Instant Loan Quotes From Top-rated Money Lenders

Singapore’s financial services industry has a sterling reputation, playing host to banks, asset management firms, and other companies from around the world. Locally, licensed money lending by legal money lenders is more than reputable too.

Legal money lenders here are regulated stringently, with a money lender licence acting like a golden ticket. Currently, there are over 150 companies with a money lender licence. This is a true mark of credibility. However, this also begs the question: Why is a money lender licence so important?

Read on to learn more, and find out how to check a money lender licence from a firm and ensure it’s legitimate before taking on a loan.

Why is a money lender licence important?

A money lender licence is crucial for companies who want to do business by accepting loan applications and disbursing funds. If an aspiring lender doesn’t have it, they are generally not allowed to do business. There’s a set of rules and regulations for licensed lenders in the Moneylenders Act as well.

And as mentioned above, a money lender licence is a badge of credibility. The Ministry of Law requires applicants to take the Moneylender’s Test and fulfil several requirements before they can start operating.

Also, the licence is only valid for 12 months, which means it has to be renewed fairly regularly. This is “subject to the good conduct of the licensee”, according to the Ministry.

Where can I find a list of licensed lenders in Singapore?

The full list of licensed lenders in Singapore can be found online. Rest assured that the Registry of Moneylenders updates this frequently.

As of August 2025, there are 153 licensed lenders in the Lion City, with none being suspended. Here are the details you can expect to see for each company:

• Business Name (e.g. ABC LENDING PTE. LTD.)
• Business Address (e.g. 123, ORCHARD ROAD, #01-01, SINGAPORE 123456)
• Licence Number (e.g. 1/2024)
• Landline Number (e.g. 6123 4567)
• Business URL (e.g. https://abc-lending.com.sg), if any

This list is crucial as it prevents loan applicants from getting caught up with any money lender scams or illegal loan providers. If a company isn’t on the list, avoid it. Even if its staff are able to show you a licence, err on the side of caution and approach another firm as this may be a counterfeit copy.

How do I check a money lender licence to ensure it’s legitimate?

Here’s how to check a money lender licence when you’re scrutinising the document:

Before you check a money lender licence, ensure it’s displayed in the company’s business premise, or that the staff are willing to let you take a look at it.
Check that the licence’s details are identical to what you see in the Ministry of Law’s list of licensed lenders. The Ministry even notes down the different business premises a lender has, and all websites which belong to them.
If you want to be doubly sure of the company before taking up a loan, contact the Credit Association of Singapore and verify that the firm is a member. Being an Association member holds them to higher ethical standards.

However, there’s also a list of over 30 exempt lenders who hold a certificate of exemption from the Moneylenders Act. Fret not, because they, too, are required to extend the validity of their certificate when it nears expiration. These are the only other firms you should be taking up a loan from.

Don’t trust any lender without a valid money lender licence

It is always good to be wary of money lender scams and illegal lenders to be on the safe side of things. Do not trust a lender that tries to explain or give excuses for why it’s not on the Ministry of Law’s list of licensed lenders!

What else should I do before committing to a loan?

Apart from checking a money lender licence from the loan company you’re interested in, obtain a loan quote across multiple firms. You aren’t obliged to commit to any quote or make a deposit to secure the rates displayed. This lets you compare between lenders and make the best decision for yourself — crucial for properly manage your finances.

While you’re at it, do some research on the lenders by looking at their money lender reviews submitted by fellow borrowers past and present. Gather feedback from friends and family, too.

The ideal loan should be fair and reasonable, and allows you to immediately resolve the financial emergency you’re facing while staying comfortably within your budget for repayment. The less you pay in interest and other fees, the better it is for your finances.

In closing

Because of how regulated Singapore’s money lending industry is, it minimises the chance for bad actors to prey on borrowers. There are clear guard rails to help folks out, including publicly posted FAQs and lists of licensed firms.

Now that you know how to check a money lender licence, you can apply for a loan with confidence if you need one to tide over an emergency situation.

Should you require a loan urgently and need a quote swiftly, look no further than Loanhere. You can receive multiple loan quotes in no time at all from our curated list of licensed lenders in Singapore — simply submit the form online. Be sure to compare and select the one that fits your needs best.

Do you still remember the good old days before Covid-19 hit our shores? It’s been more than 2 years since the world was swept up in the pandemic; many people are still struggling to manage their finances while some have had their finances negatively impacted.

What is the best way to manage your finances during a pandemic? Who can you turn to if you need financial assistance? Where can you find the best money lenders in Singapore? We’ll answer some of your burning questions and give you tips on how to better manage your finances during this trying time.

Stick to a tight budget

If your income has been affected during this time, we would strongly advise you to devise a tighter spending budget and stick to it. Take stock of your savings, income sources, and expenses. While you’re at it, try to be stricter with your spending as much as possible.

If you are new to budgeting or are creating a new budget with your family, besides manually tracking your expenses in spreadsheets, you can make use of free mobile budgeting apps (e.g. Planner Bee, Wally, Spendee, Monny) to stay on top of things on the go. These apps usually churn out monthly reports for you so to help you track your spending across various categories such as bills, food, entertainment, and transport. Scrutinise the reports, then cut back on or reallocate your funds accordingly. Having access to such data can help you set a more realistic budget.

Once you get the hang of tracking your finances, you’re likely to be more disciplined to spend within your means and be more mindful of how much goes into your savings.

