List of the Best Licensed Money Lenders in Singapore (2025)

In this present day and age, many are turning to loans for various reasons — whether it’s a wedding loan for the joyous occasion, a medical loan for a health emergency, or a payday loan to pay off urgent bills before payday.

While there’s always the option of trusted peers and banks, the former may strain relationships while the latter requires a stringent application process on top of a good credit score. This is where legal money lenders in Singapore serve as an alternative option for borrowers.

Many of the best money lenders in Singapore are accommodating, helpful, and committed to helping you find a suitable loan. And to aid with your search in finding a top licensed money lender, we’ve put together a couple of helpful tips to find a loan and compiled a complete list of licensed money lenders in Singapore for you to choose from.

How licensed lenders can help you

#1 Offer a loan to borrowers with low credit score

Unlike banks that require you to have a high credit score to be eligible for a loan, approved money lenders in Singapore are more lenient, only checking if a borrower has a stable, consistent source of income and their MLCB Loan Information Report. But if you have a high credit score, it could boost your chances of getting loan approval.

#2 Ensure complete transparency — no hidden charges

Besides the well-known fact that every one of the best licensed money lenders are only allowed to offer an interest rate that doesn’t exceed 4% a month, they also offer zero hidden costs — fees that don’t exceed $60 for every month of delayed repayment; administration fees that don’t go beyond 10% of the loan principal amount; and late interest rates that don’t exceed 4% a month on the overdue amount.

#3 Provide quick loan approval with fewer requirements

Banks are known for being quite strict with their loan requirements on top of their relatively long loan processing time. Money lenders are quite the opposite. All the top licensed money lenders in Singapore offer speedy loan approval so you can get the cash you need as soon as possible.

#4 Custom loan packages

Any one of the best money lenders in Singapore will offer tailored loan solutions according to your financial situation. This is to ensure that the loan you’ve applied for is within your financial capabilities to repay, while being able to fulfil your needs at the same time.

How to obtain a list of licensed money lenders in Singapore

There are a few steps to follow to get access to a complete list of licensed money lenders in Singapore. This is crucial in determining whether the lender you are considering is legally allowed to conduct the business of moneylending. Here are the steps:

1. First, you can run an online search for “licensed money lenders” and the Search Engine Results Pages (SERP) will show you a list of money lenders’ websites and addresses, as well as a map listing section for those located nearest to you.
2. Next, check the money lenders’ reviews on Google. By assessing a licensed money lender’s reviews, you’ll know what past and existing customers think about the company, as well as their previous experiences with the lender. The best money lenders’ reviews will indicate if their services are deemed efficient, professional, and friendly by fellow borrowers.
3. Last but not least, you need to know how to differentiate between illegal money lenders and those that are legal and licensed. There are a few tell-tale signs of money lenders that might be illegal:
   • They don’t have a physical address. All lenders found in the list of legal money lenders in Singapore are required by law to have a physical office to conduct in-person verifications for loans.
   • The loan process is done entirely online. This includes seeing their advertisements through SMS and WhatsApp messages. Even the best online money lenders are required by law to use proper channels such as print or online business or consumer directories, their own website, or advertisements placed within or on the exterior of their business premises. Note: authorised money lenders are not allowed to disburse loans remotely.
   • They have an unsecured website. Look for the padlock sign on the left of the URL. If it is absent, the website is likely not secured with a digital certificate. Any information you share on such websites can be leaked.
   • The loan package seems fishy. This includes the company being overly eager to grant you loans without properly checking if you can repay them, offering loans at high-interest rates, charging fees before granting the loan, and vague contract details.

List of licensed money lenders in Singapore

For ease, here is a complete list of money lenders in Singapore who are legal and approved by the Ministry of Law. However, since the private money lender list can change from time to time, you should always check the Ministry of Law’s official list for good measure.

How to search for the best money lender in Singapore

Besides the above-mentioned points on how the best licensed money lenders can help you, we’ve compiled a few other key factors that make a good money lender in Singapore for your perusal below.

Excellent customer service: Any highly recommended money lender in Singapore will always be attentive to your needs and only propose a loan that’s within your financial capability. They should also be helpful, friendly, and professional — the money lender’s reviews on Google will definitely attest to these qualities.

Accessibility and convenience: Aside from providing flexible loans and tip-top customer service, one is only called the ‘best money lender’ if they’re near your home or workplace. This will make the loan process much smoother for you.

Explore different options: Don’t just go with the first money lender you come across. Instead, compare your loan quotes to find the best deal with the most favourable terms and conditions for your needs and ask around for recommended licensed money lenders.

Consider R2D Credit for a flexible loan solution

Put simply, there is no shortage of money lenders islandwide. Companies that stand out are those like R2D Credit, which bases its service on professionalism while being understanding of your needs.

A top-rated money lender in Yishun, R2D Credit offers very competitive interest rates and a streamlined, efficient service that satisfies your need for cash in a legal and hassle-free way. Don’t hesitate to get in touch with us if you find yourself in need of a loan!

About the Author

Weetee Neu

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Weetee Neu is a writer based in Singapore. He has written for MediaCorp, SPH magazines, Tripzilla and others.