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Galaxy
- Licensed Money Lenders
- 6 min read
Curious about borrowing from a licensed lender or becoming a legitimate money lender in Singapore? You’ve come to the right place. In this article, …
Galaxy
Until recently, Singaporeans were unable to secure a loan from traditional lenders such as banks when faced with a financial dead-end. The situation was exploited by illegitimate lenders in Singapore, loan sharks known colloquially as ‘Ah Longs’.
Today, the government’s regulation of non-traditional lending has created a competitive market that offers borrowers a range of excellent legal options. We have done the legwork for you, creating this accredited list of well-known licensed money lenders in Singapore.
| 🌐Website | galaxycredit.com.sg |
| 📍Address | Blk 709 Ang Mo Kio Ave 8 #01-2595, Singapore 560709 (Ang Mo Kio Central, 4 mins walk from Amk MRT) |
| 📞Contact | 6250 8811 |
| ⏰Opening hours | Monday - Saturday 11am to 7.30pm , Closed on Sunday and Public Holidays |
| 🤝Services | Personal loan, Business loan, Bridging Loan, Debt Consolidation Loan, Wedding Loan, Payday Loan, Study Loan, Renovation Loan, Vacation Loan, Grab/Gojek Loan |
| Google Rating | Based on 5779 reviews  |
Galaxy Credit stands out for its vast array of specialised loans with affordable interest rates, which is why it easily takes the top spot. This Ang Mo Kio-based money lender caters to a wide range of clientele and fine-tunes its loan conditions to suit each applicant’s specific needs.
Galaxy Credit emphasises its commitment to a quick assessment and approval process. Borrowers will be hard-pressed to find another licensed moneylender with a faster time-to-cash period.
| 🌐Website | r2dcredit.com |
| 📍Address | Blk 846 Yishun Ring Road #01-3661, Singapore 760846 (Khatib Central, 5 mins walk from Khatib MRT, right behind basketball court) |
| 📞Contact | 6635 1596 (Contact Jacob) |
| ⏰Opening hours | Monday - Friday 11.30am to 7.30pm, Saturday 11.30am to 6pm, Closed on Sunday and Public Holidays |
| 🤝Services | Grab/Gojek Loan, Wedding Loan, Renovation Loan, Medical Loan, Bridging Loan, Study Loan |
| Google Rating | Based on 4287 reviews |
R2D Credit makes our list of top moneylenders in Singapore for its combination of high approval rates and low-interest terms. This Yishun-based moneylender also offers a range of specialty loans, such as wedding loans and debt consolidation loans.
R2D Credit’s presence in Yishun is a welcome development; the area had previously developed an unenviable reputation for high crime and loan sharking activity. Now, residents have a licensed, reliable legal option in their neighbourhood.
| 🌐Website | soonsengml.com |
| 📍Address | 1 Park Road, People’s Park Complex #01-21, Singapore 059108, (Chinatown, 5 mins walk from Chinatown MRT Exit C) |
| 📞Contact | 6226 8860 |
| ⏰Opening hours | Monday - Saturday 11am to 7.45pm, Sunday 11am to 5pm, Closed on Public Holidays |
| 🤝Services | Personal Loan, Payday Loan, Business Loan, Debt Consolidation Loan, Grab/Gojek Loan, Wedding Loan, Renovation Loan, Medical Loan, Bridging Loan, Study Loan |
| Google Rating | Based on 3647 reviews |
Located right in the heart of Singapore, Soon Seng Credit is perhaps the most easily accessible licensed moneylender in the country. They offer a variety of consumer-specific loans as well as business loans.
