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Small Cash LoansIf you're considering a loan from a moneylender in Singapore, the first question should always be: are they licensed? The difference between a licensed moneylender and an unlicensed one isn't just legal — it determines whether you're protected by law or exposed to harassment and extortion. This guide explains how moneylender licensing works in Singapore, how to verify any lender's licence yourself, and what the rules say about fees and interest. Whether you're searching for a legal money lender in Singapore or trying to tell a licensed operator from an illegal one, start here.
How much do you want to borrow?
$1,000
$1,000
$100,000
Term (months)
6 months
1 mths
36 mths
Updated 6 July 2026
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. How to Verify a Moneylender's Licence 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. What Licensed Moneylenders Can Legally Charge Under the Moneylenders Rules, charges are capped. The maximum interest rate is 4% per month, calculated on a reducing balance. Late interest is also capped at 4% per month on the overdue amount. The maximum late fee is $60 per month. An administrative fee of up to 10% of the loan principal may be charged as a one-time cost. Perhaps most importantly, the total cost cap means a borrower never pays more than the principal in combined fees and 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. How Much Can You Borrow from a Licensed Moneylender? 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. Singapore Citizens or PRs earning $20,000 or more per year can borrow up to 6 times their monthly income. Singapore Citizens or PRs earning less than $20,000 per year can borrow up to $3,000. Foreigners holding an Employment Pass earning $10,000 or more per year can borrow up to 6 times their monthly income. Foreigners on other work passes can borrow up to $500. These limits apply per moneylender. Borrowing from multiple lenders doesn't increase your total cap — each lender must check your aggregate outstanding loans. The limits above are the legal maximums under the Moneylenders Rules as at the time of writing. Verify the latest figures on MinLaw's website, as caps have been revised in the past. EZ Loan's loans start from $2,000, subject to approval and affordability assessment. What to Look for When Choosing a Licensed Moneylender 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 — A Licensed Moneylender Since 2009 EZ Loan holds Moneylender Licence No. 19/2026 issued by Singapore's Ministry of Law. We've operated continuously since 2009 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.
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Find out how much your repayments and interest rate could be with our calculator.
How much do you want to borrow?
$1,000
$1,000
$100,000
Term (months)
6 months
1 mths
36 mths
Interest % (Monthly)
Total Payment
Monthly Installment
Total Interest
LAST UPDATE
06 Jul 2026
Application Submitted in last 30 days
5828
Processing Time average
13 minutes
Understanding the difference between a licensed moneylender and an unlicensed one is critical for your financial safety. Here is what each looks like in practice. Licensed moneylenders must display their licence number on their premises and website. They are required to provide a written contract before disbursing any loan. Interest is capped at 4% per month on a reducing balance — this applies to every borrower regardless of income or loan type. Late fees are limited to $60 per month. Licensed moneylenders are prohibited from using harassment, threats, or intimidation of any kind. They must operate from a registered physical office — no lending from residential addresses. Unlicensed lenders — often called loan sharks or "Ah Long" — operate very differently. They typically advertise via SMS, WhatsApp messages, or flyers with no company name attached. Many operate from private residences or have no physical office at all. They charge uncapped interest rates, often compounding daily, which can cause a small loan to balloon into an unmanageable debt within weeks. When payments are late, unlicensed lenders commonly resort to harassment, vandalism, or threats against borrowers and their families. They provide no written contract, leaving borrowers with no legal recourse. The simplest way to protect yourself: check the Registry of Moneylenders at rom.mlaw.gov.sg before dealing with any lender. If a company isn't listed there, they're not licensed — walk away, no matter how attractive their offer sounds or how urgent your need is. You can also report suspected unlicensed moneylending to the police.
Up to 4% per month on reducing balance
Under the Moneylenders Rules, the maximum interest rate is 4% per month calculated on a reducing balance. This cap applies to all borrowers regardless of income level or loan type.
$60 per month maximum
Late interest of up to 4% per month can be charged on the overdue amount. In addition, a late fee of up to $60 per month applies. These charges are strictly regulated under the Moneylenders Rules.
