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Top 8 Best Licensed Moneylenders In Singapore For Loans

Take out loans from top best licensed moneylenders in Singapore

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 unlicensed moneylenders 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 moneylenders in Singapore.

Galaxy Credit & Investments

📍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
5.0Based on 4056 reviews
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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 moneylender 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.

R2D Credit

📍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
5.0Based on 2509 reviews
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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.

Soon Seng Credit

📍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
5.0Based on 2381 reviews
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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.

UK Credit

📍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
5.0Based on 2254 reviews
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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.

96BM Credit

📍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
5.0Based on 2847 reviews
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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.

Synergy Credit

📍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
5.0Based on 2055 reviews
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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.

Cash Direct

📍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
5.0Based on 2610 reviews
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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.

GoldStar Credit


Hougang Branch

📍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
5.0Based on 3422 reviews
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Toa Payoh Branch

📍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
5.0Based on 3422 reviews
powered by Google

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.



While we try 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 shall not be relied upon as professional advice. We shall not be liable for any loss or damage resulting from the use of this website.

Related Posts

Besides banks, a moneylending company is a specific financial service provider that will lend you money based on your income and credit history. If you are looking for a loan, then moneylending companies are good options to consider.

However, it is important to note that a moneylending company will have relatively high interest rates, but it will be able to provide you with the necessary funds based on your monthly income.

As with all other personal loan applications, a licensed money lender needs to go through a processing and approval time frame but the good news is you can apply for a loan online and it’s a relatively easy process. Besides personal loans, a moneylending company in Singapore also provides business loans. But do your due diligence and ensure you are signing up only with the best licensed money lenders.

Loan amount

The loan amount you can obtain from a moneylending company will depend on your monthly income and credit history, although the latter isn’t as important compared to if you were to apply for a bank loan. A moneylending company offers various loans with different purposes to consider and they come with their respective loan amounts.

The typical loan limit can amount to six times your monthly salary. Therefore, when you apply for a loan, make sure that the loan you choose is based on your financial situation and needs.

If you would like to check your credit report, you can get a copy from the Credit Bureau Singapore. You can also read our post for more information on obtaining your credit report.

Repayment period

The repayment period will depend on the type of loan that you have applied for. Short-term loans may have repayment periods of up to three months, while long-term loans may have repayment periods of up to 12 months.

It is important to note that if you’re seeking a relatively lower interest rate, you could look for a smaller loan with a longer repayment period.

Interest Rate

The interest rate charged by a moneylending company in Singapore will depend on the type of loan that you choose. It is important to note that there are personal loans and business loans, and both types of loans will have different interest rates. Also, interest rates for short-term loans will be higher than for long-term loans. Therefore, if you would like to save as much money as possible per month, consider applying for a long-term loan. For example, the interest rate of a long-term loan can be as low as 1% per month while that for a short-term loan is usually in the range of 3-4% per month.

Finally, remember that if you would like a low-interest rate on the loan, you must ensure that you have a good credit history and high income.

Do also ensure that you know the interest rate and repayment period for each type of loan. This will help you to decide on the best loan for your needs, as well as the most suitable moneylending company to get a loan from.

With these three things in min/d, you can now decide on a moneylending company in Singapore. Galaxy Credit offers one of the best personal loans with relatively low-interest rates and specialises in payday loans, study loans to further your studies, and debt consolidation services. Speak to our loan officers today and receive a free consultation on how to better manage your finances.

With the economic impact of COVID-19, it is common for affected individuals experiencing loss of income to start seeking financial assistance such as securing personal loans with the lowest rates. If you happen to need emergency funds but do not want to borrow from friends or family, you can consider taking up a personal loan.

Here are a few questions to consider before applying for one.

What are the requirements for a personal loan?

If you are looking to secure a personal loan from banks in Singapore, you have to take note of the requirements for eligibility.

