Licensed Moneylenders In Woodlands
Updated: 11 Aug 2026
Written bySingSaver Team
Team
⚡ Quick Answer
| Loan | Maximum Loan Amount | Monthly repayment | EIR |
|---|---|---|---|
| EZ Loan | S$1,000,000 | - | - |
| Cash Direct | S$500,000 | - | - |
| MM Credit Pte Ltd | S$500,000 | - | - |
Disclaimer: The information on this page is for general educational and informational purposes only and should not be considered financial or investment advice.
If you live in Woodlands and are considering borrowing from a licensed moneylender, you'll want to know exactly who's regulated and how much you can safely borrow before approaching anyone.
HS Credit, located near Marsiling MRT and serving the wider Woodlands, Marsiling, Admiralty, and Sembawang area, has long been one of the most established licensed moneylenders serving this part of Singapore. It's regulated under the Ministry of Law's Registry of Moneylenders, ensuring borrowers are protected by clear rules and transparent practices. That said, the list of licensed moneylenders serving any given area can change between licence renewals, so it's always worth checking the official Registry of Moneylenders list for the most current options near you before proceeding.
Licensed moneylenders typically charge interest rates between 1% and 4% per month. This spread is in line with national regulations, which cap the maximum interest rate a licensed moneylender can charge at 4% monthly. Beyond interest, administrative fees are also regulated and cannot exceed 10% of the principal loan amount. No matter which lender you approach, always verify their licence status on the Ministry of Law's official website before proceeding.
Overview of licensed moneylenders in Woodlands
| Moneylender | Address | Contact Details |
|---|---|---|
| HS Credit | Blk 302 Woodlands Street 31, #01-295, Singapore 730302 | 6887 0016 / hello@hscredit.sg |
HS Credit has been a long-established licensed moneylender serving the Woodlands and surrounding Marsiling area. Always verify current licensing and check whether other licensed moneylenders have since begun operating nearby via MinLaw's official registry, since the list of active licensees can change between annual renewals.
Online licensed lenders you can apply to from Woodlands
While HS Credit operates a physical branch in Woodlands, you can also apply to these online licensed moneylenders from anywhere in Woodlands without visiting an office in person:
Bank Personal Loan Alternatives
For borrowers with a stable income (typically S$30,000/year and above for Singaporeans/PRs), bank personal loans often provide much lower interest rates and higher loan limits compared to moneylenders. Here are top recommended bank personal loans to consider:
1. Trust Personal Loan
-
Interest Rate: Competitive instant rates via Trust App
-
Key Benefit: Instant approval and disbursement directly to your Trust account with no processing fees for eligible customers.
2. UOB Personal Loan
-
Interest Rate: From 2.88% p.a. (EIR from 5.43% p.a.)
-
Key Benefit: Flexible tenures up to 5 years with instant cash disbursement upon approval for existing UOB account holders.
3. SCB CashOne Personal Loan
-
Interest Rate: From 2.88% p.a. (EIR from 5.84% p.a.)
-
Key Benefit: Quick online application with cash disbursed in as fast as 15 minutes.
How much can I borrow with a licensed moneylender
The Ministry of Law defines loan limits as follows:
| Annual income | Singaporean/PR | Foreigners |
|---|---|---|
| Less than S$10,000 | S$3,000 | S$500 |
| At least S$10,000 and less than S$20,000 | S$3,000 | S$3,000 |
| At least S$20,000 | 6 times monthly income | 6 times monthly income |
>> MORE: What is unlicensed money lending
How do I apply for a loan with a licensed moneylender
- Gather required documents: Prepare your NRIC, proof of income and proof of residence (e.g., recent utility bills). Foreigners must also provide a valid employment pass and proof of current Singapore address.
- Select a licensed moneylender: Confirm the moneylender's legitimacy by checking the Ministry of Law's Registry of Moneylenders before proceeding.
- Submit your application: You can apply online or in person at the moneylender's office. They will verify your documents and explain the loan terms.
- Review the loan agreement: Licensed moneylenders are required to go over the contract details with you. Ensure you fully understand the repayment schedule, interest rate, and any associated fees.
- Finalise the loan: Once you agree to the terms, sign the contract. The approved loan amount will then be disbursed to you.
How do I make sure a moneylender is licensed?
Always check the Ministry of Law's Registry of Moneylenders website. Only those listed are permitted to operate. Note that licensed moneylenders are permitted to advertise only through these three channels:
- Business or consumer directories (in print or online media)
- Websites belonging to the moneylender
- Advertisements placed within or on the exterior of the moneylender's business premises
Avoid lenders that advertise through SMS, cold calls, or social media messages, as these are unlicensed and illegal.
Is it safe to borrow from licensed moneylenders in Singapore?
Yes, as long as you borrow from licensed moneylenders. The Ministry of Law regulates interest rates, fees, and repayment terms. Borrowers are protected from harassment and unfair practices. However, it is still important to borrow responsibly and only within your means.
Frequently asked questions about licensed moneylenders in Woodlands
If you fail to make payments, the lender can take legal action against you. Your debt may increase due to late payment fees, and your creditworthiness will be affected.
Singaporeans and permanent residents earning less than S$20,000 annually can borrow up to S$3,000. Those earning above this amount can borrow up to six times their monthly income.
You can lodge complaints with the Registry of Moneylenders under the Ministry of Law. Helplines such as the Credit Counselling Singapore hotline are also available for advice.
Yes, foreigners can borrow, but the maximum loan amount depends on their income and work pass status.
Alternatives include borrowing from banks, credit cooperatives, or exploring financial assistance schemes offered by government agencies.
About the author
SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.