Licensed moneylenders in Singapore can be a helpful option when you’re facing short-term financial stress—whether it’s paying off a medical bill, covering emergency home repairs, or managing a cash flow crunch.

But not all lenders are equal, and borrowing from the wrong one may lead to more harm than help. Here's a complete guide to understanding how licensed moneylenders work in Singapore, how to choose the right one, and what to be careful about before signing anything in 2025.

To create this guide, the SingSaver editorial team reviewed the latest regulatory guidelines from Singapore’s Ministry of Law, including the Moneylenders Act and official policies listed on the Registry of Moneylenders. We also analysed 2025 loan packages, fees, and borrower policies from a selection of licensed moneylenders currently listed on the Ministry’s database.

Lender details were evaluated based on:

• Transparency of fees and interest rates

• User reviews on Google and third-party platforms

• Customer support responsiveness and approval speed

• Accessibility of loan terms for Singaporeans and foreigners

• Whether the lender maintains a physical branch in compliance with Singapore law

1. EZ Loan – Your Trusted Licensed Moneylender in Singapore

At EZ Loan, we are a fully licensed and regulated moneylender, backed by decades of experience and fully compliant with the Ministry of Law. We understand that financial challenges can arise unexpectedly, so we offer personalised loan services tailored to your unique needs.

With convenient locations at Beach Road and Marina Square, help is always within reach. Our application process is quick and straightforward, with approvals typically granted within hours. By leveraging Singpass, borrowers can enjoy even faster processing times, receiving funds in minutes—all while supporting a paperless approach that helps protect the environment.

At EZ Loan, we make it EASY to access the financial support you need, whenever you need it.

2. Cash Direct Pte. Ltd.

Cash Direct Pte. Ltd. (licence no. 89/2025) is a licensed moneylender based in Vision Exchange, Jurong East. Since its establishment, Cash Direct has built a strong reputation for its quick online application process, which can result in approval within 30 minutes. Borrowers commend Cash Direct for its competitive interest rates, which generally range from 2% to 3.92% per month, and the clarity of its loan terms. The company offers a variety of loan products, including personal loans, medical loans, wedding loans, and business loans. Many customers appreciate the range of perks for returning borrowers, such as reduced processing fees and extended repayment terms.

Widely recognised as one of the top 5-star reviewed licensed moneylenders in Singapore, Cash Direct has served thousands of satisfied customers over the years. With office hours that extend to Sundays, the company offers greater flexibility for those in need of urgent funds. Its responsive staff and commitment to clear communication make the loan process straightforward and stress-free. The company is located at 2 Venture Drive, Vision Exchange, and provides a convenient digital application flow via SingPass for a hassle-free experience.

3. MM Credit Pte. Ltd.

MM Credit Pte. Ltd. (licence no. 6/2023) is a licensed moneylender located at Marine Parade Central. Known for its fast and transparent service, MM Credit has gained a reputation for quick loan approvals, often processing applications in under 15 minutes - and borrowers can expect to receive their money within the hour. Borrowers appreciate the lender's friendly staff, who are eager to assist clients, even those with poor credit histories. The company offers a range of loan products, including payday loans, personal loans, renovation loans, and loans for foreigners. With competitive interest rates generally ranging from 2% to 3.9% per month, MM Credit ensures that all fees are clear and upfront, providing peace of mind for customers in urgent need of financial support. The approval process is fast, and many borrowers have reported same-day disbursements. MM Credit operates with a customer-centric approach, and its team is praised for its professional yet approachable manner. The company is located at Blk 83 Marine Parade Central #01-584/586, with operating hours from Monday to Saturday, closing on Sundays and public holidays.

4. JD Credit Pte Ltd

JD Credit Pte. Ltd. (licence no. 45/2025) is a licensed moneylender operating from Hong Lim Complex in Chinatown. Borrowers often highlight how the staff are experienced and accommodating, especially when it comes to helping foreign applicants secure larger loans. Reviews describe the approval process as fast — often within a day — with transparent flat‑rate fees and friendly service that borrowers trust to resolve urgent financial needs.

5. Shenton Credit

Shenton Credit Pte. Ltd. (formerly RJS Credit), licensed in 2019 (licence no. 68/2025)

and located near Raffles Place, earns praise for its professional, high‑touch approach. Customers consistently note clear communication, precision in explaining loan terms, and efficient use of MyInfo to speed up the online application. Their tailored packages suit different scenarios — from medical or wedding loans to debt consolidation — and many mention the peace of mind working with a highly rated licensed lender.

