Why Licensing Matters
In Singapore, only MinLaw-licensed moneylenders can legally lend money. Borrowing from unlicensed lenders ("ah longs" or loan sharks) exposes you to:
- Harassment: Threats, workplace visits, vandalism
- Exorbitant rates: 20–40% per month (vs. legal cap of 4%)
- No legal recourse: Contracts are unenforceable
- Data abuse: NRIC, contacts, SingPass details sold
⚖️ The Law Is on Your Side
Under the Moneylenders Act (Cap. 188), licensed lenders must follow strict rules on interest caps, fee limits, advertising, and collection practices. Unlicensed lending is a criminal offence — punishable by fine up to $300,000 and/or 4 years' jail.
3-Step Verification (Official MinLaw Method)
Never trust a website, business card, or WhatsApp message alone. Always verify via the official Ministry of Law registry.
Step 1: Go to the Official Registry
Visit: rom.mlaw.gov.sg → Information for Borrowers → List of Licensed Moneylenders
Bookmark this URL. Do not click links sent by lenders — they may lead to fake lookalike sites.
Step 2: Search by Exact Name or License Number
Enter the exact business name (e.g., "Alles Autos Credit") or license number (e.g., "123/2025"). The registry shows:
- Business name & license number
- Business address (must match physical office)
- License expiry date
- Allowed loan types
Step 3: Cross-Check Physical Details
Licensed moneylenders must operate from a physical office at the registered address. Before signing:
- Visit the office in person (or verify via Street View)
- Check license displayed prominently at the counter
- Verify staff can produce the license on request
- Ensure no "lock-in" contracts or blank signed documents
✅ Quick Verify: Our 9 Partner Lenders
Every lender on CreditMatchSG is pre-verified. Click any MinLaw badge on our comparison page to go directly to their registry entry.
🚩 10 Red Flags of Illegal Lenders
✅ Verification Checklist — If ANY apply, WALK AWAY
⚠️ Common Scam Tactics (2026)
- Fake MinLaw emails: Sender domain not @mlaw.gov.sg
- Clone websites: URL slightly different (e.g., "mlaw-sg.com" vs "mlaw.gov.sg")
- "Government grant" loans: No such thing — grants don't require repayment
- Instant approval via WhatsApp: Legitimate lenders need proper assessment
Your Rights as a Borrower
When you borrow from a licensed moneylender, you are protected by law:
Interest & Fee Caps (MinLaw Regulated)
- Interest: Max 4% per month (on reducing balance)
- Late interest: Max 4% per month on overdue amount only
- Late payment fee: Max $60 per month
- Processing fee: Max 10% of principal (deducted upfront)
- Legal costs: Only if you default and they sue — capped at reasonable amounts
Contract Requirements
- Must be in writing, signed by both parties
- Must state: principal, interest rate, repayment schedule, total payable
- Must include license number and business address
- 14-day cooling-off period for loans ≤ $10,000 (cancel with no penalty)
Collection Practices
- No harassment, threats, or violence
- Contact only between 8am–9pm
- No workplace visits without consent
- No disclosure of debt to third parties (employer, family, neighbours)
📞 Need Help?
If a licensed lender violates rules: Report to Registry of Moneylenders → rom.mlaw.gov.sg or call 1800-2255-529.
9 Licensed Moneylenders on CreditMatchSG
All pre-verified with direct MinLaw registry links. Compare real rates side-by-side:
Alles Autos Credit
Up to $30,000 • 1-12 months • 4.9★ (214 reviews)
Credit 89
Up to $50,000 • 1-12 months • 4.7★ (188 reviews)
Credit 21
Up to $60,000 • 1-12 months • 4.6★ (203 reviews)
Katong Credit
Up to $50,000 • 1-12 months • 4.7★ (289 reviews)
ABM Creditz
Up to $40,000 • 1-12 months • 4.8★ (312 reviews)
Cash Mart
Up to $50,000 • 1-12 months • 4.5★ (167 reviews)
Unlimited Finance
Up to $20,000 • 1-6 months • 4.6★ (95 reviews)
Horison Credit
Up to $45,000 • 1-12 months • 4.4★ (142 reviews)
QS Credit
Up to $40,000 • 1-6 months • 4.3★ (118 reviews)
How to Report Illegal Lenders
1. Police Report (Emergency: 999)
If threatened, harassed, or in immediate danger.
2. Registry of Moneylenders
Online: rom.mlaw.gov.sg → "File a Complaint"
Hotline: 1800-2255-529 (Mon–Fri, 8:30am–5:30pm)
3. X-Ah Long Hotline
Dedicated loan shark reporting: 1800-924-5664 (24/7)
4. ScamShield App
Report scam calls/SMS/websites. Download from App Store / Play Store.
Compare verified licensed lenders safely — no hidden fees, no harassment.
View All 9 Licensed Lenders →