Firstly, you have to be at least 21 years old with an annual income of at least S$20,000 a year. If you are a foreigner (with an employment pass of at least 12 months validity), you will need an income range of S$40,000 to S$60,000 a year. If you make much more than $30,000 a year, banks might extend lower interest fees to you.

The requirements to borrow from a licensed moneylender is pretty straightforward. All you need is the application form (which you can fill up online), plus other supporting documents that may include:

  • Proof of the borrower’s total income for the preceding 3 months prior to loan application
  • Utilities bills
  • Pay slips; or Income tax statements

And possible supporting documents for foreigners:

  • Original valid employment pass
  • Passport
  • Appointment letters from the borrower’s employer; and
  • Bank statements

How much can you borrow according to your income bracket?

If you are choosing to secure a personal loan from a licensed money lender instead, the maximum amount that you can borrow depends on your annual income. Based on the Ministry of Law’s guide to borrowing from money lenders, for Singapore citizens and PR, If your annual income is below S$10,000, then you can only borrow up to S$3,000. If you’re a foreigner, S$500.

If your annual income is between S$10,000 to S$20,000, the maximum amount you can borrow is S$3,000 for Singapore citizens/PR and foreigners residing in Singapore.

If your annual income is over S$20,000, then you can borrow up to 6 times your monthly income for both Singapore citizens/PR and foreigners residing in Singapore.

Here’s a summary of the annual income and maximum loan amount for each income bracket:

Annual Income For Singapore Citizens and Permanent Resident Foreigners residing in Singapore
< $10,000 $3000 $500
$10,001 – $20,000 $3000
> $20,000 6 times of monthly income

Understanding personal loan interest rates

Lenders make their decisions based on factors including credit records and other existing credit facilities. To get the lowest personal loan rates, you need to build a strong credit report. Borrowers with high credit scores tend to get personal loan interest rates that are low.

When borrowing personal loans from banks in Singapore, they will typically label their interest rates as x%, which stands for a customised interest rate that you would only see once your application is approved. The interest rate is usually dependent on your credit score, loan amount, and your loan tenure. What you should be looking at is the effective interest rates or EIR as it includes processing fees and your loan repayment schedule, which is a true reflection of the cost of the loan.

When borrowing personal loans from licensed money lenders in Singapore, the money lender has to go through the terms and conditions of your loan such as repayment schedule, late fees, and interest charges before you sign the contract. A loan contract stating all the terms and conditions is required by law. The difference between signing up with licensed money lenders as opposed to banks is the quick turnaround time to get your funds, which can be as fast as an hour.

How to maintain my credit score?

An infographic explaining how personal loan interest rates work in summarised points

Maintaining a good credit score is part and parcel of getting the lowest personal loan rates. Banks and other financial institutions can offer a lower interest rate for a loan if your credit score is high. Credit scores are indicators of creditworthiness or the indication of the likelihood of a borrower paying their debt on time.

A great way to maintain it is to pay all your credit card bills and loans on time and in full. Also, refrain from applying for multiple loans at the same time from various money lenders as this will lower your overall credit score and increase your debt threshold.

Once you have a good credit score, you can leverage this as a way to get low-interest rates for your future loans. You can find out more about your credit report and rating from the Credit Bureau Singapore or Singpost branches at a $6.42 inclusive of GST.

Looking for low personal loan interest rates in Singapore? Find out more about your legal loan options with Galaxy Credit today.

Cryptocurrency is all the rage these days, with terms like crypto millionaires and NFTs (non-fungible tokens) on everyone’s lips. Since most people like quick cash, investing in crypto is something we might have considered.

In this article, we explain what exactly Crypto is, its risks and benefits, and whether you should invest in it. If you are looking to make some quick cash to either pay loans or increase your net worth, crypto could be an option.

What is Cryptocurrency?

A cryptocurrency is a form of payment that can be exchanged online for goods and services. The most famous of them is Bitcoin, which was invented in 2009 by an anonymous person. It works via blockchain technology, which transmits data and records transactions. Also, cryptocurrencies are decentralised, which means they are outside the authority of governments and banks.