6. Credible.sg

Credible.sg Personal Loan (Credible.sg) is a Singapore-based loan-matching platform that connects borrowers with vetted, licensed moneylenders. Their mission is to empower you to understand and improve your finances, matching you with personal loan offers that suit your credit profile and financial goals, all through a soft credit check that doesn’t affect your credit score. Credible prides itself on trustworthiness and fairness, selecting only lenders with transparent pricing and high customer satisfaction. You apply via SingPass, they provide prequalified offers from multiple lenders at no charge, and then you complete the actual loan agreement directly with the chosen lender. This is ideal if you want to compare rates, loan terms, and perks — such as fee waivers or cashback — without committing upfront; and you still enjoy fast funding once approved.

7. Friday Finance

Friday Finance (licence no. 85/2025) stands out with bright branding and a modern digital application flow via SingPass MyInfo. Licensed and regulated, they offer interest rates typically between 2–3% per month and a generous 50% rebate on administrative fees if you repay on time. Their personal loan packages also include complimentary personal loan protection insurance. While application steps still require an in‑person signing appointment, most users report same‑day approval and disbursement, making Friday a strong choice for freelancers, sole proprietors, and first‑time borrowers.

The Monetary Authority of Singapore (MAS) regulates a different group of financial institutions — such as banks, finance companies, credit card issuers, and insurance firms. These organisations operate under laws like the Banking Act, not the Moneylenders Act.

MAS-regulated lenders usually offer larger, long-term loans like personal loans, home loans, and business financing. They also follow different licensing standards, including stringent capital requirements, risk controls, and financial reporting. Some examples include DBS, OCBC, UOB, and Hong Leong Finance.

While MAS institutions tend to offer lower interest rates, the approval process can be stricter and slower, especially for those with limited credit history or lower income.

Banks offer lower rates, but licensed moneylenders provide quicker approvals and are more accessible if you don’t qualify for traditional credit.

Borrowing from licensed moneylenders is safer than turning to unlicensed loan sharks. However, it still comes with risks.

Because interest rates are significantly higher than banks, it’s easier to fall into a debt spiral if you’re not careful. Some borrowers may also overlook hidden fees or rollovers that snowball their loan amount. And while licensed lenders must follow regulations, not all are equally ethical—some may use aggressive tactics to pressure repayments.

Always make sure you're working with someone on the official registry and read the fine print thoroughly before borrowing.

Before signing anything, go through these important considerations:

Do you really need this loan?

A short-term loan should only be used for essentials—think medical emergencies, urgent bills, or life necessities. If the money is for shopping, travel, or luxury purchases, it might be better to hold off. Debt should be a last resort, not a convenience.

Higher interest rates

Licensed moneylenders can charge up to 4% interest per month—that's up to 48% per year! Compared to bank loans or even credit cards, that’s ridiculously steep. It adds up quickly if you miss payments, so know exactly what you’re agreeing to.

Other fees and charges

Moneylenders can charge late fees (capped at S$60 per month) and administrative fees (up to 10% of the principal). These are regulated, but some borrowers overlook them and get caught off guard. Always ask for a breakdown of total repayment costs.

How much you’re allowed to borrow

Here’s a general guideline under Singapore law for unsecured loans:

This ensures you don’t borrow more than you can realistically repay, though it’s still important to assess your own budget.

Approval rate & loan disbursement

Licensed moneylenders are known for fast approvals—some even disburse funds within an hour. You usually need to go down in person for identity verification and to sign the contract, as remote loans are not allowed under Singapore law.

Impact on your credit score

Loans from moneylenders don’t affect your credit score the same way as bank loans do, because most licensed moneylenders don’t report to Credit Bureau Singapore (CBS). But if you default and end up in court, that will go on public record, and future lenders may still see it.

Always verify the lender’s license on the Ministry of Law’s official Registry of Moneylenders.

Avoid any lender that:

• Offers loans via unsolicited SMS, WhatsApp, or social media ads

• Asks you to transfer a "processing fee" before disbursement

• Refuses to provide a proper loan contract

• Uses aggressive sales or threats

Licensed moneylenders must operate from a physical office, provide detailed loan documentation, and conduct face-to-face verification.

If you encounter any suspicious moneylenders that may be unlicensed or even be loan sharks, report them immediately to either the police hotline at 1800-255-0000 or the X-Ah Long hotline at 1800-924-5664.