Up to 10% of loan principal
A one-time administrative fee of up to 10% of the loan principal may be charged. This is deducted from the loan amount at disbursement. No other upfront fees are permitted by licensed moneylenders.
Never exceeds the principal amount
Even if payments are late for months, the total amount you owe in combined interest and fees can never exceed your original loan amount. This is a legal protection that only applies with licensed moneylenders.
Loan Approval
Required
Disbursed on the spot
by Registry of Moneylender
You can start your application online, visit one of our offices, or connect with us via WhatsApp—whichever is most convenient for you.
Visit one of our branches for a free consultation, present the necessary documents, and finalise the loan agreement.
Once your loan is approved, you can receive your cash in 30 minutes
The minimum requirements for applying for a loan depend primarily on your citizenship, income level and age. We welcome Singaporeans/PRs and foreigners.
Besides banks, licensed money lenders are a great and legal alternative
to secure your loan in Singapore.
As a licensed money lender under the Registry of Moneylenders, we comply fully with the Moneylenders Act. This means you can trust that your funds come from a secure and reputable source.
Before offering a loan, we take the time to understand your unique financial situation. Our experienced team will clearly explain the terms and conditions of your loan, ensuring everything is straightforward. We're always here to answer any questions or concerns you may have.
Our service goes beyond simply lending money. With personalised loan plans and fast approval, you can rely on us to provide financial support when needed. We prioritise clear communication to ensure peace of mind at every step.
Your privacy and security are our top priorities. Our team adheres to strict data protection protocols, keeping your personal information, loan details, and documents confidential. We are dedicated to delivering excellent customer service throughout your loan process.
Dec 13, 2025
Apr 13, 2026
May 15, 2026
Jun 15, 2026
May 14, 2026
Singaporeans or PRs need to present the following:
NRIC SingPass Payslips for the last three months, if availableForeigners need to present the following:
Employment Pass/ S Pass / Work Permit with a minimum 6-month validity Passport Payslips for the last three months, if available Employment Contract
In today’s fast-paced world, managing finances can sometimes feel like navigating through a dense fog. Whether it’s an unexpected medical bill, a sudden need for car repairs, or the desire to consolidate high-interest debt, personal loans can serve as a beacon of hope. However, the decision to take out a personal loan shouldn’t be made lightly. Here’s a comprehensive guide to help you understand when it might be beneficial to consider a personal loan.
Sudden and unforeseeable situations can arise without warning, possibly out of our control too. Such situations can sometimes impair our ability to make sound judgment and decisions calmly and logically. Taking up a loan may be mandatory but because we are sometimes overtaken by our emotions, we may end up borrowing from an unlicensed moneylender. Hence, EZ Loan Pte Ltd is here to provide help and assistance for your needs. As such, EZ Loan Pte Ltd has come up with a guide that will help you in your judgment in determining whether the moneylender you are keen in, is a licensed or unlicensed moneylender, so that you can borrow legally and worry free with us.
Wondering how much does it cost for a personal loan from a legal moneylender? This article will answer your questions. For all licensed moneylenders in Singapore, the loan amounts and charges are drafted and calculated by adhering strictly to the rates and charges which are allowed, and stated by the Ministry of Law.
Planning your dream wedding can be both an exciting and stressful affair. Between choosing the perfect venue, and finding that show-stopping dress, wedding costs can quickly snowball. But that shouldn’t affect your happily ever after! The solution? Short-term personal loans! In this comprehensive guide, our loan experts at EZLoan explore how you can apply for a wedding loan in Singapore – a helpful financial tool that can bridge the gap between your dream wedding and reality.
At EZ Loan, we understand the unique challenges and opportunities that entrepreneurs and small business owners face in Singapore. Securing a business loan is a critical step for many businesses looking to scale, innovate, or simply manage cash flow more effectively. We’re here to guide you through this process, making it as straightforward and beneficial as possible.
Beach Road