Many companies, including a few Singaporean ones such as and StraitsX, issue their own cryptocurrency, also called tokens, which can be used to buy goods or services that the said company provides. There are currently more than 10,000 different cryptocurrencies being traded publicly. All cryptocurrencies also have the same value in every country and there are no exchange rates.

How can you hold Cryptocurrencies?

There are three main ways to hold cryptocurrencies. All involve having a “wallet”, which is an account that holds your crypto.


Firstly, you can hold them on exchanges such as Binance or Coinbase. On such platforms, you will be issued a “hosted wallet”, so-called because these platforms hold the wallet.

Non-custodial wallet

A “non-custodial” wallet allows you to have full control over your crypto. The downside is that if you lose your password, the wallet is gone forever.

Hardware wallet

Unlike the previous two options, a “hardware wallet” is a physical device the size of a thumb drive that stores your crypto. The upside is that you cannot be hacked since this is offline, with the downside being an inconvenience.

How do you make money out of Cryptocurrencies?

Much like stocks, the value of your portfolio increases when the price of the crypto token/s you hold rises, and vice versa. In other words, you make money when you sell the crypto tokens at a profit.

Cryptocurrency risks

As with all investments, there are risks. Crypto is known to be more volatile than stocks or gold, which is why it would be good to keep a healthy capital at bay so that you may buy more when it drops and sell when it’s at a higher price.

No sure-win crypto token

Although there are many established tokens with reputable companies behind them, the market is very competitive, with many tokens getting unlisted every few months. If you happen to hold such tokens, you lose all their value.

Vulnerability to hacks and criminal activities

For example, if your crypto is stored on an exchange, hackers can hack into your account and transfer your assets to their accounts. You may or may not be able to recover your crypto tokens — some are traceable while others are untraceable.


These tokens are often either hyped-up to offer extremely good services, such as giving you a percentage of their earnings, or entice you to invest by a tactic called “pump and dump”. “Pump and dump” happens when a token suddenly rises many times in value, attracting you to buy at an already high price. Once enough people buy at a said high price, the manipulators will “dump” the price by selling all their tokens, leaving you at a great loss. You may end up needing to pay loans that you have borrowed to buy such tokens looking for quick cash.

Cryptocurrency benefits

Many see cryptocurrencies as the currency of the future. We may end up using coins like Ethereum or Bitcoin to pay our monthly bills, or to procure certain products or services. Hence, buying these coins may be considered a long-term investment.

Get cash quickly

There is indeed such a thing as making quick cash. In May 2020, Bitcoin’s price was about USD 9,500. In May 2022, it was hovering around the USD 31,000 mark, though, in July 2022, it went down to around USD 19,000. Many coins have grown exponentially over just a few days, such as DogeCoin, which often pumps dramatically due to a tweet from billionaire and Dogecoin fan Elon Musk.

Advancing technology

The technology behind crypto, blockchain, is also why many people believe in digital currency. This technology is touted to be able to revolutionise industries from shipping to gaming. Having many believers and potential, many investors believe that cryptocurrency is not a fad and will only become more important as time goes on.

High liquidity

Some cryptocurrencies have high liquidity. This means that you can sell or buy them very quickly at market price. For example, if you need money to pay loans, you can simply liquidate your tokens for fiat, which is a term for real-world money.

Should You Invest In Crypto?

It depends if it is within your means. It is important to remember to never invest more than what you could comfortably afford to lose.

Investing in crypto can be an option to diversify your portfolio, which is always a good thing. This is especially true if you believe in the technology behind the tokens that you buy, and also that crypto usage will become more widespread as time goes by. However, do take note that the MAS discourages the general public from engaging in cryptocurrency trading as it is “highly risky”.

Bent on snagging some tokens right now but lack the funds? You might want to consider borrowing a relatively small sum from Galaxy Credit, a 24-hour money lender in Singapore, anytime, any day. As it stands, nobody said you have to invest a tonne of money into cryptocurrency for potentially big wins!


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