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Licensed Money Lender Personal Loan Near Me

You often worry about where to get a loan for a financial emergency. Aside from that, you worry that you cannot get the best loan package for your unique and personal situation. Licensed money lenders are everywhere. You just need to have the proper platform that brings you to them.

Summary of Top Legal Money Lenders of 2024


110A Telok Ayer Street Singapore 068579


470 North Bridge Road
#02-12 Bugis Cube
Singapore 188735


17A Circular Road

Singapore 049373


14 Scotts Road
#03-63 Far East Plaza
Singapore 228213


470 North Bridge Road
#02-01A Bugis Cube
Singapore 188735


2 Havelock Road
#02-08 Havelock II
Singapore 059763

Steps to Apply

Money lenders in Singapore have different strategies in effectively conducting their business. They may even vary their application process for convenience sake. But most, if not all, of them follow three easy steps in securing your much-needed loans.

  1. You have to submit your application form. Head to the website of the licensed moneylender and there you will find the online form. Provide each detail that is asked from you to ease their determination of how much loans they can give you.
  2. Wait for your loan quotation. Aside from the values of the loans, the quotation gives you an idea on the interest rate and other terms and conditions that apply on the loan.
  3. When the loan facility approves your loan application, they can ask you or you can go to the business branch of your selected licensed money lender in Singapore when you are already amenable to the loan quotation provided to you.

Who Are We?

Finding the right loan provider can be a tedious job. There is always a risk of falling victims to unlicensed moneylenders who are experts of deceit. Luckily for you, Loan Advisor takes seriously its job of connecting you only to licensed moneylenders in Singapore. It recognizes that you need help in sorting out which among these licensed moneylenders has the loan offer that is best suitable for your needs.

Loan Advisor is primarily a loan comparison site. It has a vision of making every borrower capable of making informed financial choices particularly when it comes to loan. There are a lot of attractive personal and business loan offers in the market but only one or a few of these are really suitable for you.

With the help of Loan Advisor, you can get as many loan quotes as you can possibly have. You just need to submit your application form and Loan Advisor gives you quotes from as many licensed money lenders in Singapore as possible.

The job left to you is to see for yourself which of the quotes is the most advantageous for you in terms of the amount you can borrow, the interest rate and the repayment schedule.

You will be spared from asking each licensed moneylender in Singapore for a quote. You will also be assured that the quotes are from those with legal business operations.

Frequently Asked Questions

1. Why loan from a licensed money lender?

When in need of financial assistance, make sure that you loan only from a licensed money lender. The business of money lending is governed by the Ministry of Law for the purpose of protecting the rights and well-being of borrowers. Loan sharks are always out there, waiting for the desperate to fall victims of their pretentious and deceiving promotions.

Licensed moneylenders in Singapore only do their business according to the laws and regulations set by the Ministry of Law. Money lenders cannot charge your personal loan with interest rates that are more than what the Ministry of Law sets as a cap. Only an interest rate of up to 4% is allowable. Any interest rates that are more than that is illegal.

Another reason for loaning money from money lenders is that when you default from payment of loans, they cannot resort to harassment, intimidation and threat.

2. How to apply for a loan? When approved, how fast can I receive the loan?

There are three easy steps in applying for loans from a licensed money lender in Singapore. First, visit their website and look for the application form. Fill up this form. Make sure not to leave any information asked unanswered.

Some money lenders may ask you to download their mobile app and to register an account. When not required, just proceed to filling up the application form found in their websites.

Second, wait for the initial feedback. The feedback usually contains the maximum loan amount you can borrow as well as the loan tenure.

And third, head down to the official place of business of your chosen licensed moneylender. You will be asked to sign the contract. Make sure, however, that before you sign the said contract, you have understood specific terms of your personal loan. If not, then do not hesitate to ask your money lender for clarification.

Once the contract-signing is done, the legal money lender Singapore may instantly hand you the loan on the same business day. Remember, your loans cannot be issued online as this is a strict business rule that licensed money lenders in Singapore cannot waive.

3. My income is not fixed. Will I still get my loan application approved?

Having a fixed income matters but it is not the only thing that matters. Not having a fixed income does not necessarily mean not having an income at all. Hence, you may still borrow but the money lender might not approve a higher loan amount for you.

Your income, whether fixed or not, must be proven. Hence, licensed money lenders would ask you to present proof of income in the form of an income tax statement or even just a computerized pay slip.

You may be asked to submit income tax returns or recent 3 months payslip for the purpose of averaging your monthly income. When the average has been computed, such will be the basis of how much personal loan you may be allowed to borrow.

4. I have a poor credit score from my past loan transactions with other banks. Will this prevent me from getting a loan?

Your poor credit score will not bar you from borrowing loans from moneylenders in Singapore. You will be adequately evaluated to determine whether your financial situation has improved.

Credit score is not the only factor which moneylenders consider. Other aspects of your personal finances like employment, sources of income, current debt and other similar factors can be taken into account.

Money lenders in Singapore vary in handling their money-lending business. They have different methods of assessing clients. They have a wide range of products that are meant to accommodate more borrowers who are differently situated in life. Your task, therefore, is to find the right licensed money lender for you.

5. Will I still get another loan if I already have one with a bank?

In reality, the majority of borrowers in Singapore have multiple loans and we do understand that. These loans may be from banks and other financial intermediaries. There is nothing stopping you from borrowing money from licensed money lenders as well. You can have different types of loan at the same time from different lending institutions.

Some may simultaneously have school loan, car loan and home loan from various financial intermediaries. These situations will not prevent a borrower from getting personal loans from a moneylender should they need more.

Of course, this does not mean that you can have unlimited loans. You will still have to go through loan application processes that include sufficient assessment. Such assessment is needed to prevent you from borrowing more than what you can pay. Every responsible Singapore money lender will not mindlessly approve your loan.

6. Will I know if the money lender is a scam?

Of course, you will! Loan sharks engage in promotional tactics that are not used by legal money lenders. Take for example, in advertising loan services and products, a licensed moneylender uses its official website and physical stores. It will not randomly contact clients via text messages, phone calls, WhatsApp or email which are some of the usual platforms utilized by loan sharks.

Any illegitimate money lending business specifically targets those who are most desperate of money. They are usually the ones who lack qualifications to get their loan application approved by traditional lending institutions.

Loan sharks would entice them by offering very attractive personal loan packages. When a moneylender offers you a loan amount that is more than your paying capacity, without even bothering to know your sources of income, back out immediately as it must be a scam.

Another indication of transacting with loan sharks is the non-existing contract. Interest rates and other charges can be unilaterally imposed by loan sharks even without prior consent of clients.

The Ministry of Law lists down all licensed money lenders in Singapore. Before borrowing money, make sure that the moneylender involved is in the list otherwise, it’s a scam!


You will need a platform that assists you in making the best decision by allowing you to compare your possible options. Interest rates affect your decision as well as other important considerations which a loan quote provides. Let Loan Advisor help you make an informed choice.

There may be a lot of moneylenders in Singapore that are near you but you cannot really determine the most suitable one unless you get to compare each and every one of them through loan quotations that Loan Advisor may give you beforehand. Check our Loan Advisor for the best loan deals in Singapore!

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