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FAQ
HOME | FREQUENTLY ASKED QUESTIONS
About the Product
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Am I Eligible to Apply for 1133 Money Lenders Loan in Singapore?To be eligible, the loan applicant must be: Singaporean Citizen, a Permanent Resident, or a foreigner with a valid working permit. At least 21 years old. Have not declared bankruptcy or will be facing a bankruptcy proceeding in the near future. Employed with CPF contribution or can provide payslips for the last 3 months and self-employed with the income tax assessment, ACRA, NEA license (if any) or vocational license (if any).
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How Much Can I Borrow?As mandated in the Moneylenders Act, you can borrow: Up to $3,000 if you are a Singaporean or a Permanent Resident earning less than $20,000 a year. Up to 6 times your monthly income if you are a Singaporean or a Permanent Resident earning $20,000 or more a year. Up to $500 if you are a foreigner residing in Singapore earning less than $10,000. Up to $3,000 if you are a foreigner residing in Singapore earning less than $20,000. Up to 6 times your monthly income if you are a foreigner residing in Singapore earning $20,000 or more a year.
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What Are The Requirements to Apply For a Loan?For Salaried and Commission-based Employees ID Card (NRIC) Any latest bill indicating your current residential address (Proof of Billing) Latest 3-month original payslip if you have no CPF contribution Letter of employment if you are a new employee For Self Employed ID Card (NRIC) Notice of Assessment indicating trade income Accounting/Corporate Regulatory Authority (ACRA) Any latest bill indicating your current residential address (Proof of Billing) For Taxi Drivers ID Card (NRIC) Vocational license Taxi pass 7-day job summary Any latest bill indicating your current residential address (Proof of Billing)
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Do I Need a Co-Borrower?No. We do not require a co-borrower.
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What Is The Interest Rate For a Cash Loan?We charge no higher than 4% a month.
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What Are The Other Fees You Charge?As permitted in the Moneylenders Act, we charge the following: A late fee not exceeding $60 for each month An upfront administrative fee not higher than 10% of the principal loan amount. This is charged when the loan is granted. Legal costs ordered by the court for a successful claim after the recovery of the loan The total charges consisting of interests, late interest, upfront administrative and late fee will not exceed the amount of your principal loan.
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Can I Apply For a New Loan After Paying My Previous Loan?Yes, you can. In fact, if you have a good repayment behaviour and record you can get a new loan with a larger amount provided that it will not exceed the maximum amount as mandated in the Moneylenders Act.
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Can I Apply For a Higher Loan Amount?Yes. After you have fully settled your current loan without late payment records, we can offer a higher loan amount.
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Can Grab Drivers Apply For a Loan?Yes. You will need to submit your proof of billing, car rental agreement and proof of income.
Application Process
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Am I Eligible to Apply for 1133 Money Lenders Loan in Singapore?To be eligible, the loan applicant must be: Singaporean Citizen, a Permanent Resident, or a foreigner with a valid working permit. At least 21 years old. Have not declared bankruptcy or will be facing a bankruptcy proceeding in the near future. Employed with CPF contribution or can provide payslips for the last 3 months and self-employed with the income tax assessment, ACRA, NEA license (if any) or vocational license (if any).
-
How Much Can I Borrow?As mandated in the Moneylenders Act, you can borrow: Up to $3,000 if you are a Singaporean or a Permanent Resident earning less than $20,000 a year. Up to 6 times your monthly income if you are a Singaporean or a Permanent Resident earning $20,000 or more a year. Up to $500 if you are a foreigner residing in Singapore earning less than $10,000. Up to $3,000 if you are a foreigner residing in Singapore earning less than $20,000. Up to 6 times your monthly income if you are a foreigner residing in Singapore earning $20,000 or more a year.
-
What Are The Requirements to Apply For a Loan?For Salaried and Commission-based Employees ID Card (NRIC) Any latest bill indicating your current residential address (Proof of Billing) Latest 3-month original payslip if you have no CPF contribution Letter of employment if you are a new employee For Self Employed ID Card (NRIC) Notice of Assessment indicating trade income Accounting/Corporate Regulatory Authority (ACRA) Any latest bill indicating your current residential address (Proof of Billing) For Taxi Drivers ID Card (NRIC) Vocational license Taxi pass 7-day job summary Any latest bill indicating your current residential address (Proof of Billing)
-
Do I Need a Co-Borrower?No. We do not require a co-borrower.
