Best Monthly Loan in Singapore

A1 Credit

Address: 2 Havelock Road #02-08 Havelock II Singapore 059763

Phone: 6336 0833

Licence No.: 17/2019

(19 reviews)

Low Interest

Top Rated on Google Review

Secure & Confidential


Advance Planners Credit

Address: 220 Orchard Road #01-08 Midpoint Orchard Singapore 238852

Phone: 6235 1788

Licence No.: 83/2019

(19 reviews)

Low Interest

Top Rated on Google Review

Secure & Confidential


Top Legal Money Lender in Singapore

A financial crisis can happen at any time and you may require an urgent cash loan to overcome it right now.

The best and safest legal source of acquiring a loan in Singapore is through Banks and Licensed Moneylenders.

For short term or urgent loans, we highly recommend getting the loan from a Licensed or Legal Moneylender as it will be less hassle when compared to the long approval process of a Bank. For Licensed Lenders, a loan is usually approved within the same day of application.

There are many loan providers out there, and aims to cut the noise by filtering the best reviewed and reliable licensed moneylenders to help you better select an ideal lender according to your requirements. So do check out the reviews by past lenders on our site.

All the Legal Moneylenders listed on our site are verified to meet the following requirements:

  • No obligation loan inquiry by filling up the form.
  • 30 Mins Quick Cash Loan process.
  • Flexible Monthly Repayment Plans up to 5 Months Instalment.

In our list “Licensed Moneylender Singapore”, we give you all details you need about the legal moneylenders who are permitted to provide loans to the common man. You can get the list of licensed moneylender in Singapore from the government site, however, if you want to get the list of the best licensed moneylenders you can seek help from us. Each moneylender we have included in our list has the credentials verified. We check about their credibility and also we personally study about them to present you with our review. The first and the most important thing that we check is whether they are legal moneylenders. You just have to select the agency from the list we have given on our website.

Things To Take Note When Taking Loan From a Licensed Money Lender

Impersonating a legal licensed moneylender in Singapore by illegal moneylenders such as loan sharks is not something unheard of. In fact, if someone approaches you via Whatsapp or SMS with a quick loan advertisement, the person is highly likely to be operating an illegal moneylending business because there are strict guidelines for moneylenders to advertise their services.

Of course, if the deal is too good to be true, using abusive languages or the party request for your Singpass and password over the phone, you should be wary of such practices. The need to protect yourself is much greater than the need to resolve a financial problem.

Here we share some of the key information that you need to take care when you are taking a loan.

Thoughts When Taking A Loan

You need to remember these key points:

  • Before visiting a legal moneylender, look at other alternatives. This can be a different financial help scheme from various Government agencies. You can contact these agencies for more information about their programs.
  • Legally you have to repay any installment on loan. This is based on the contract you sign with licensed moneylenders.
  • Consider if you can stick to the contractual terms. Consider your wages and financial commitments. Borrow what you require and can repay. Remember that when you cannot meet the agreement terms. Late payment costs and interest payment can be a financial strain. This can affect both your family and you too.
  • By law legal moneylenders should explain the loan terms to you. They should use a language you easily understand. They should also offer you a copy of your loan contract. Ensure you completely understand the contract terms. Mostly, the interests charged, and repayment schedule. This is in addition to the costs applicable.
  • Consider carefully before you accept any contractual terms. More so that allows a moneylender to set a caveat. That is on sale returns of your property. This is in case of default on loan repayment. Once a caveat gets lodged on your property. It means selling it without repaying your moneylender. It will not be possible. If the repayment gets deducted from the proceeds from the sale of your property. This can clear out all or a big portion of these proceeds.

Fees That Licensed Moneylenders May Charge

Effective 1st October 2015. Moneylenders may impose the below expenses and charges:

  • A charge not more than $60 for every month of late payment;
  • A charge not more than 10% admin fee. This is of the initial amount of the loan as it was first granted; and
  • Legal charges ordered by a court for any successful claim done by a moneylender. This is for recovery of your loan.

The total fees imposed by moneylenders on any loan. These include interest, upfront processing fees. Others are late interest, and late fees. These cannot exceed the amount equal to the initial loan. That is of the personal loan you borrowed. 


Ascertain that the moneylender offers you the correct principal amount of the personal loan. The licensed moneylender is only allowed upfront deductions of the approval fee. This is about 10% of your initial amount. You need to retain all account statements and the receipts of payments. This act as the confirmation and evidence of payments. If you are unsure, always check the reviews of moneylenders in Singapore to ensure you are getting the best one.

Notes to borrower: aims to be the best financial directory in Singapore. We do not represent any licensed moneylender or offer any loans directly, over the phone or at our office or otherwise. We ensure that all advertisers featured in our business directory are evaluated and selected carefully, particularly those that are licensed by government authorities.

The minimum period of repayment is 2 months and the maximum period of repayment is 6 months. The interest rate offered by the licensed moneylenders is 1% to 4% per month, depending on your credit rating and other factors. This corresponds to a 12% to 48% Per Annum APR based on monthly reducing interest rate.

For example, if you borrow $1,000 for 6 months, at the maximum interest rate of 4% per month (48% APR), your monthly repayment will be $190.76 and total interest for the 6 months is $144.58.

The example mention above is an estimation and for illustration purposes only, please check with the respective Licensed Moneylenders as it may vary due to loan amount, period of loan and other fees such as late fee and late interest rate that may be charged in the event of violation on terms & conditions.

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A1 Credit (Clarke Quay)
Advance Planners Credit (Somerset)