Licensed Moneylenders in Bugis

Only borrow from lenders that appear on the Ministry of Law’s official registry. Legitimate licensed moneylenders will always meet you in person at their registered office, never ask for your SingPass credentials and never charge any fees before your loan is approved. Avoid anyone who contacts you through SMS, WhatsApp or social media legal lenders are prohibited from soliciting business through these channels.

You will typically need your NRIC or valid passport (for foreigners), proof of income such as recent payslips or CPF contribution statements and proof of your address. If you run a small retail or F&B business along Arab Street, Haji Lane or the Bugis area, lenders may accept bank statements, invoicing records or tax filings as alternative proof of income.

Most licensed moneylenders can process and approve applications within 30 minutes to a few hours, provided all documents are in order. Funds are usually disbursed via cash or PayNow on the same day. Having all your documents ready before visiting a lender’s office may fast track the entire application process.

Many lender offices in the Bugis area operate during standard business hours, making a lunchtime visit feasible if you work nearby. To save time, you can prepare your documents and complete any online application steps beforehand so the in-person visit is as quick as possible.

The Bugis, Rochor and Little India corridor has a large expat and foreign worker population. Foreigners holding a valid work permit, S Pass or Employment Pass can apply. 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 you miss a repayment, the lender may charge a late payment fee of up to $60 per month of delay. Interest will continue to accrue on the outstanding balance. Licensed moneylenders are not allowed to use threatening or abusive collection practices.

If you are struggling with repayments, it is best to contact your lender early to discuss restructuring your repayment schedule as most legitimate lenders are willing to work with borrowers facing genuine repayment difficulties

If annual income is less than $20,000 applicants can borrow up to $1,500. If annual income is $20,000 or more applicants can borrow up to six times your monthly income. These limits apply across all licensed moneylenders combined so any existing loans with other lenders count towards total borrowing cap.