Perhaps you’re pressed for cash due to an untimely car repair expense, or you need money to fix things around your home. If you’re in a tough financial position, a loan may just be the answer. We’ve researched and found the 3 best licensed money lenders in Singapore.
These lenders offer various loans to suit different financial needs, such as payday loans, business loans, and medical loans. They offer favourable conditions, such as low-interest rates and flexible terms. Loans are also available for foreign nationals with permanent residency in Singapore.
All the moneylenders on our list are licensed and listed in the money lender registry by the Ministry of Law in Singapore. Choosing a licensed money lender is crucial as it ensures that the lender will comply with the rules and regulations of lending money and that your interests will be protected.
In contrast, working with an unlicensed lender can result in fraud and data theft.
Applying for a loan is easy as you can complete the application online. Once approved, you can visit the moneylender and finalise the loan agreement.
Ensure that you read the agreement and understand your obligations before signing it. Defaulting your loan repayment can have legal consequences and damage your credit score.