Soon Seng places great emphasis on transparency and trust, which are the two critical elements of the borrower-lender relationship. Few other lenders are as focused on ethical lending as this company.
| 🌐Website | ukcredit.sg |
| 📍Address | Blk 210 New Upper Changi Road #01-723, Singapore 460210 (Bedok North Central, 5 mins walk from Bedok MRT Station) |
| 📞Contact | 6448 7448 |
| ⏰Opening hours | Monday - Saturday 11.30am to 7.45pm, Sunday 11.30am to 5.45pm, Closed on Public Holidays |
| 🤝Services | Personal Loan, Payday Loan, Business Loan, Debt Consolidation Loan, Grab/Gojek Loan, Wedding Loan, Renovation Loan, Medical Loan, Bridging Loan, Study Loan |
| Google Rating | Based on 3537 reviews |
With affordable rates and serving the Bedok population, UK Credit takes pride in their stellar customer service. They are also lenient towards less-than-optimal credit scores, which is good news for borrowers who have been unsuccessful in obtaining loans from other financial institutions.
| 🌐Website | cashloansingapore.com.sg |
| 📍Address | Blk 302 Ubi Ave 1 #01-31, Singapore 400302 (2 mins walk from Ubi MRT Exit A) |
| 📞Contact | 6292 2629 (Contact Clara or Sim) |
| ⏰Opening hours | Mon-Sat 11:30am – 7:30pm, Closed on Sundays & Public Holidays |
| 🤝Services | Personal Loan, Wedding Loan, Payday Loan, Renovation Loan, Business Loan, Medical Loan, Debt Consolidation Loan, Bridging Loan, Grab/Gojek Loan, Study Loan |
| Google Rating | Based on 4333 reviews |
If the number of borrowers served are any gauge of a company’s reliability and capability, the 3145 customers 96BM Credit has served as of time of writing reasily puts this legal moneylender in the Top 8.
96BM boasts one of the highest approval rates in the industry, which is no surprise considering that they do not assess your credit score. If you have had credit issues in the past, speak to this licensed moneylender.
| 🌐Website | syncredit.com |
| 📍Address | Blk 447 Clementi Avenue 3 #01-201, Singapore 120447 (Clementi Central, 5mins walk from Clementi MRT) |
| 📞Contact | 6250 0066 |
| ⏰Opening hours | Mon-Sat 11:30am – 8:00pm, Sun 11:30am – 5:00pm, Closed on Public Holidays |
| 🤝Services | Debt Consolidation Loan, Grab/Gojek/Food Delivery Loan, Medical Loan, Renovation Loan, Study Loan, Wedding Loan, Business Loan |
| Google Rating | Based on 2763 reviews |
Synergy Credit maintains the highest standards of integrity and ethical lending by all applicable laws. They believe in fair practice that does not discriminate against anyone’s credit record, which is why they can establish long-term relationships with many customers.
| 🌐Website | cashdirect.sg |
| 📍Address | 2 Venture Drive, Vision Exchange #01-21, Singapore 608526 (Jurong East Central, 5 mins walk from Jurong East MRT Station Exit B) |
| 📞Contact | 6493 0088 |
| ⏰Opening hours | Mon-Sat 11:00am – 7:45pm, Sun 12:00pm – 5:00pm, Closed on Public Holidays |
| 🤝Services | Business Loan, Payday Loan, Debt Consolidation Loan, Grab/Gojek/Taxi Loan, Wedding Loan, Renovation Loan, Medical Loan, Bridging Loan, Study Loan |
| Google Rating | Based on 4326 reviews |
Established in 2010, Cash Direct has loaned over $49 million to borrowers to date. With interest rates from 2% per month, it’s not hard to see why borrowers approach them over other licensed moneylenders in Singapore.
Cash Direct strives to personalise each loan and its terms to suit every borrower. Speak to them about their custom payment schedules for your convenience.
