24 Hours Money Lender In Singapore: Where To Find Them And What To Take Note Of

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24 Hours Money Lender In Singapore: Where To Find Them And What To Take Note Of

April 28, 2024

When you’re facing financial difficulties, panic may set in. Whether you need quick cash for something as basic as car repairs or a medical loan for a crucial as surgery, finding a 24 hours money lender is urgent.

Key Takeaways

  • 24-hour Lenders: None exist, but online applications are 24/7.
  • How it Works: Online applications, face-to-face verification needed.
  • Applying for Loans: Online forms, documents, and in-person meeting.
  • Spotting Unlicensed Lenders: Look for erratic fees and poor contracts.
  • Avoiding Scams: Check for due diligence and physical address.
  • FAQs: Regulated interest and fees, complaint channels exist.

In addition, Singapore’s bustling lifestyle means that you often only have the weekends to take care of your personal requirements. Therefore, you could be searching for the best licensed money lender online or for a “licensed money lender near me” or “money lender near me” that can meet your demands and is available on Sunday or outside of regular business hours.

We shall talk about 24-hour money lenders in Singapore in this article. Find out how to distinguish between licensed and unauthorized lenders as well.

What Do Licensed Money Lenders In Singapore Do?

The Ministry of Law regulates and checks licensed moneylenders’ activity in Singapore. These agencies offer legal loans to everyone, whether citizens, PRs or foreigners.

If you need urgent cash, most licensed moneylenders offer streamlined application processes. But can you get that loan at any time during the day?

Are There 24 hours Money Lenders In Singapore?

You can’t find 24-hour money lenders in Singapore, unfortunately. If an agency claims to be open non-stop, it’s probably a loan shark masquerading as a legal loan officer. Please be careful of these scammers!

The other possibility is that the licensed moneylender is breaking the law.

Don’t stop reading, though. Here’s a solution for you:

Most moneylenders in Singapore have 24-hour websites where you can apply even at 2am.

Now you’re probably wondering where you can get your personal loan.

Credit Thirty3 boasts fast approval times. You can apply with us anytime, and we will get back to you within an hour.

Here’s how it works:

Our loan platform uses MyInfo to get your info from several government agencies and credit bureaus. Connect with SingPass, and we’ll have access to your financial background. That way, there’s no room for human error, so that our website will process your application in minutes.

However, the Ministry of Law imposes face-to-face verification as a mandatory step in loan disbursement.

No licensed moneylender can hand you the cash without due diligence—those who promise that are either loan shark or breaking the law.

So, a loan officer from Credit Thirty3 will contact you as soon as the business hours start. For example, if you apply on a Sunday, we may arrange a meeting to hand you your cash first thing on Monday.

Warning: Some loan sharks build professional-looking websites that mimic the legal ones. To avoid being scammed, you should double-check your moneylender on the MinLaw official website.

The scammers build really similar websites, but it will provide mobile numbers that expose their scam. All licensed moneylenders will have a landline.

How To Apply For A Personal Or Emergency Loan


Most moneylenders in Singapore have streamlined loan applications on their websites.

Here are the basic steps below:

Go to your chosen loan provider’s website.

  1. Add your standard details (name, citizenship status, income, desired loan amount); it only takes minutes.
  2. Log in on the website using SingPass. That way, your financial data is automatically filled in on your moneylender’s website.
  3. Upload any required documents, such as: Payslips or tax statement to verify your income and utility bills that prove your residence.

Next, you will have to click to submit your application and wait for the results. Some moneylenders in Singapore promise to pre-approve your request as quickly as ten minutes, whereas others might take an hour.

Now, the most crucial step is to arrange an appointment at your moneylender’s headquarters. Remember that it’s a red flag if the loan provider skips this step.

At the meeting, the loan agent will clearly explain your contract terms and answer your questions transparently. Then, you can collect your money.

How To Spot An Unlicensed Money Lender

The first step of spotting and loan shark is that they promise 24-hour loans.

However, no legal creditor will meet with you in the middle of the night to hand you cash without due diligence.

