When financial uncertainty strikes, many Singaporeans instinctively turn to banks for help. But banks aren’t always the most accessible or flexible option. Stringent credit checks, lengthy approval processes, or restrictions based on employment type or residency status can leave some borrowers in a bind. That’s where a Singapore licensed money lender can make a real difference—offering fast, regulated financial solutions without the usual bureaucracy.
In Singapore, money lending is a tightly regulated industry under the supervision of the Ministry of Law. This regulatory framework ensures that borrowers are protected from unfair practices while still having access to legitimate funding. Whether you’re in need of quick cash for emergencies, looking to consolidate debts, or seeking a short-term boost, personal loans Singapore from licensed moneylenders can offer an efficient and transparent alternative to traditional bank loans.
In this guide, we’ll introduce 10 of the most reputable and trusted licensed money lenders in Singapore—known for their professionalism, fair practices, and dependable financial support beyond the mainstream banking sector.
1. Credit 21
Location: Orchard Road
Licence No.: 75/2023
Credit 21 is consistently ranked among the best licensed money lenders in Singapore. With a prime location in Orchard and a user-friendly website, the company offers flexible personal loan packages that cater to both locals and foreigners. Its customer-first approach, high approval rates, and transparent loan terms make it a preferred choice.
What Sets It Apart:
- Fast approval (within 30 minutes)
- Customised loan plans
- Excellent Google reviews
- Multilingual staff for diverse clientele
2. Katong Credit (KCC)
Location: East Coast Road
Licence No.: 39/2023
KCC is one of the oldest and most respected money lenders in Singapore, operating since 1998. Known for its integrity and professionalism, KCC offers various loans including personal, business, and foreigner loans.
What Sets It Apart:
- Long-standing reputation for ethical lending
- Easy application with low documentation requirements
- Strong emphasis on customer confidentiality
3. 1st Credit SG
Location: Jurong East
Licence No.: 98/2023
Serving primarily the west side of Singapore, 1st Credit SG (also known as First Credit) has earned trust through transparent practices and a commitment to customer education. The company takes pride in educating borrowers on repayment structures and avoiding debt traps.
What Sets It Apart:
- Emphasis on financial literacy
- Reasonable interest rates within legal limits
- Loan comparison calculator on website
4. GS Credit
Location: Toa Payoh
Licence No.: 120/2023
GS Credit is ideal for those seeking fast cash with minimal fuss. Their streamlined online loan application makes borrowing highly accessible. In addition, their customer service team receives praise for being non-pushy and helpful.
What Sets It Apart:
- Seamless online loan application
- High approval rate for those with average credit
- Transparent breakdown of fees
5. Bugis Credit
Location: Victoria Street
Licence No.: 74/2023
Centrally located in Bugis, this money lender is a convenient go-to for many office workers and residents in the city. Bugis Credit offers payday, foreigner, and personal loans with flexible repayment periods.
What Sets It Apart:
- Convenient city centre location
- High loan approval speed
- Accommodates borrowers with fluctuating incomes
6. Lending Bee
Location: Various branches (Jurong East, Orchard, Bedok, Hougang)
Licence No.: 74/2023
With multiple outlets across the island, Lending Bee is a modern money lender with a strong digital presence. It offers diverse loan options including medical, education, and renovation loans.
What Sets It Apart:
- Mobile app for loan management
- Wide loan variety for specific needs
- Transparent digital contracts
7. Horison Credit
Location: Toa Payoh
Licence No.: 77/2023
Horison Credit is known for its ethical and customer-friendly loan services. They have a reputation for accommodating clients with fair to poor credit history while ensuring responsible lending standards are maintained.
What Sets It Apart:
- Willingness to work with low credit scores
- Focus on responsible borrowing
- Efficient in-person and online service
8. Fortune Credit
Location: Bugis Cube
Licence No.: 111/2023
Fortune Credit prides itself on offering quick solutions with a human touch. Their lending officers provide personalised consultations to help borrowers understand their financial standing and find the most suitable loan package.
What Sets It Apart:
- Personalised loan advice
- Attractive loan packages for small business owners
- Easy online loan estimate tool
9. Capital Funds Investments
Location: Balestier
Licence No.: 102/2023
Unlike many traditional lenders, Capital Funds Investments takes a boutique approach to money lending. They offer more bespoke solutions for entrepreneurs, expatriates, and working professionals.
What Sets It Apart:
- Tailor-made financial products
- Special focus on SMEs
- Easy digital contract signing
10. Cash Mart
Location: Novena
Licence No.: 57/2023
Established in 1969, Cash Mart is a seasoned lender with a strong legacy. They provide payday loans, personal loans, and foreigner loans with competitive interest rates and a hassle-free process.
What Sets It Apart:
- Over 50 years in business
- Excellent customer support
- Competitive rates for short-term loans
What to Consider Before Choosing a Money Lender
Before committing to any financial agreement, it’s crucial to do your homework. Here are several key factors to weigh before selecting a licensed money lender in Singapore:
1. Licensing Status
Only borrow from money lenders listed on the Ministry of Law’s Registry of Licensed Moneylenders. This guarantees legal protection and ethical standards.
2. Interest Rates and Fees
Under Singapore law, licensed money lenders can charge a maximum interest of 4% per month and late payment fees capped at $60 per month. Always request a full cost breakdown before agreeing to any loan.
3. Loan Terms
Repayment periods and loan amounts should align with your financial capacity. Avoid long tenures that result in higher cumulative interest unless absolutely necessary.
4. Transparency
A good money lender will clearly explain all terms and conditions. If the representative is evasive or pressures you to sign quickly, walk away.
5. Customer Reviews
Read third-party reviews on platforms like Google or MoneySmart. Look out for red flags such as hidden fees, unprofessional behaviour, or overly aggressive collection practices.
Why People Are Turning to Licensed Money Lenders
The rise in popularity of licensed money lenders in Singapore can be attributed to several practical reasons:
- Speed: Approvals and disbursements often occur on the same day.
- Flexibility: Loan amounts and repayment schedules are more adaptable than bank offerings.
- Access: Borrowers with less-than-perfect credit or non-traditional employment still stand a good chance of approval.
- Service: Many lenders offer multilingual services and operate outside standard banking hours.
Unlike illegal loan sharks (also known as “Ah Longs”), licensed lenders operate under strict regulatory oversight, which provides borrowers peace of mind and legal recourse if issues arise.
Final Thoughts
While banks remain the default choice for many, Singapore’s licensed money lenders offer a compelling alternative for those who require swift, reliable financial aid. Whether you’re facing a medical emergency, managing business cash flow, or simply need a short-term loan, these institutions can provide a safety net — without the complexity and delay of traditional banks.
Always ensure you deal only with money lenders licensed by the Ministry of Law, and take time to understand your rights as a borrower. With the right lender, you can navigate financial hardship with confidence and dignity.