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.