Licensed Moneylenders in Shenton Way

NRIC for Singaporeans and PR’s or a valid passport and work pass for foreigners. Recent payslips or CPF contribution history as income proof. A document confirming current residential address utility bill, bank statement or tenancy agreement. For contract or commission based workers common in the financial sector, bank statements showing regular salary or commission credits over the past three months are typically accepted.

With complete documents, approval typically takes 30 minutes to one hour. Same-day disbursement via cash or bank transfer is standard. Moneylenders are legally required to explain every clause of the loan contract before the borrower signs, adding time to the process but serving as a mandatory consumer safeguard.

1. Interest at a maximum of 4% per month on the outstanding balance
2. An administrative fee of up to 10% of the loan principal charged once at disbursement
3. A late payment penalty of up to $60 per month for missed repayments.

The total cost of borrowing including principal, interest, fees, and all penalties is capped at twice the original loan amount under the Moneylenders Act.

Foreigners with a valid Employment Pass, S Pass or work permit are eligible. Those earning under $20,000 annually are capped at $1,500 across all licensed moneylenders. EP holders earning above $20,000 can borrow up to six times their monthly salary. A passport, work pass and verifiable income documentation are required.