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A payday loan is a short-term personal loan, usually between $500 and $3,000, that you repay on your next payday. In Singapore, payday loans are offered by licensed moneylenders regulated by the Ministry of Law under the Moneylenders Act. They're designed for people who need cash quickly and can repay within a few weeks. This guide covers how payday loans work in Singapore, what they're legally allowed to cost, who qualifies, the risks to watch for, and what alternatives exist. Whether you're considering a payday loan for the first time or comparing lenders, you'll find the specifics here. Last updated: July 2026
A payday loan is a short-term personal loan, usually between $500 and $3,000, that you repay on your next payday. In Singapore, payday loans are offered by licensed moneylenders regulated by the Ministry of Law under the Moneylenders Act. They're designed for people who need cash quickly and can repay within a few weeks. This guide covers how payday loans work in Singapore, what they're legally allowed to cost, who qualifies, the risks to watch for, and what alternatives exist. Whether you're considering a payday loan for the first time or comparing lenders, you'll find the specifics here. Last updated: July 2026
How much do you want to borrow?
$1,000
$1,000
$100,000
Term (months)
6 months
1 mths
36 mths
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by EZ Loan Pte Ltd
Updated 10 November 2026
A payday loan is a short-term, unsecured loan intended to help individuals meet immediate expenses before their next paycheck. It provides fast access to funds without requiring collateral based on the borrower’s financial profile and income level. Unlike traditional loans, payday loans are generally repaid in a single instalment on the borrower’s next payday, making them suitable for managing unforeseen costs without long-term obligations.
The main benefit of payday loans is their speed and convenience. Borrowers can use them for almost any purpose, from emergency repairs to medical bills, and with licensed moneylenders like EZ Loan, approval and disbursement are streamlined to meet urgent needs. This makes payday loans practical for those seeking flexible, rapid financial support with minimal waiting 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 rate
From 0.82% a month
Estimate at our advertised rate. Your actual rate depends on assessment.
Total Payment
LAST UPDATE
10 Nov 2026
Application Submitted
in last 30 days
7291
Processing Time
average
17 minutes
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. Every loan comes with clear terms, explained in writing before you sign, and a team that walks you through each 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.
In Singapore, payday loans can be obtained from licensed moneylenders. This option offers a legal, fast alternative to traditional banks. With complete documents, processing at EZ Loan can take under 10 minutes, so you can meet needs from emergency expenses to school fees quickly. EZ Loan’s payday loans are versatile, covering everything from daily needs to repairs. Repayments are made in a single instalment on your next payday, with payment options like bank transfer, PayNow, or in-store cash payments. Our experienced team ensures a supportive, secure experience every step of the way.
Payday loans in Singapore help people cover an unexpected bill until their next payday. EZ Loan offers one of the most efficient payday loan services in Singapore: apply online, then complete your application at our branch in under 10 minutes with complete documents.
Through a simplified application process with minimal documentation, you can have the funds you need in no time. Our clear terms mean you know where you stand with your repayments, and our friendly team will help you every step. Whether it be medical bills, utility payments, or whatever unexpected financial need may arise, EZLoan is your dependable partner for reliable cash solutions in Singapore.
When time matters, EZ Loan is one of the quickest options in Singapore. Complete applications can be processed in under 10 minutes, and approved loans are disbursed the same day to eligible borrowers.
Through transparent policies, get our services which are free of stress, along with a repayments mode to suit you, whether in a case of an emergency or during a gap right before the salary date—EZ Loan delivers speedy work and absolute reliability on you.
Short-term loans are a convenient way to manage financial gaps, and EZLoan makes it easy and accessible for eligible borrowers in Singapore. Made for fast approval and flexibility in use, our short-term loans can be used for various needs such as urgent bills, unexpected repairs, or temporary shortages of cash.
Our customer-centric approach ensures a smooth experience with clear eligibility criteria and a transparent loan structure. With EZLoan, you get all the benefits of fast service, secure transactions, and expert financial guidance. Be it individual or small businesses, our short-term loans help meet short-term financial needs with the perfect solution.
Application processing/completion
Verification required
Decision or disbursement
Ministry of Law · 19/2026
Application processing/completion can be under 10 minutes for eligible applications with complete documents. Some completed applications may receive a same-day lending decision, and some approved loans may be disbursed on the same day, subject to assessment, document verification, face-to-face identity verification and signing.
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.
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
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.
Some approved loans may be disbursed on the same day. Timing depends on assessment, document verification and the required face-to-face identity verification.
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Compare an early-settlement figure with your remaining personal-loan payments, understand interest and fees, and prepare the right questions for EZ Loan.
Compare five lenders' published starting rates using the same S$5,000, 12-month example. See monthly payments, fees and what to check in your offer.
Bank personal loan rejected? Check possible reasons, credit records and repayment costs before applying again. Explore personal loan options with EZ Loan.
Compare EZ Loan's rates from 0.82% per month for eligible applicants with Best Licensed Moneylender and three others. Check fees and written terms.
Compare monthly instalments and total repayment on equivalent written offers from EZ Loan and 12 Lend.
Speed up your application with MyInfo
Have your personal details filled in automatically. This also helps us to approve your loan more quickly!
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