1 2 Lend Review Singapore 2025

1 2 Lend Pte Ltd is a licensed moneylender in Singapore operating in People’s Park Complex, in Chinatown. They have been in business since 2018. Like all licensed moneylenders, they are regulated by the Ministry of Law. In contrast, banks and non-bank financial institutions are regulated by the Monetary Authority of Singapore. Read on to find out more about 1 2 Lend Pte Ltd. 

» Compare: Personal loans from top lenders in Singapore

1 2 Lend Pte Ltd offers a bewildering range of personal loans, from renovation loans to cosmetic surgery loans. Here is the full list of personal loans they offer:

• Personal Loan

• Fast Cash Loan

• Business Loan

• Foreigner Loan

• Payday Loan

• Vacation Loan / Holiday Loan

• Wedding Loan / Marriage Loan

• Furniture Loan

• Renovation Loan

• Car Loan

• Weight Loss Loan

• Plastic / Cosmetic Surgery Loan

• Grab Taxi Driver Loan

Despite what it says on the tin, you don’t have to apply for a specific type of personal loan in order to obtain funds for a particular end goal. Generally speaking, personal loans can be used for multiple purposes, as long as you repay your loan on time. There is no restriction on what you can use your funds for, once your loan has been approved.

Despite this and the elevated interest rates of certain licensed moneylenders, some people may prefer to borrow from licensed moneylenders instead of banks. This is because individuals with bad credit scores or insufficient credit history may find it challenging to obtain a bank loan. According to the Credit Bureau of Singapore, credit scores under 1,723 are classified as bad. If you’re applying for a loan from a bank, they may reject your application if they concede that the risk assessment may not work out in their favour. When it comes to licensed moneylenders, however, they’re more likely to approve your application, as long as you have a steady source of income.

There may be no shortage of licensed moneylenders in Singapore, but they are all bound by the rules and regulations set by the Ministry of Law. For instance, they must not charge more than 4% interest on a per month basis. While this may sound reasonable, the law of compound interest applies here, which means things can snowball very quickly.

To give you an illustration of how this adds up, a personal loan of S$50,000 with a tenure of 12 months with an annual interest rate of 4% translates to a total repayment of S$63,931.32. That means paying S$13,931.32 in total interest! In contrast, a loan of the same amount and tenure with an interest rate of 1.99% p.a. means you’ll only need to repay S$1,495 in interest. 

Licensed moneylenders are also limited by how much they can legally lend, which is dependent on the citizenship status and income level of the borrower. For example, a Singapore citizen with an annual income of S$21,000 will be able to borrow a maximum sum of 6 times of their monthly income. Meanwhile, a foreigner earning less than S$10,000 per year will only be able to borrow a maximum of S$500.

» Learn: Borrowing from licensed moneylenders vs. banks