Licensed Moneylenders in Balestier

You will need your NRIC or valid passport if you are a foreign applicant, proof of income such as recent payslips or CPF contribution statements and proof of address. If you run one of the many small businesses along Balestier Road whether a retail shop, lighting showroom or F&B outlet lenders may accept bank statements, invoicing records or tax filings as alternative proof of income.

Licensed moneylenders in the Balestier area can typically process and approve applications within 30 minutes to a few hours, subject to complete documentation. Money is usually disbursed via cash or PayNow on the same day.

Balestier and the surrounding Whampoa and Boon Keng areas have a diverse resident population including many foreign workers and professionals. Foreigners holding a valid work permit, S Pass or Employment Pass can apply for loans from licensed moneylenders. You will need your passport, employment pass or work permit and proof of income.

Borrowing limits for foreigners earning less than $20,000 annually are capped at $1,500 under Ministry of Law regulations.

If your annual income is less than $20,000, you can borrow up to $1,500. If your annual income is $20,000 or more, you can borrow up to six times your monthly income.

These limits are set by the Ministry of Law and apply across all licensed moneylenders combined so any existing loans with other lenders count towards your total borrowing cap.