Licensed Ubi Money Lender, 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?
Verify your lender’s licence 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. For more tips on borrowing safely from a lender, read our guides on choosing the right lender for your financial needs and how to identify a blacklisted money lender.
Is it easy to obtain money lender loans?
Individuals can often secure a loan from legal money lenders as long as they meet the standard eligibility criteria and are able to furnish all required income and identification documents.
Do I need guarantors to take out a licensed money lender loan?
Most of the time, guarantors are not required. Chat with us to learn more — we’re happy to help.
Do authorised money lenders provide secured or unsecured loans?
For the most part, authorised money lenders in Singapore offer unsecured loans. Not all authorised lenders offer secured loans.
Should I compare licensed money lenders’ loans?
Absolutely. Loan packages offered by registered money lenders can vary in terms of interest rates, fees, and charges. It is recommended that you compare several loan offers before settling on the ‘best’ one that suits what you are looking for.
For borrowers considering longer repayment horizons or larger financing needs, you may also find our guide on the top 5 long-term loans in Singapore helpful in understanding which loan types best match different financial goals.
What are the permitted marketing tactics for licensed money lenders in Singapore?
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.
Can I trust licensed money lenders’ advertisement content?
You can trust the advertisement content, but it is still best practice to speak with the lender to clarify all loan terms and conditions before committing to the loan. This is true regardless of how enticing the advertisement may be.
Can licensed money lenders grant loans without doing credit assessments?
No, licensed money lenders are not allowed to grant loans without doing credit assessments. Fret not, their credit checks based on your Loan Information Report are quick and straightforward.
Do licensed money lenders have to meet borrowers in person?
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.
Are licensed money lenders’ interest rates capped?
Licensed money lenders in Singapore operate strictly within regulatory limits set by law to protect borrowers. Interest rates and late interest rates are both capped at 4% per month.
That’s not all. The total charges a licensed money lender can charge — including interest, late interest, late fees and administrative costs — cannot exceed the original principal loan sum, no matter how overdue repayments may be.
What are the administrative costs for money lender loans?
The administrative costs for money lender loans vary from lender to lender. Licensed money lenders in Singapore are allowed to charge up to 10% of the principal loan sum for this.
Do licensed money lenders have any upfront fees?
No, licensed money lenders do not have any upfront fees that you need to worry about. Any administrative cost associated with your loan application can only be charged after the loan is granted, and contract signed.
What is the late repayment penalty charge for money lender loans?
The late repayment penalty charge for money lender loans varies, but the maximum chargeable is capped at $60 for each month of late repayment.
How do unlicensed and licensed money lenders’ interest rates and charges differ?
Licensed money lenders in Singapore must disclose their interest rates and fees, and state them clearly in the contract. Their interest rates and charges are regulated. If a lender is unwilling to provide these details or offers terms beyond the legal limits, disengage immediately as you may unknowingly be dealing with unlicensed lenders.
How do authorised money lenders go about collecting debts?
Authorised 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.
Do licensed money lenders have loan limits?
Licensed money lenders in Singapore must adhere to regulated loan limits based on your income and nationality for unsecured loans.
Here are the borrowing limits that apply to all unsecured loans you can take from legal private lenders at any one point:
| 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 |
Pro tip: Avoid unlicensed lenders who claim there are no limits for loans like personal loans or renovation loans!
Do licensed money lenders focus on borrowers’ credit scores?
Not really, licensed money lenders do not focus on borrowers’ credit scores as per their Credit Bureau Singapore credit report.
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.
How can I increase my chances of loan approval with licensed money lenders?
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.
Are licensed money lenders’ turnaround times fast?
Licensed money lenders can approve applications within 30 minutes, with funds disbursed immediately after the contract is signed. Banks, on the other hand, involve additional checks and approvals, often causing delays that deter those in need of an instant loan.
How do licensed money lenders’ repayment periods compare with banks’?
Licensed money lenders in Singapore offer short repayment periods, ideal for smaller loans. Typically, authorised lenders offer loan tenures of up to 12 months. Bank loans usually stretch for years on end.
Should I borrow the maximum sum offered by the licensed money lender?
You should borrow the least amount of money required to tide you over your emergency. It is always better to be prudent and ensure you’re able to repay what you owe.
What happens if my money lender charges late interest on amounts not yet due?
Licensed money lenders are only allowed to charge late interest on overdue payments. If your lender charges you late interest on amounts that aren’t due yet, do not hesitate to lodge a complaint against the lender with the Registry of Moneylenders right away.
What’s the best way to avoid late repayment penalty fees and late interest charges?
You’ll have to ensure you make timely repayments for all your loan instalments before their due date. You might want to automate GIRO payments to be on the safe side of things.
If you are unable to pay your money lender due to personal circumstances, do inform your lender early. In most cases, your lender will be happy to make alternative repayment arrangements that are more manageable for you.
Can my money lender loan repayment date be after my payday?
This is most likely possible and highly encouraged. Do make this request when discussing your loan contract with your dedicated loan officer!
How can I reach out to a licensed lender like 96BM Credit?
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?
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 you’ll find a SAM machine and an AXS machine nearby 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.