When you need extra money to cater to your urgent needs, approaching a legal money lender in Singapore is not a bad idea. There are trusted legal money lenders in Singapore offering a wide range of personal and business loan solutions. Traditional banks may not be helpful when you need an urgent loan because of their stringent approval processes.
Although there are no true 24-hour physical moneylenders in Singapore, many legal money lenders in Singapore now offer 24/7 online loan applications, making loan services more accessible anytime you need them. However, it’s crucial to understand how to differentiate between legal and illegal money lenders to avoid falling victim to scams.
How to differentiate between legal and illegal money lenders
You should know that many illegal money lenders disguise themselves as legal ones and falsely promise guaranteed 24-hour loan approvals. A legal money lender in Singapore is regulated by the Ministry of Law and must follow strict guidelines. These include terms related to repayment periods, interest rates, payment methods, and borrower eligibility.
Key Signs of a Legal Money Lender in Singapore:
Charges a maximum of 4% interest per month on loans.
Charges a maximum of 4% late repayment fee per month.
Advertises only via official websites, business directories, or their own business premises.
In contrast, an illegal money lender may offer excessive loan amounts, charge exorbitant interest rates, and advertise through SMS or social media — all red flags under Singapore law.
How to Borrow from a Legal Money Lender in Singapore
To borrow from a legal money lender in Singapore, you will typically need to provide the following documentation:
Proof of identity (e.g., NRIC or passport)
Proof of residence (e.g., utility bill or tenancy agreement)
Proof of income (e.g., salary slips, income tax returns, or employment contract)
At Avis Credit (SG) Pte Ltd, a registered legal money lender in Singapore, we offer a broad range of loan packages tailored to your needs. Whether you’re facing a short-term emergency or need funds for business growth, we’re here to help.
Easy Online Loan Application – Anytime, Anywhere
With our secure online platform, you can conveniently apply for a loan anytime. Our digital process is designed to be fast, user-friendly, and hassle-free. Once we process your application, you can expect a swift response — usually within the same day.
So if you’re looking for a trusted legal money lender in Singapore, apply with us today to get the funds you need with peace of mind.
