Licensed Money Lender In Singapore | Best Legal Loan Company
Looking for a licensed money lender in Singapore? Get your loan approved in just 15 minutes with 96bm Credit. Enjoy a hassle-free application process, seamlessly integrated with Singpass Myinfo for quick approval.
Speedy loan approval
Affordable interest rates
100% legal loans
Customer Testimonials for Our Money Lending Services
Our Legal Loan Company Office Located in Ubi, Singapore
How We Are Different from Other Licensed Money Lenders in Singapore
96bm Credit is the leading online money lender in Singapore.
As a trusted licensed money lender in Singapore, we are committed to providing a hassle-free experience for our customers. With online loan applications available 24/7 on our website, and seamlessly integrated with Singpass Myinfo, applying for a loan has never been easier.
Our friendly loan company consultants speak English, Chinese, and Hokkien and are always available should you require further information about our instant cash loans.
In addition to personal loans and business loans, we specialise in weekly, monthly, and debt consolidation loans and offer fast loan disbursement via cash, PayNow, or bank transfer.
Easily Apply for a Money Lender Loan Today
Your privacy is important to us. As a fully legal money lender and licensed loan company in Singapore, we are strictly governed by the Moneylenders Act. All loan applications will be handled with the utmost confidentiality and privacy.
Have a Good Credit History or Are You a Regular Client?
These are the benefits* you can enjoy:
Instant Loan Approval
- Higher loan amount
- Faster processing time
- Dedicated loan specialists
- Potential to qualify for second loan upon evaluation
Longer Repayment Term
- Customised payment due date
- Live repayment updates
- Payment due reminders
- Grace period for late repayment to avoid late charges
Potentially Reduced Interest Rates and Processing Fees
- Pro-rated interest for early settlement
- Potentially qualify for Payday Loans at 0% interest
Enhanced Customer Experience
- Special priority queue
- Free Credit Report from Credit Bureau Singapore
- Free Statement of Accounts
- Financial advice on debt management
- Special loan scheme to manage debts
Instant Loan Approval
- Higher loan amount
- Faster processing time
- Dedicated loan specialists
- Potential to qualify for second loan upon evaluation
Longer Repayment Term
- Customised payment due date
- Live repayment updates
- Payment due reminders
- Grace period for late repayment to avoid late charges
Potentially Reduced Interest Rates and Processing Fees
- Pro-rated interest for early settlement
- Potentially qualify for Payday Loans at 0% interest
Enhanced Customer Experience
- Special priority queue
- Free Credit Report from Credit Bureau Singapore
- Free Statement of Accounts
- Financial advice on debt management
- Special loan scheme to manage debts
Loans We Offer as a Legal Private Money Lender
Loans We Offer as a Legal Private Money Lender
Bridging Loan
Study Loan
Apply for a Loan with a Reliable Licensed Money Lender in Singapore
Our Private Money Lender Interest Rates and Fees
With our affordable loan rates, 93% of our clients successfully repay their loans on time.
Personal and Business Loans Interest Rates: 3-4%* per month
Licensed Money Lenders Processing Fees: 8-10%*
*Subject to approval
Loan Eligibility Criteria for Licensed Money Lenders in Singapore
Minimum age requirement: 18 years old.
Proof of consistent income – you don’t have to be employed full-time to be eligible for a loan from a legal money lender. As long as you have proof of income statements like bank statements and invoices, you are welcome to apply with our loan company in Singapore.
Must be a resident of Singapore – proof of address via utility bills, tenancy agreement, etc.
Loan limits:
|
Borrower’s |
Singaporeans |
Foreigners residing |
|
Less than $10,000 |
$3,000 |
$500 |
|
At least $10,000 and |
$3,000 |
|
|
At least $20,000 |
6 x monthly income |
6 x monthly income |
Loan Eligibility Criteria for Licensed Money Lenders in Singapore
Minimum age requirement: 18 years old.
Proof of consistent income – you don’t have to be employed full-time to be eligible for a loan from a legal money lender. As long as you have proof of income statements like bank statements and invoices, you are welcome to apply with our loan company in Singapore.
Must be a resident of Singapore – proof of address via utility bills, tenancy agreement, etc.
Loan limits:
Borrower’s annual salary
Singaporeans & PRs
Foreigners residing in Singapore
Less than $10,000
$500
At least $10,000 and less than $20,000
$3,000
$3,000
At least $20,000
6 x monthly income
6 x monthly income
How to Apply for a Loan with a Licensed Money Lender in Singapore?
Complete your loan application by filling out the enquiry form online or retrieving your details via Singpass Myinfo.
Once your application is received, our loan consultant will call to schedule your visit. Bring the necessary documents for verification:
- Singaporeans/PRs: NRIC, latest 3 months’ payslips, and proof of income (e.g., bank statements, CPF statements or income taxes — the latter two are available through your Singpass account).
- Foreigners: Employment pass, latest 3 months’ payslips, and proof of address (e.g., tenancy agreement, proof of billing address, etc).
