Times have changed and Singapore has become a 24-hour economy. Unlike in the past, most businesses run 24/7 meaning they remain open throughout including weekends and even at night. The lending industry has also not been left behind. Most money lenders open on Sunday which wasn’t the case in the past. This has increased the operating time making funds available to borrowers throughout the week.

When faced with an emergency that requires quick financing, legal money lenders are the fastest option that you can explore. Unlike banks, they are accessible even on Sundays. So any time be it night or weekend, legal money lenders are available for you.

Legal money lenders operate online platforms which make their services readily available at the comfort of your house. However, there is a risk when you rely solely on the online platform because there are loan sharks who you can confuse with legal money lenders.

How to Differentiate Between Legal and Illegal Money Lenders

Physical Address

Legal money lenders will always have a physical office. This is a requirement by the ministry of law. This is the place where you drop your physical documents for your loan processing

Illegal money lenders will always want to work online. In most cases, they operate a briefcase office. Avoid such lenders at all cost.


Legal money lenders will only advertise through their website, their business or consumer directories or place adverts outside their business premises.

Illegal money lenders will always try to lure customers through texts and phone calls which is against the rules set by the Ministry of Law.

Loan Contract

A legal money lender will always give you a contract detailing the amount applied for, interest rate, loan repayment period and any other fee for you to sign.

Illegal money lenders will rush you through the process and in most cases, they offer blank papers for signing instead of a contract.

Interest Rates

Legal money lenders offer reasonable interest rates and do not have any hidden charges

Illegal money lenders offer unrealistic interest rates and most of the time they have hidden charges that they do not communicate to the customer.

How to Borrow From a Legal Money Lender

To access a loan from a legal moneylender, you need to provide the following documents

Proof of Identity – Identity card for citizens and passport or work permit for the foreigners

Proof of Residence – Residential address such as utility bills under your name.

Proof of Income/employment – Payslip or Bank Statement or 12 months Provident Fund Contribution Statement or the latest Income Tax Assessment Notice to show proof of income and ability to pay

Once you provide the documents mentioned above, you are issued with a loan application form where you fill in personal details plus the amount you intend to borrow.

Upon submission of the loan application form and the necessary documents, the lender prepares a loan agreement also referred to as the loan contract, which you are expected to consent to.

The application is subjected to an assessment and if everything is ok, the loan is approved and disbursed to your account.

If you are looking for a money lender open on Sunday or one that operates 24/7 look no further as Avis Credit has got you covered. Follow this link and talk to our professionals.

Why Choose Us

We are licensed

We offer personalized loans

Our loan approval rates are high

We offer competitive interest rates

We have a simple loan application process