Notes to Borrowers

Notes to Borrowers When Obtaining Loans from Licensed Moneylenders in Singapore

 

1) What should I consider before taking up a loan?

You should keep these key points in mind:

  • You might want to explore the alternative options you have. 
  • Fully understand your loan interest fee and other charges
  • You should not borrow from unlicensed moneylenders. In order to verify that your moneylender is licensed is by checking www.mlaw.gov.sg website for a updated list of approved and licensed Singapore moneylenders.