Up to 6x of your monthly income.
Interest rates from as low as 3% per month.
A one-time administrative fee from as low as 2.5% on your approved loan amount.
In order for us to assess your loan application, we will only need you to bring along these documents:
- Latest 3 months pay slip
Before engaging a moneylender, do verify that the moneylender is licensed by checking the list here. Do not borrow from unlicensed moneylenders.
- Do ensure that the correct principal amount of the loan is delivered to you. Any licensed moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
- Set reminders on your phone or calendar to make payments of the loan instalments on time to avoid incurring late payment fees and late interest.
- Once the dated and signed receipt is issued to you every time you repay your loan, do check the receipt for accurate information, e.g. name, amount, date is correct.
- Always keep us updated on your latest address and email address and make sure you receive a statement of account for all your loan(s) at least once every 6 months, and check it for correctness (e.g. name, amount, date).
- You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.
- You can contact the Registry of Moneylenders at 1800-2255-529 or via the website. The Registry will not disclose your details to the moneylender without your consent. To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide us with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender. The Registry views complaints against moneylenders seriously and will investigate them thoroughly. Errant moneylenders will be taken to task.
- If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act. The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.