Legal Moneylender

Looking for a Legal Moneylender in Singapore?

Look no further! We are the solution to your troubles. Quick Credit Pte Ltd has been a legal moneylender in Singapore since 2002. We have served thousands of satisfied clients.

Here’s what’s important to know and what you should always confirm as a borrower:

🔹 1. Verify the Lender’s Legitimacy

The first and most important step is to ensure that the money lender is licensed by the Ministry of Law (MinLaw).

  • You can check the official list of licensed money lenders on the Registry of Moneylenders website.
  • Avoid lenders who are not listed — these are unlicensed or illegal lenders (Ah Longs) who often charge excessive interest and use harassment tactics.

🔹 2. Confirm Their Business Practices

A legal money lender in Singapore must:

  • Conduct all transactions in person at their registered business address.
  • Provide a written loan contract detailing the loan amount, interest rate, fees, and repayment schedule.
  • Explain all terms clearly before you sign.
  • Issue receipts for every payment you make.
  • Not retain your NRIC, ATM card, or personal documents.

If a lender pressures you to sign quickly, asks for your SingPass login, or communicates only through messaging apps, that’s a red flag.

🔹 3. Understand the Legal Limits

Borrowers should know the legal caps on:

  • Interest rate: Maximum of 4% per month.
  • Late interest: Up to 4% per month on overdue amounts.
  • Administrative fee: Up to 10% of the principal loan amount.
  • Late payment fee: Up to $60 per month.

🔹 4. Key Questions to Ask Before Borrowing

  1. Are you listed as a licensed money lender under MinLaw?
  2. Can I see your business license and registered address?
  3. What are the total interest rates and all possible fees?
  4. Will I receive a written loan contract?
  5. How will repayments be made and documented?

Are legal moneylenders the same as banks?

No, legal money lenders are not the same as banks. While both can provide loans, banks offer a wider range of financial services and are typically subject to more stringent regulatory requirements. Legal money lenders often specialize in short-term and high-risk loans.

All of our clients know us as the best moneylender in Singapore. Why is this so? Because we take the time to understand all our clients. We listen to what you have to say, we care about your well being. We are not here just to provide you a loan, we provide you a listening ear as well. It is not easy to survive in Singapore, especially with all the rising costs.

Thus we are here to help you. If you are in sudden need of cash for any reason at all, know that Quick Credit is here to solve your problems. We will be able to provide with the money within 1 hour or less. Have a look at the numerous amount of reviews we have received online. Those are a strong indication of how reliable we are.

Call us today at +65 6899 6188 or walk in to our office. We are located at Blk 353 Jurong East St 31, #01-115, Singapore 600353. Our loan consultants will be more than happy to assist you.