is up to 4% per month for each month the borrower fails to pay back on time.
  • Other Charges and Fees: For each month of late repayment a fee not exceeding S$60; a fee not exceeding 10% of the principal loan amount when a loan is granted, and legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

How to Differentiate Licensed Moneylenders from Illegal Moneylenders

For easy identification among legal moneylenders and loan sharks, you must know the rules and regulations that licensed moneylenders have to abide by.

  • Licensed moneylenders only advertise through directories, own websites, and within or on the business premises.
  • They can let you borrow up to 6 times your monthly income for unsecured loans if you are earning at least S$20,000.
  • They can impose an administrative fee of not more than 10% of the loan amount when they grant you the loan.
  • They charge a 4% of interest rate per month regardless of your loan amount and income.
  • They thoroughly specify the terms and conditions of the loan and will give you a clear contract of the loan.

Legal moneylenders cannot:

  • Ask for your SingPass user ID and password.
  • Ask you to sign a Note of Contract for a loan that is blank.
  • Give you a contract without specifying the terms to you, or not handing you the Note of Contract copy.
  • Advertise their services via calling or SMS.
  • Automatically approve you for a loan over call or SMS before properly receiving or properly going over your loan application.

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