First published: 14 June 2021 @ 4:08 pm
Client: Licensed Moneylender Singapore
Written By: The Big Writer
Published At: Read More
Until relatively recently, Singaporeans unable to secure a loan from traditional lenders such as banks faced a financial dead-end. The situation was exploited by non-licensed moneylenders in Singapore, loan sharks known colloquially as ‘Ah Longs’.
Today, the government’s regulation of non-traditional lending has created a competitive market that offers borrowers a range of excellent legal options. Here are the top 8 licensed moneylenders in Singapore.
Galaxy Credit
Galaxy Credit stands out for its vast array of specialised loans, which is why it easily takes the top spot. This Ang Mo Kio money lender caters to a wide range of clientele and fine-tunes its loan conditions to suit each applicant’s specific needs.
Personal Loan
Business Loan
Bridging Loan
Debt Consolidation Loan
Wedding Loan
Payday Loan
Study Loan
Renovation Loan
Vacation Loan
Foreigner Loan
Grab/Gojek Loan
Galaxy emphasises its commitment to a quick assessment and approval process. Borrowers will be hard-pressed to find a licensed money lender with a faster time-to-cash period.
R2D Credit
R2D Credit makes our list of money lenders for its combination of high approval rates and low-interest terms. This Yishun money lender also offers a range of specialty loans, including:
Grab/Gojek Loan
Wedding Loan
Renovation Loan
Medical Loan
Bridging Loan
Study Loan
R2D Credit’s presence in Yishun is a welcome development; the area had previously developed an unenviable reputation for high crime and loan sharking activity. Now, residents have a licensed, reliable legal option in their neighbourhood.
Soon Seng Credit
Located right in the centre of Singapore, Soon Seng Credit is perhaps the most easily accessible licensed money lender in the country. It, too, offers a variety of consumer-specific loans:
Personal Loan
Payday Loan
Business Loan
Debt Consolidation Loan
Grab/Gojek Loan
Wedding Loan
Renovation Loan
Medical Loan
Bridging Loan
Study Loan
Soon Seng places great emphasis on transparency and trust, which are the two critical elements of the borrower-lender relationship. Few other lenders are as focused on ethical lending as this company.
UK Credit
UK Credit is strategically located at New Upper Changi Road in Bedok North Central, one of the most densely-populated regions in the country. While office space here is expensive, it allows UK Credit to serve a large portion of the population. Coupled with the ample transport and connectivity options, the company is able to provide its services to more people than many of its competitors.
Another advantage UK Credit offers is its dedicated fast cash loan option. This loan is popular with individuals who need cash but do not have the luxury of going through a prolonged application process.
96BM Credit
If consumer reviews are any gauge of a company’s worth, the 1,200+ 5-star reviews on Google for 96BM Credit easily put this legal moneylender in the Top 8.
Personal Loan
Wedding Loan
Payday Loan
Renovation Loan
Business Loan
Medical Loan
Debt Consolidation Loan
Bridging Loan
Grab/Gojek Loan
Study Loan
96BM boasts some of the highest approval rates in the industry, which is no surprise considering that they do not assess your credit score. If you have had credit issues in the past, speak to this licensed money lender.
Synergy Credit
Imitation is the best form of flattery and Synergy Credit has made such a name for itself that scammers frequently impersonate its staff to con people. The company itself maintains the highest standards of integrity and ethical lending in accordance with all applicable laws. They offer several specific loans:
Debt Consolidation Loan
Grab/Gojek Food Delivery Loan
Medical Loan
Renovation Loan
Study Loan
Wedding Loan
Business Loan
Cash Direct
Established in 2016, Cash Direct is one of the oldest licensed operations on our Top 8 list of money lenders. In this time, they have created several case-specific loans:
Foreigner Loan
Business Loan
Payday Loans
Debt Consolidation Loan
Grab/Gojek/Taxi loan
Wedding Loan
Renovation Loan
Medical Loan
Bridging Loan
Study Loan
Cash Direct strives to personalise each loan and its terms to suit every borrower. Speak to them about their custom payment schedules for your convenience.
Goldstar Credit
Rounding off our list of money lenders in Singapore is Goldstar Credit, proof that last is definitely not least. This company is one of the few licensed moneylenders in Singapore that is large enough to maintain two branches.
The first is located in The Midtown on Upper Serangoon Road in Hougang Central. Hougang is a mature estate and the town with the biggest population in the North East. The second is at Toa Payoh Central, a minute’s walk from Toa Payoh MRT Station. The Toa Payoh region is home to several housing estates and many small to medium enterprises (SMEs).
While we have ranked these moneylenders in Singapore, the best option for your specific circumstances may vary. Galaxy Credit is the leading licensed money lender in the Ang Mo Kio region. No matter where you are, contact us and discover for yourself why we topped the list.