A licensed money lender in Singapore is a company that has been officially approved and issued a valid licence by the Ministry of Law’s Registry of Moneylenders. These lenders must strictly follow the regulations outlined in the Moneylenders Act, including interest rate caps, proper loan procedures, and transparent fee structures.

Licensed money lenders can provide loans both online and at their registered physical premises. To be considered legal and legitimate, a lender must appear on the official list published by the Ministry of Law.

1133 Moneylenders is a fully licensed and legal money lender in Singapore, authorised to operate under the Registry of Moneylenders. We uphold the highest standards of compliance, integrity, and transparency in every loan we offer, ensuring a safe and responsible borrowing experience for all our clients.

The Moneylenders Act is a legal framework that all authorised money lenders in Singapore must adhere to. This legislation outlines the standards for the regulation of money lending, oversees the functions of a credit bureau, and sets guidelines for the acquisition, usage, and sharing of information related to borrowers during the loan application process.

It establishes the lawful parameters for the operations of licensed money lenders in Singapore.

Always verify the lender’s official status by checking their name against the list of licensed moneylenders provided by Singapore’s Ministry of Law.

Additionally, legitimate moneylenders will never:

• Solicit loan applications through text messages, WhatsApp, or phone calls.

• Approve your loan remotely without requiring an in-person meeting at their official place of business.

• Ask you to pay upfront fees or installments before disbursing the loan.
  

Licensed moneylenders are permitted to advertise only through:

• Business or consumer directories.

• Their official websites (beware of impostors).

• Physical signage at their registered business locations.
  

If you encounter ads from 1133 Moneylenders on platforms like Google Ads or Facebook Ads, avoid them completely—they are likely loan scams or illegal moneylenders.

You can find the official list of all licensed money lenders by visiting the Registry of Moneylenders’ online directory.

The Ministry of Law regularly updates this directory to reflect any changes, such as the issuance or revocation of licences. Currently, there are 153 licensed money lenders listed, though this number may vary with future updates!

No, there is no penalty for repaying your loan early. Since 1 October 2015, licensed money lenders in Singapore are only allowed to charge the following fees:

• A late repayment fee of up to $60 per month.

• An administrative fee of up to 10% of the approved loan principal.

• Legal costs as ordered by the court in the event of a successful loan recovery claim.
  

Borrowers can settle their loans early without incurring additional penalties beyond these regulated charges.

To check your credit report with the Moneylenders Credit Bureau, you can visit their official website and follow the instructions for obtaining your report. You will need to provide certain personal information and pay a nominal fee. 1133 Moneylenders can also assist you in understanding your credit report and how it may impact your loan application. Don’t worry, this request is free!

The MLCB is the Singapore government’s financial initiative to grant all licensed money lenders access to a borrower’s loan information.

The purpose of this initiative is to allow licensed money lenders to better gauge if a borrower can repay a loan. This in turn prevents borrowers from getting into huge debts that are beyond their capacity.

When you approach a licensed money lender for a loan, it will refer to your moneylender or MLCB report to check your credit score and creditworthiness.

In Mar 2016, the Ministry of Law entrusted DP Information Group (DP Info) with the responsibility of supervising the MLCB.

››

In Jul 2021, the Ministry of Law appointed Credit Bureau Singapore (CBS) as the new official operator of MLCB.

It is imperative to note that the MLCB does not have access to a borrower’s transaction history for banking facilities.

A loan information report constitutes your loan repayment records compiled from other licensed money lenders.

Authenticated money lenders are entitled to check your loan information report before approving your loan. Thus, a decent repayment history or lower aggregate loan limit will improve your eligibility.

The loan information report includes the following details:

• Personal details and employment information: The primary section of the report will include your full name and NRIC number, followed by your employment details and monthly income.

Exclusion list: This allows borrowers to exclude themselves from applying for unsecured personal loans.

• Loan type: This includes details of your existing loans and their types.

• Payment status and legend: This section shows your yearly repayment status for the existing loans that you have. Making timely repayments is favourable for loan approval.

MLCB loan information reports contain the personal and financial details of a borrower. This information is confidential, and only four parties have access to it.

They are licensed money lenders, borrowers, the Ministry of Law, and the Registry of Moneylenders.

Licensed money lenders access your loan information report from the MLCB when you apply for a loan. They also check the last time you paid your debts and your outstanding loan amount.

Borrowers can retrieve their MLCB or moneylender report for a small fee.

Lastly, the Registry of Moneylenders and the Ministry of Law have the right to check your loan details from their servers.

The Ministry assures potential borrowers of their data privacy. No unauthorised party can access your loan details.

For Singaporeans / PRs:

• Proof of identity (NRIC, passport)

• Proof of income (CPF / bank statements)

For Foreigners:

1. Latest 3 months payslip

2. Latest Employment Contract

3. Latest Bank Account statement slip

4. Tenancy agreement

5. Work Permit Pass

6. Identification Card of your country

If you're an entrepreneur, taxi driver, or earn income through commission, 1133 Moneylenders has you covered. Simply provide your two latest income tax returns, and we’ll calculate your average monthly earnings to determine the suitable loan amount for you.

Absolutely not!

Making an enquiry or submitting an application form does not mean you have to commit to taking the loan. You'll only proceed when you're completely comfortable with the terms and conditions.

If you have more questions or need assistance, feel free to reach out to us through our Whatsapp or call us directly at +65 6556 1133.

Yes, absolutely!

Unlike banks, which typically reject applicants with poor credit ratings, 1133 Moneylenders welcomes applications from everyone, regardless of credit history.

We carefully assess each application individually, striving to fully understand your financial circumstances. If your situation shows that repayment is manageable, we're happy to approve your loan.

Our goal is to provide financial assistance without strict credit-score barriers. You can conveniently apply for a loan with us today here!

In recent years, an increasing number of Singaporeans are managing multiple loans. Statistics show a significant 78% rise in borrowers taking at least two different loans—typically a home mortgage alongside an education loan. However, if you still need additional financial assistance, applying for another loan remains a practical option.

At 1133 Moneylenders, we’re committed to supporting our customers responsibly. We won't push clients into loans they cannot comfortably manage, as we understand this could add unnecessary financial stress. Instead, we carefully evaluate each borrower’s circumstances to ensure we provide loan amounts that are reasonable and affordable.

Once your loan is approved, we'll either transfer the funds directly into your bank account or hand you the agreed-upon amount on the spot. Afterwards, simply ensure you make your loan repayments on time—it's as easy as that!

Once you’ve signed the loan contract, you can receive your money in cash or cheque right on the spot at our office.

Your personal information is highly secure when dealing with a licensed money lender in Singapore. Licensed lenders, like us at 1133 Moneylenders, place utmost importance on the privacy and security of your data.

We employ security protocols to protect your personal information. Our systems undergo regular updates and monitoring to prevent unauthorised access. Compliance with stringent data privacy laws and adherence to industry standards are at the core of our operations to ensure top-level security.

You can be confident that your personal details are treated with the highest degree of confidentiality and care, sustaining a secure environment throughout all your dealings with us.

Yes, it is possible for an unemployed individual to obtain a loan from licensed money lenders in Singapore, as long as they can provide proof of a consistent income!

This income could come from sources like alimony, dividends, annuity payouts, or monthly disbursements from retirement plans. Providing documentation that verifies these income streams can greatly assist in the loan approval process.