-
What Is The Interest Rate For a Cash Loan?We charge no higher than 4% a month.
-
What Are The Other Fees You Charge?As permitted in the Moneylenders Act, we charge the following: A late fee not exceeding $60 for each month An upfront administrative fee not higher than 10% of the principal loan amount. This is charged when the loan is granted. Legal costs ordered by the court for a successful claim after the recovery of the loan The total charges consisting of interests, late interest, upfront administrative and late fee will not exceed the amount of your principal loan.
-
Can I Apply For a New Loan After Paying My Previous Loan?Yes, you can. In fact, if you have a good repayment behaviour and record you can get a new loan with a larger amount provided that it will not exceed the maximum amount as mandated in the Moneylenders Act.
-
Can I Apply For a Higher Loan Amount?Yes. After you have fully settled your current loan without late payment records, we can offer a higher loan amount.
-
Can Grab Drivers Apply For a Loan?Yes. You will need to submit your proof of billing, car rental agreement and proof of income.
Payment of Loan
-
Am I Eligible to Apply for 1133 Money Lenders Loan in Singapore?To be eligible, the loan applicant must be: Singaporean Citizen, a Permanent Resident, or a foreigner with a valid working permit. At least 21 years old. Have not declared bankruptcy or will be facing a bankruptcy proceeding in the near future. Employed with CPF contribution or can provide payslips for the last 3 months and self-employed with the income tax assessment, ACRA, NEA license (if any) or vocational license (if any).
-
How Much Can I Borrow?As mandated in the Moneylenders Act, you can borrow: Up to $3,000 if you are a Singaporean or a Permanent Resident earning less than $20,000 a year. Up to 6 times your monthly income if you are a Singaporean or a Permanent Resident earning $20,000 or more a year. Up to $500 if you are a foreigner residing in Singapore earning less than $10,000. Up to $3,000 if you are a foreigner residing in Singapore earning less than $20,000. Up to 6 times your monthly income if you are a foreigner residing in Singapore earning $20,000 or more a year.
-
What Are The Requirements to Apply For a Loan?For Salaried and Commission-based Employees ID Card (NRIC) Any latest bill indicating your current residential address (Proof of Billing) Latest 3-month original payslip if you have no CPF contribution Letter of employment if you are a new employee For Self Employed ID Card (NRIC) Notice of Assessment indicating trade income Accounting/Corporate Regulatory Authority (ACRA) Any latest bill indicating your current residential address (Proof of Billing) For Taxi Drivers ID Card (NRIC) Vocational license Taxi pass 7-day job summary Any latest bill indicating your current residential address (Proof of Billing)
-
Do I Need a Co-Borrower?No. We do not require a co-borrower.
-
What Is The Interest Rate For a Cash Loan?We charge no higher than 4% a month.
-
What Are The Other Fees You Charge?As permitted in the Moneylenders Act, we charge the following: A late fee not exceeding $60 for each month An upfront administrative fee not higher than 10% of the principal loan amount. This is charged when the loan is granted. Legal costs ordered by the court for a successful claim after the recovery of the loan The total charges consisting of interests, late interest, upfront administrative and late fee will not exceed the amount of your principal loan.
-
Can I Apply For a New Loan After Paying My Previous Loan?Yes, you can. In fact, if you have a good repayment behaviour and record you can get a new loan with a larger amount provided that it will not exceed the maximum amount as mandated in the Moneylenders Act.
-
Can I Apply For a Higher Loan Amount?Yes. After you have fully settled your current loan without late payment records, we can offer a higher loan amount.
-
Can Grab Drivers Apply For a Loan?Yes. You will need to submit your proof of billing, car rental agreement and proof of income.
3 Easy Steps
To Applying For A Loan



Call or Apply
Online
Heading down
to office
Receive Cash
on the spot
Call us at 6556-1133
or simply apply online to set an appointment at your convenience.
Come in for an appointment to create a customized plan that fits your needs and repayment ability.​
No hidden fees! Approval within 11 minutes with instant cash disbursement in our office!
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