A licensed moneylender is a company that holds a valid licence from Singapore's Ministry of Law (MinLaw) under the Moneylenders Act. They're regulated, audited, and bound by strict rules on what they can charge and how they can operate. As of 2026, there are approximately 150 licensed moneylenders in Singapore — each one listed on MinLaw's public registry.

Unlicensed lenders — commonly called loan sharks or "Ah Long" — operate illegally. They're not bound by any rules. Borrowing from them often leads to harassment, threats, and spiralling debt.

If you're searching for a legal money lender in Singapore or trying to tell a licensed operator from an illegal one, start here.

Here's the distinction in practical terms:

Licensed moneylenders must:

• Display their licence number on their premises and website

• Provide a written contract before disbursing any loan

• Cap interest at 4% per month (reducing balance) regardless of income or loan type

• Limit late fees to $60 per month

• Never harass, threaten, or intimidate borrowers

• Maintain a physical office (no lending from residential addresses)

Unlicensed lenders typically:

• Advertise via SMS, WhatsApp, or flyers with no company name

• Operate from private residences or have no office at all

• Charge uncapped interest, often compounding daily

• Use harassment, vandalism, or threats when payments are late

• Provide no written contract

You don't have to take anyone's word for it. MinLaw publishes a public registry of all licensed moneylenders.

Steps to verify:

1. Go to the Registry of Moneylenders on MinLaw's website (rom.mlaw.gov.sg)

2. Search by company name or browse the full list

3. Check that the licence number matches what the company displays

4. Confirm the registered address matches their actual office

If a lender isn't on the registry, they're not licensed. Walk away.

You can also check whether a moneylender has faced disciplinary action or had complaints by reviewing MinLaw's public notices.

Under the Moneylenders Rules, charges are capped:

Interest rate: 4% per month (reducing balance)

Late interest: 4% per month on overdue amount

Late fee: $60 per month

Administrative fee: Up to 10% of loan principal (one-time)

Total cost cap: Borrower never pays more than the principal in combined fees/interest

That last point is worth repeating: even if payments are late for months, the total amount you owe (interest + fees combined) can never exceed your original loan amount. This is a legal protection that only applies with licensed moneylenders.

The Moneylenders Rules set maximum borrowing limits based on your residency status and annual income. These are legal caps — individual lenders may offer less based on their own affordability assessment.

SC/PR earning ≥$20,000/year: Up to 6× monthly income

SC/PR earning <$20,000/year: Up to $3,000

Foreigner (EP) earning ≥$10,000/year: Up to 6× monthly income

Foreigner (other work pass): Up to $500

These are the legal maximums under the Moneylenders Rules. EZ Loan's loans start from $2,000, subject to approval and affordability assessment.

Being licensed is the baseline — not the finish line. Among licensed moneylenders, quality varies. Here's what separates the good ones:

Transparency about costs

Before you sign anything, you should see a full breakdown of interest, fees, repayment schedule, and total cost. If a lender is vague or rushes you to sign, that's a red flag even if they're licensed.

Genuine reviews from borrowers

Google reviews give you a window into how a moneylender actually treats its customers. Look for volume (a few reviews can be faked; hundreds are harder to manufacture) and specifics in the feedback.

Convenient access

Consider location, operating hours, and whether they offer online applications. If you're working full-time, a money lender in Singapore with extended hours or a 24/7 online application saves you from taking time off work. Use our loan calculator to estimate your repayments before applying.

Clear communication

A good moneylender answers questions before you borrow, not just after. They explain terms in plain language. They don't pressure you to borrow more than you need.

EZ Loan holds Moneylender Licence No. 19/2026 issued by Singapore's Ministry of Law. We've operated continuously since 2009 as a trusted money lender in Singapore from two branches:

• Beach Road — 3 Beach Road, #01-4853 (Mon–Sat, 11 AM – 7 PM)

• Marina Square — 6 Raffles Blvd, #03-308, JustCo (Mon–Sat, 11 AM – 7 PM)

With over 1,400 Google reviews at a 5.0-star rating, our track record is public and verifiable. We offer a range of loan types — personal loans, foreigner loans, payday loans, renovation loans, debt consolidation, and business loans — with loans starting from $2,000 (subject to approval) and an online application that you can submit any time.

How do I check if a moneylender is licensed in Singapore?

Visit the Registry of Moneylenders at rom.mlaw.gov.sg. Search for the company name and verify that their licence number and registered address match what they display. If they're not on the registry, they're not licensed.

What is the maximum interest rate a licensed moneylender can charge?

Under the Moneylenders Rules, the maximum interest rate is 4% per month calculated on a reducing balance. This applies to all borrowers regardless of income level or loan type.

Can a licensed moneylender harass me for repayment?

No. Licensed moneylenders are prohibited from using threats, harassment, or intimidation. If you experience this, you can file a complaint with MinLaw or the police. Harassment tactics are the hallmark of unlicensed lenders.

What's the difference between a licensed moneylender and a bank personal loan?

Banks typically offer lower interest rates but have stricter eligibility requirements (minimum income, credit score). Licensed moneylenders are more accessible — they serve borrowers who may not qualify for bank loans — but charge higher interest within the legal cap of 4% per month.

Is EZ Loan a licensed moneylender?

Yes. EZ Loan holds Licence No. 19/2026 from the Ministry of Law. You can verify this on the MinLaw registry or visit either of our two branches at Beach Road or Marina Square.

What happens if I can't repay my moneylender loan on time?

A licensed moneylender can charge a late fee of up to $60 per month and late interest of up to 4% per month on the overdue amount. However, the total fees and interest can never exceed your original principal. If you're struggling, contact your moneylender early — most will discuss restructuring options.

Can foreigners borrow from licensed moneylenders in Singapore?

Yes, foreigners holding valid work passes (Employment Pass, S Pass, Work Permit) can borrow from licensed moneylenders. Requirements and loan amounts may differ from those for Singapore citizens and PRs.