| Branch |
Hougang Branch |
| 🌐Website | goldstarcredit.co |
| 📍Address | 1187 Upper Serangoon Road, The Midtown #01-21, Singapore 533971 (Hougang Central, 5 mins walk from Hougang MRT Station) |
| 📞Contact | 6384 0088 |
| ⏰Opening hours | Monday - Saturday 11.30am to 8pm, Sunday 10am to 5pm, Closed on Public Holidays |
| 🤝Services | SME Working Capital Loan, Payday Loan, Debt Consolidation Loan, Grab/Gojek/Taxi Loan, Wedding Loan, Renovation Loan, Medical Loan, Freelancer Loan, Personal Loan |
| Google Rating | Based on 4564 reviews |
| Branch |
Toa Payoh Branch |
| 🌐Website | goldstarcredit.co |
| 📍Address | Blk 190 Lorong 6 Toa Payoh #01-576, Singapore 310190 (Toa Payoh Central, 5 min walk from Toa Payoh MRT Station, Beside KFC, 7-11 and Guardian) |
| 📞Contact | 6252 0088 |
| ⏰Opening hours | Mon-Sat 11:00am – 7:45pm Sun 10:00am – 5:00pm, Closed on Public Holidays |
| 🤝Services | SME Working Capital Loan, Payday Loan, Debt Consolidation Loan, Grab/Gojek/Taxi Loan, Wedding Loan, Renovation Loan, Medical Loan, Freelancer Loan, Personal Loan |
| Google Rating | Based on 3695 reviews |
Rounding off our list of moneylenders in Singapore is Goldstar Credit. This company is one of the few licensed moneylenders in Singapore that is large enough to maintain two branches.
The first is located in The Midtown at Upper Serangoon Road in Hougang Central. Hougang is a mature estate and the town with the biggest population in the North Eastern region of Singapore. The second is at Toa Payoh Central, a short walk from Toa Payoh MRT Station. The Toa Payoh region is home to several housing estates and many small to medium enterprises (SMEs).
While we have ranked these moneylenders in Singapore, the best option for your specific circumstances may vary. Galaxy Credit is the leading licensed money lender in the Ang Mo Kio region. No matter where you are, contact us and allow our loan officers to help address your financial needs.
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, a reliable money lender in Singapore can be a better option.
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 license number that proves its legitimacy.
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, 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
Provide loans up to 6 times monthly income
Will offer loans to borrowers with an annual income of less than $10,000
Average interest fee of 3.5 – 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 generally offer loans up to 10 times your monthly income, with interest rates ranging from 3.5% to 6% per annum. They also provide up to 7 years repayment periods. However, banks have more stringent approval criteria. They typically require a good credit score and higher annual income levels: $20,000 for Singaporeans and PRs, and $45,000 for foreigners. For those with solid credit and a stable income, banks can be a more affordable option.
Licensed money lenders offer a different solution, providing loans up to 6 times your monthly income, with interest rates ranging from 1% to 4% per month. They have lower income requirements, offering loans even to individuals with an annual income below $10,000. Licensed money lenders also offer shorter repayment terms (up to 12 months) and welcome applicants with poor credit histories. Though their interest rates are higher, they provide faster loan disbursement, with many offering online loan applications. However, face-to-face verification is still required before funds are disbursed, ensuring the legitimacy of the transaction.
In summary, 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.
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.
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 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
To apply for a loan with a licensed money lender in Singapore, here are the required documents:
Before applying for a loan, it’s important to compare licensed money lenders online based on 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.
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 may struggle to manage 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.
With over 5,424 5-star Google reviews and counting since our inception in 2010, Galaxy Credit is more than well-equipped to share our insights on all aspects of loans, both through the content we publish and in conversations with borrowers.
Disclaimer
While we strive to provide the most accurate information on this website, it may not reflect the most current developments. The information on this website may be changed without notice and is not guaranteed to be complete, correct, or up-to-date. All information provided is for informational purposes only and should not be relied upon as professional advice. We shall not be liable for any loss or damage resulting from the use of this website.
Galaxy
Galaxy
Galaxy
Galaxy Credit & Investments Pte Ltd leverage on the expertise to offer a set of realistic loan solutions that help you alleviate your financial liabilities whether it is personal or business.
License Number 154/2024
Opening Hours
Monday – Saturday 11am to 7.30pm
Closed on Sunday and Public Holidays
Copyright © 2025 | Galaxy Credit & Investments Pte Ltd | Singapore Licensed Moneylender | Privacy Policy
Copyright © 2025 | Galaxy Credit & Investments Pte Ltd | Singapore Licensed Moneylender | Privacy Policy