At our office, complete the face-to-face verification and review the loan contract terms with our loan consultant. Upon signing, your loan will be approved in 15 minutes, and the amount disbursed via cash, PayNow, or bank transfer.
Common Questions
about licensed money lenders in Singapore
More questions about licensed money lenders in Singapore?
How to check if a licensed money lender in Singapore is legitimate?
Start by checking MinLaw’s list of approved licensed money lenders. Legitimate lenders adhere to strict regulations under the Moneylenders Act, including transparent fees and proper data handling practices. Their licence should be prominently displayed in their office or provided upon request.
Be wary of suspicious marketing tactics
Licensed money lenders in Singapore follow strict advertising guidelines set by MinLaw. Promotions are limited to business directories, official websites, and signage at their premises. Be cautious of unsolicited messages, emails, or flyers offering low-interest loans – they’re likely from scammers or illegal money lenders.
Learn about the regulations that apply to local money lenders
Trusted money lenders in Singapore are required to conduct a face-to-face verification before loan disbursement, during which the loan consultant will clearly explain the loan terms, repayment schedule, interest rates, and any potential late fees. Licensed money lenders in Singapore operate strictly within regulatory limits set by law to protect borrowers. Interest rates are capped at 4% per month, and total charges – including late fees and administrative costs – cannot exceed the loan sum.
What are the differences between borrowing from unlicensed money lenders and licensed money lenders?
Here are three key differences between licensed and unlicensed money lenders.
Regulated versus unregulated interest rates and charges
Licensed money lenders in Singapore must disclose their interest rates and fees and state them in the contract. If a lender is unwilling to provide these details or offers terms beyond the legal limits, disengage immediately, as this could be a scam.
Regulated debt collection versus scare tactics
Authorized money lenders in Singapore follow strict guidelines for debt recovery by using professional debt collectors and negotiating repayment plans. In contrast, illegal money lenders often resort to intimidation and harassment, which should be reported to the authorities.
Legal loan limits for private lenders in Singapore
Licensed money lenders in Singapore must adhere to regulated loan limits based on your income and nationality. Avoid unlicensed lenders who claim there are no limits for loans like personal or renovation loans.
Licensed money lender versus bank: what sets them apart?
When it comes to taking out a loan, many people consider banks. Banks offer loans up to 10 times the borrower’s monthly income, while licensed money lenders are limited to six times the borrower’s salary. But here’s why more are turning to fast, legitimate local money lenders:
Credit score affects bank loans
Banks have stricter eligibility criteria. Individuals with poor credit scores can often secure a loan from legal money lenders as long as they meet the standard eligibility criteria for their annual income and nationality. Banks are less flexible with bad credit histories.
Fast approval and turnaround
Licensed money lenders can approve applications within 30 minutes, with funds disbursed immediately after the contract is signed. Bank loans, on the other hand, involve additional checks and approvals, causing delays that deter those in need of an instant loan.
Shorter repayment periods
Licensed money lenders offer short repayment periods, ideal for smaller loans. Bank loans typically have longer repayment terms for larger sums.
How much money can I borrow from a money lender?
The amount you can borrow from a licensed money lender in Singapore depends on your income, nationality, and whether the loan is secured or unsecured.
Here are the borrowing limits for unsecured loans from legal private lenders:
| Annual Income | Singapore Citizens and Permanent Residents | Foreigners residing in Singapore |
|---|---|---|
| Less than $10,000 | $3,000 | S$500 |
| At least S$10,000 but less than S$20,000 | $3,000 | $3,000 |
| At least S$20,000 | 6 times monthly income | 6 times monthly income |
How can I reach out to you?
You can easily reach out to a loan consultant at 96bm Credit through various convenient channels.
For quick enquiries, visit our website and fill out the contact form. Alternatively, you can connect with us directly via WhatsApp, and our team will respond promptly to assist you. If you prefer a face-to-face consultation, visit our office in Ubi.
Where is 96bm Credit’s office located at?
96bm Credit is centrally located along Ubi Avenue 1, just a 2-minute walk from Ubi MRT Station (Downtown Line).
If you’re driving, you’ll find several spacious parking lots conveniently situated just behind our office. Additionally, we are only a minute’s walk from POSB Bank, and nearby you’ll find a SAM machine and an AXS machine for easy transactions.
Our office is fully air-conditioned, featuring a spacious waiting area with comfortable seating, a water dispenser, and soft music to ensure a relaxing visit. For those seeking a reliable Ubi money lender, 96bm Credit offers professional, transparent services in a highly accessible and welcoming location.
Can I still get a loan from a legal money lender if I have a bad credit score?
Yes, you can still get a loan despite having a bad credit score. While a poor credit history may prevent you from securing a loan from a bank, licensed money lenders in Singapore are more lenient. They focus more on your current financial health rather than past credit issues. If you can provide proof of your ability to repay, such as income or allowance statements, your application is likely to be viewed favourably.
To increase your chances of approval, consider applying for a smaller loan amount. Often, loans are declined because borrowers with bad credit apply for higher amounts. Keeping the loan request low can improve your odds.
