Get access to a range of competitive and reliable legal loan solutions here.
Get instant approval
Get instant approval
Affordable rates as low as 2% per month*
Affordable rates as low as 2% per month*
Apply anytime
Apply anytime
Loan repayment up to 12 months*
Loan repayment up to 12 months*
*T&Cs apply
*T&Cs apply
2010
Loaned in total
borrowers
Galaxy Credit is one of the best licensed money lenders in Singapore.
Galaxy Credit is one of the best licensed money lenders in Singapore.
At our core, our loan company in Singapore aims to serve all customers with utmost honesty and respect. Our understanding and compassionate team is equipped with more than a decade of experience, and will be able to provide great service to you while supporting your search for the right legal loan in Singapore.
As an established Ang Mo Kio money lender that many trust and patronise, we are proud to offer a fast and efficient loan approval process. Additionally, we can disburse legal loans in Singapore in as quickly as 5 minutes.
Galaxy Credit is the ideal choice when you need legal money lender loans in Singapore urgently. Our doors are open to loan applications online 24/7 throughout the year. If you are faced with a crisis at any time of the day, simply apply online with Galaxy Credit, the most reliable 24-hour money lender in Ang Mo Kio, Singapore.
Note: Visit our Ang Mo Kio money lender office for identity and document verification to get your cash!
If you have good credit history, you may be able to enjoy these perks at our legal loan company*:
Possibility of interest rate reduction
Longer repayment term
Higher approved loan amount
Faster processing time
Possibility of a processing fee reduction
Instant loan approval
May qualify for payday loans at 0% interest rate
Free credit report (from Credit Bureau Singapore)
Customisable payment due date
Special opening hours arrangement
Grace period to avoid late charges
Payment due date reminders
Live repayment updates
Dedicated loan specialist
Free escort service from our Ang Mo Kio money lender office to the bank so you can deposit large sums of cash with peace of mind
Free doorstep cash collection services by our collection officers if you are unable to make a bank transfer.
*T&Cs apply
Possibility of interest rate reduction
Longer repayment term
Higher approved loan amount
Faster processing time
Possibility of a processing fee reduction
Instant loan approval
May qualify for payday loans at 0% interest rate
Free credit report (from Credit Bureau Singapore)
Customisable payment due date
Special opening hours arrangement
Grace period to avoid late charges
Payment due date reminders
Live repayment updates
Dedicated loan specialist
Free escort service from our Ang Mo Kio money lender office to the bank so you can deposit large sums of cash with peace of mind
Free doorstep cash collection services by our collection officers if you are unable to make a bank transfer.
*T&Cs apply
A licensed money lender in Singapore is a loan provider that’s authorised by the Ministry of Law’s Registry of Moneylenders to conduct the business of moneylending. All loans are legally binding and 100% legitimate.
Yes, it is safe to borrow from legal money lenders in Singapore, especially reliable, highly rated ones like Galaxy Credit.
Licensed money lenders in Singapore are regulated by the Ministry of Law and must adhere to the Moneylenders Act. A legitimate, authorised money lender can be found in the list of licensed money lenders from the official Registry of Moneylenders, complete with a unique licence number that proves its legitimacy.
In a high-cost country like Singapore, unexpected expenses—such as bills, medical fees, or emergency repairs—can lead many to seek a quick loan. While banks offer loans, they often have long processing times and strict requirements.
For fast cash that’s accessible to people from all walks of life, a reliable money lender in Singapore can be a great option despite their higher interest rates. The majority of legal money lenders provide swift loan approvals and disbursement!
Here are the benefits you can expect when you borrow from a licensed money lender:
Borrowers can make an enquiry with a reliable online money lender in Singapore via their website, visit the branch office for a short interview, and collect their loan on the same day. An in-person application at the fast money lender’s office can be completed in less than 30 minutes.
Borrowers with poor credit scores can still have their loans approved, but usually at higher interest rates. This guide on how your credit score affects your loan explains why.
If you require an extension on your loan, you can negotiate the terms and fees with your trusted money lender in Singapore.
Licensed money lenders do not have any income requirements, offering loans even to individuals with an annual income below $10,000.
I’m afraid not. Licensed money lenders offer loans up to 6 times your monthly income, no matter how much or how little you earn, or your nationality.
Licensed money lenders normally charge interest rates ranging from 1% to 4% per month. Read our guide to learn more about the different types of interest rates used by loan providers.
This might surprise you, but yes, private licensed money lenders welcome people with poor credit histories to get a loan from them when the need arises. If you’re unsure of your current credit standing, reference our guide on how to obtain your credit report for good measure.
Licensed money lenders usually offer shorter repayment terms of up to 12 months. It is common for people to take up loan tenures that range from 3 to 12 months. However, some money lenders are happy to offer repayment terms that stretch up to 24 months (subject to approval).
Singapore Citizens, Singapore PRs, and foreigners can borrow from licensed money lenders as long as they’re of legal age and have regular income. Licensed money lenders are inclusive and do not discriminate against anyone based on their credit history, nationality, race, profession or income level.
