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Raffles Credit

Raffles Credit Moneylender
(Product Review)

By Dawn Chew Raffles Credit

Updated January 6, 2026

The product information in the comparison table is updated daily. We also update the news, consumer information and market insights on this page regularly.

3.92%

Monthly Interest Rate

Cashback Rewards

Price Beat Guarantee

Varies
  • Monthly repayment shown uses an indicative rate of 3.92% per month. Depending on your lender, actual rates may range from 0.25-4% per month.

    • Processing Fee

    Up to 6x

    Monthly Income

    $288.67
  • Monthly repayment shown uses an indicative rate of 3.92% per month. Depending on your lender, actual rates may range from 0.25-4% per month.

    • Monthly Repayment

    Apply Now

    Current Moneylender Interest Rate Trends

    Today’s moneylender interest rate trends in Singapore – As of Tuesday, January 6th, 2026, moneylenders in Singapore are charging an average monthly interest rate of 3.83%

    Product Review

    Raffles Credit is a top-rated licensed moneylender in Singapore, known for offering a wide range of loan products, including personal, payday, foreigner, business, bridging, CPF and renovation loans. They stand out for their efficient approval process, often completed within 30 minutes, competitive interest rates and transparent terms.

    Compare Loan Offers
    from 20+ Lenders
    Up to 1% Cashback*
    $20 Grocery Voucher*
    Quick 5 Minutes Approval

    $1,000

    $200,000

    3 Months

    72 Months

    Total Cashback

    10

    Your monthly payment

    337

    Rate Disclaimer*

    *Based on a $20,000 loan at 6.95% APR over 5 years, read more

    Recognised as one of the best licensed moneylenders of July 2024 by Loan Advisor, Raffles Credit is committed to customer satisfaction and secure transactions. Their well-designed website prominently displays their address, reinforcing their status as a legitimate moneylender.

    List of Licensed Moneylenders in Singapore (January 2026)

    All moneylenders listed below are authorised to operate legally in Singapore under the Moneylenders Act. They adhere to strict regulations set by the Ministry of Law including caps on interest rates, fees and ethical lending practices. Always verify a moneylender's license on the Ministry of Law's official website before proceeding with any loan application.

    Loan amount must be between 500 and 100,000.
    Tenure must be between 1 and 60 months.
    All
    All
    ROSHI Approved
    Low to High
    Low to High
    High to Low
    Alpha-8 Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    4.9  
    $1,060.58
    Check Eligibility
    Cash Direct
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    Raffles Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    EZ Loan
    Address
    1.99%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $945.02
    Check Eligibility
    HS Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    Dio Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    1 2 Lend
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    ​Fortune Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    5.0  
    $1,060.58
    Check Eligibility
    1st Capital
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    4.7  
    $1,060.58
    Check Eligibility
    Katong Credit
    Address
    3.92%
    Grocery Vouchers
    Up to 1% Cashback
    4.9  
    $1,060.58
    Check Eligibility
    Show All Lenders

    *Today's Moneylenders Rates - 6 January 2026

    Raffles Credit Application Requirements

    To apply for a loan through Raffles Credit, you need to:

    • Be at least 21 years old
    • Have a valid NRIC, Passport or Foreign Identification Card (FIN)
    • Provide proof of income (e.g., payslips, CPF statements or bank statements)

    PROMOTIONS

    APPLICATION PROCESS

    • Apply & Submit

      Start your loan application journey with our quick online application multistep form—it takes just 30 seconds to complete. Our advanced technology and expert loan specialists work together to match you with suitable options on our platform.

    • Document Upload

      Provide the necessary documents: your last 3 pay slips, a credit report from CBS or MLCB, and your IC/FIN details. Upload these files through your dashboard or email them to [email protected]

    • Application Review

      Our dedicated customer success team will carefully examine your application, contacting you if any additional information is required. Once we’ve verified your details, we’ll begin the process of matching you with appropriate lenders and loan options.

    • Compare Offers

      Compare loan offers in real-time through your application dashboard. Our customer success team is available to discuss loan details.

    • Lender Appointment

      After you’ve selected a loan option, we’ll assist in arranging an appointment with the chosen moneylender. Note that for moneylender options, assessment and disbursement must be completed in person at their branch.

    • Funds Disbursement

      Once you’ve agreed on the loan terms and signed the contract, you’ll receive a copy of the agreement. This document will outline your monthly payment schedule. Your funds will then be disbursed either in cash or via bank transfer.

    Raffles Credit Highlights

    • Speedy Approval

    Loans are often processed and approved within just 30 minutes, ensuring quick access to funds.

    • Versatile Loan Options

    Offers a variety of loan products to cater to different financial requirements, from personal to business needs.

    • Transparent Rates

    Provides clear and competitive interest rates with no hidden fees.

    • Simple Application

    Features an easy online application process that requires minimal paperwork, making it convenient for borrowers.

    • Secure and Trustworthy

    The company emphasises the privacy and security of personal information with a professional website that clearly displays their address and location.

    Frequently Asked Questions

    What makes Raffles Credit different from other lenders?

    They aim to make financing your needs easier than ever before. The company offers competitive personal loan plans that adhere to the Moneylenders Act and only impose the required and permitted fees for each plan. Interest payments are customised to your needs.

    Can I apply for a loan with bad credit?

    Many banks reject applications due to bad credit history, but Raffles Credit responsibly assesses your financial situation, whether you have a poor or good credit score. Our experienced team will carefully evaluate your situation to approve an affordable solution tailored to you.

    How does Raffles Credit operate?

    Raffles Credit offers a streamlined loan application process through their website, focusing on fast approvals and excellent customer service. Experienced loan officers guide borrowers through each step.

    What types of loans does Raffles Credit provide?

    Customers can apply for personal loans, payday loans, foreigner loans, business loans, bridging loans, CPF personal loans and renovation loans.

    How quickly can a loan be approved?

    Loans are typically approved within 30 minutes to one business day, ensuring quick access to funds. Raffles Credit’s loans offer a low interest rate with the opportunity for fast approval, meaning you can have your money typically within the day.

    Is Raffles Credit a legitimate moneylender?

    Yes, Raffles Credit is a licensed moneylender regulated by the Ministry of Law in Singapore.

    What is the process needed to apply for a loan?

    Applicants must provide a valid ID (NRIC, Passport or Foreign ID) and proof of income, such as payslips, CPF statements or bank statements. You can call or go their website to sign up for a Raffles Credit loan. Their loan officer will schedule an in-person appointment to discuss terms with you, then the borrowed money will be provided on the same day that the agreement has been signed.

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