Clear your credit card bills

If you have accumulated hefty credit card bills and are struggling with your cash flow, clearing your bills may be easier said than done. If possible, you should at least pay the minimum sum , and whatever you can spare (instead of waiting until you have enough cash to clear them in one go).

In more dire situations where you have trouble clearing your debts, you can connect with a licensed money lender in Singapore. A financial institution or a money lender in Singapore will be able to offer you financial relief if you meet their application criteria. For example, you may consider a debt consolidation loan from a licensed money lender in Singapore to consolidate your loans and pay through a single, lower interest account every month.

Increase or jump-start your emergency fund

Remember that saving even a small amount goes a long way. Living in a pandemic is certainly a reminder that we should always have an emergency fund to fall back on.

However, all hope is not lost if you don’t have sufficient savings and require cash for an emergency. You can consider reaching out to a licensed money lender in Singapore or other financial institutions for a quick and safe, legal loan option.

The best money lenders in Singapore

LoanHere is a platform that connects our customers to the best money lenders in Singapore. If you are looking for 12-month loan lenders in Singapore or a shorter-term loan for personal needs or business purposes, we are here to support and provide you with the necessary information that you require.

You may also apply for a personal loan such as a bridging loan, emergency medical loan, education loan, or driver’s loan from any licensed money lender in Singapore depending on your needs.

We help you narrow down your search for the best money lenders in Singapore by making it easier for you to compare your options and make an informed decision. All you need to do is fill out this application form on our website and we will reach out to you with a curated list of licensed money lenders.

About the Author

Drawing on 3 years of proven knowledge and counting, LoanHere has grown to become one of the go-to platforms for consumers’ diverse loan needs. Besides ensuring borrowers get their loan quotes promptly from the best private loan providers in Singapore, we also make an effort to craft well-founded blog articles focusing on loans, finance, and lenders.

A guarantor is someone who agrees to pay a borrower’s debt if the borrower is unable to do so. Every good legal money lender in Singapore gives its clients the option of having a guarantor if they do not qualify for a loan themselves.

If someone has asked you to act as guarantor, it is a testament to your financial standing as well as the trust that the borrower places in you. However, financial matters tend to come between friends and family. You should take such a step only after adequate consideration.

Here is what you should know before you and after you sign the contract, and after the loan has been settled.

Before signing – the precautions

A guarantor does not receive any money directly from the legal money lender or the borrower. However, they are liable for the entire loan amount, all interest, and any fees or penalties associated with the loan. If you place yourself in this lopsided equation, be aware of these four things:

1. Loan terms

Every licensed money lender in Singapore offers a range of different loans and each comes with unique terms and conditions. For example, a business loan may be linked to commercial profit. If you are co-signing such a loan, go over the business plan yourself to assess its likelihood of success. Only then should you consider becoming a guarantor.

2. Privacy issues

The document requirements for a guarantor are the same as those for a borrower. You will have to share your personal and financial information, including your credit history and current financial circumstances, with the money lender in Singapore. The borrower will also see this data during the loan assessment process.

3. Credit repercussions

When you co-sign as a guarantor, your credit score is affected in the same way as if you were the sole borrower. It reduces your ability to take on additional debt from a legal money lender until the loan has been repaid in full. This affects your chances of getting a home loan, car loan, credit card, or even an overdraft.

4. Consequences of default

If the borrower fails to make payments on time, you are responsible for all cumulative late fees, admin charges, and additional interest. Even the best money lender in Singapore will pursue you for the full amount due. This could add up to twice the original loan amount (a limit placed by Singapore law).

As we have seen, there are several serious concerns a guarantor must be familiar with. Do not allow anyone to pressure you into becoming a guarantor for them. It is your financial health on the line and the decision is solely yours to make.

Are there any advantages of being a guarantor?

Yes, but the advantages are fairly limited: There may be a positive impact on your credit score. This score takes into account how often you take on debt as well as the diversity of that debt. Acting as a guarantor widens your credit base and, especially if the loan is settled on time, tells banks and licensed money lenders in Singapore that you are a trustworthy borrower.

With a better credit score in tow, banks as well as the best money lenders in Singapore may offer larger loans, lower interest rates, and longer repayment periods. Apart from the possibility of saving money on your loans, you could even qualify for more lenient terms as well.

Throughout the loan repayment period

As a guarantor, you do not receive any money from a money lender in Singapore, but you must still keep abreast with the repayment progress. Always maintain a close relationship and communicate regularly with the borrower. Ask them to come to you before an instalment is due if they are struggling to gather the funds.

With this approach, you can foresee and circumvent missed or late payments, and the additional costs associated with defaulting. You will also prevent any damage to your credit score.

After the loan has been repaid

No one particularly enjoys being a loan guarantor because it is an additional burden that offers limited advantages. The person for whom you co-signed the loan may make every payment on time and repay the loan themselves, but it may still be best to avoid becoming a guarantor for them repeatedly.

Instead, help them gradually build their credit. If they need a loan again but you would rather not stand as guarantor, bring them in to speak to our LoanHere loan experts. We work with the best money lenders in Singapore to provide a wide range of loans that cater to your needs (e.g. personal loan, renovation loan, study loan, vacation loan, etc).

About the Author

Nikki T

Hello! I’m Nikki and I nitpick through all the boring financial data and jargon so you don’t have to!