Some legal money lenders offer a whole host of special benefits for customers with good credit history, such as lower interest rates, lower fees, a grace period to avoid late charges, etc. At Galaxy Credit, repeat customers can enjoy exclusive perks as well.
Many licensed money lenders offer convenient online loan applications on their websites 24/7. These are secure, streamlined, and quick to boot! However, take note that face-to-face verification is still required before funds can be disbursed, ensuring the legitimacy of the transaction.
Even though you can conveniently apply for your loan online and get in-principle approval for it in under 30 minutes in most cases, take note that identity verification, loan contract signing and disbursement cannot be done online. You will need to meet your licensed money lender at their office to verify your identity, thoroughly review the loan contract and negotiate the terms (if necessary) before signing on the dotted line.
No, lawful money lenders do not — and cannot — disburse loans remotely. Take note that this can only be done after contract signing at their office!
To avoid loan scams, it’s crucial to verify if the lender is licensed. A licensed money lender in Singapore will have a registered licence number in the Registry of Moneylenders, a physical office, and will require a face-to-face meeting before disbursing the loan. They can only advertise on their official website, in consumer or business directories, and at their registered offices.
On the other hand, illegitimate money lenders will not have a registered licence number, may lack a physical address, and could offer loans without requiring any personal meeting. They might advertise through SMS, WhatsApp, Telegram, or unsolicited calls. Additionally, they may resort to threats, harassment, or violence for debt collection.
Differences between Banks and Licensed money lenders
Banks
Licensed money lenders
Provide loans up to 10 times monthly income
Minimum annual income requirement for Singaporeans & PRs: $20,000
Minimum annual income requirement for foreigners: $45,000
Will offer loans to borrowers with an annual income of less than $10,000
Average interest fee of 2 – 6% per annum
Interest fees can range from 1 – 4% per month
Repayment period of up to 7 years
Repayment period of up to 12 months
Requires a good credit score for loan approval
Does not require a good credit score
Allows online loan applications
Loan applications can be done online when borrowing from online licensed money lenders, but face-to-face verification in the lender’s office is still required before a loan can be disbursed
Banks are a more cost-effective option if you meet their criteria, but licensed money lenders are ideal for individuals seeking quick loans or those with a less-than-perfect credit score. If you choose to borrow from licensed money lenders, here are some ways to qualify for a low-interest personal loan for your needs.
Licensed money lenders in Singapore can charge borrowers through several legitimate means, including interest rates, late interest rates, late repayment fees, and administrative fees.
You can ensure your legal money lender isn’t overcharging you by checking the following maximum fees:
Chargeable fee
Maximum charged
Interest rate
4% per month (48% p.a.)
Late interest rate
4% a month (48% p.a.) for the amount that was not paid on time, excluding any loan amount that’s not yet due
Late repayment fee
$60 for every month of late repayment
Administrative fee
10% of the principal loan amount
In total, the sum of all charged interest and fees cannot exceed the principal loan amount.
Licensed money lenders offer both secured and unsecured loans. Secured loans are often used for vehicle and property purchases, while unsecured loans are more flexible if you are taking a personal loan – this can be used for personal reasons, including paying off credit card bills, renovation expenses, or tuition fees. Secured loans require collateral (such as a car or property) to be pledged, which can be seized by the lender if the borrower is unable to pay off their loans.
If you’re deciding between a secured and unsecured loan from a legalised money lender in Singapore, here are the differences between the two:
Secured Loan
Unsecured Loan
In general, private licensed money lenders provide different types of loans, including but not limited to personal loans, instant loans, payday loans, debt consolidation loans, wedding loans, renovation loans, etc.
Before applying for a loan, it’s important to compare licensed money lenders online based on their interest rates, loan tenures, and repayment schedules. Choose a money lender whose terms align with your financial situation and needs, so you can comfortably manage the repayment amount.
While you’re at it, consider money lender reviews from past and current borrowers as well to get a better understanding of the lender you’re intending to deal with. For more tips, check out this guide on things to know when choosing a money lender.
There are several reasons why a loan application may be rejected by legitimate money lenders in Singapore:
You need to prove a steady source of income, which can be from full-time or part-time jobs, or rental income. Without this, lenders may consider you a risky borrower.
Money lenders check your history with other lenders through the Money Lenders Credit Bureau (MLCB). A record of deferred repayments can lead to rejection.
Applying for several loans in a short period raises a red flag, as it suggests you might be struggling with repayments.
Filing for bankruptcy can impact your financial future, including the approval of any future loan.
If a previous lender took legal action against you, other lenders may avoid approving your loan due to your legal history.
No, licensed money lenders are not allowed to hard sell loans to potential borrowers.
Some money lenders are open on Sundays, whereas others are not. Galaxy Credit’s office is closed on Sundays and public holidays.
Yes, money lenders can technically pursue debts by serving a Letter of Demand to the borrower at their residential address or workplace in person. However, most money lenders will first do so via mail as it is less intrusive.