Here are other signs of an unlicensed moneylender (or one who’s not abiding by the law):

Lack Of A Well-Written Contract

Loan sharks don’t write up complete contracts. Instead, they ask you to sign blank documents or semi-completed ones. Missing info includes:

  • Precise instalment schedule
  • Interest amounts
  • Tenor
  • All applicable fees
  • A precise course of action in the case of missed payments and loan default
  • Your rights and obligations
  • The moneylender’s rights and obligations

There should be two copies of this contract: one for you, signed by the moneylender, and the other for your financial partner.
Instead, loan sharks use:

  • Oral agreements
  • Texts, WhatsApp messages
  • Calls


MinLaw restricts moneylenders’ fees to the following:

  • 4% monthly interest rate
  • $60 penalty fee for late payment
  • 10% of your maximum loan amount as an administrative fee
    By comparison, the loan shark will impose chaotic fees, ever-growing interest rates, and substantial penalty sums.

They may even require loan-approval charges to speed your application. This means that they request money before disbursing your loan. Licensed moneylenders will never do that.

Advertising Channels

Licensed moneylenders in Singapore can only advertise their practice on:

  • Business directories
  • Consumer directories
  • Their websites
  • Their headquarters’ walls, doors, windows, etc.

So, texts, flyers or Google Ads all point to an illegal moneylender.

You can also check the Ministry of Law website for the list of licensed money lenders in Singapore and their official addresses.

Maximum Loan Amount

The Ministry of Law restricts maximum loan amounts to the following sums depending on your income and citizenship status:

Annual incomeSingapore Citizens and Permanent ResidentsForeigners residing in Singapore
Less than $10,000$3,000$500
$10,000 – $20,000$3,000$3,000
$20,000 and aboveSix times of monthly incomeSix times of monthly income

If your moneylender is offering more, it is not that they are nice. It’s probably an loan shark.

Illegal Practices

If you’re late repaying the loan, a licensed moneylender will go over the legal steps with you. You can also ask the help of Credit Counselling Singapore if you can’t repay your loan. This NGO can negotiate another repayment schedule or will help with loan consolidation options.

Worst case scenario, a licensed moneylender can take you to court.

Loan shark, on the other hand, use:

  • Physical force
  • Intimidation
  • Bullying
  • Harassment (workplace, family)
  • Blackmail
  • Threats
  • Acts of vandalism
  • Unlawfully seizing your property

How To Avoid An Online Loan Scam


Imagine you’re in black waters, looking for a quick 24-hour loan. Then, an ad pops up.

This is a loan shark fishing for desperate customers with their savvy online scams. Building a professional-looking website is easy nowadays. With a fake address, loan sharks can effortlessly hook hundreds of unsuspecting Singaporeans before the police get wind of them.

So, here are the signs that point to an online loan scam:

Remote Application And Loan Disbursement

In this era of high-tech and high-speed, most loan providers in Singapore and abroad accept online loan applications. It’s also fairly common for your submission to be pre-approved in minutes.

While this practice has its advantages, it also created enough space for loan shark to scam people.

Loan sharks may use the information you’ve filled in on their website to track you down even if you don’t end up borrowing money from them.

That’s why we urge you again to vet your moneylender on MinLaw’s official website.

However, if you’ve sent your loan application, another tell-tale sign is this: The loan shark will approve and even disburse your loan without a due-diligence meeting and transparent contract.

Illegal Practices

Let’s say you only need $500 for an emergency. This sum is small, so the loan shark gives you the money quickly, even at midnight.

However, they’ll ask you to hand over your ID card, SingPass or bank account passwords as a sign of good faith. Remember that no good-faith legal creditor will ever request that of you.

Besides, the loan shark may ask the same things if you’re late repaying the loan. Even if you think that handing over these documents is innocuous enough, don’t be fooled. The loan shark can use your passwords and ID for illegal practices, and then, you’re becoming an accomplice. As such, you may be prosecuted and faced with jail time, fines, plus strokes of the cane.

Fees And Interest Rates

Remember that loan sharks will ask:

  • Upfront charges
  • Processing fees
  • Erratic interest rates
  • Huge missed-payment charges

Physical Addresses

MinLaw requires licensed moneylenders to have physical addresses for due diligence and signing the contract. If a creditor doesn’t have this sort of address, they’re likely operating an illicit practice.

Licensed Money Lenders In Singapore FAQ

If you’re here, you know that there’s no 24-hour moneylender in Singapore. Any creditor who promises this sort of non-stop service is either loan shark or operating outside the law.

However, you know that you can apply on licensed moneylenders’ websites at any time of the day. You also learnt how to steer clear of iffy characters.

Now, let’s look at some of the most frequently asked questions:

How Is My Interest Rate Calculated?

We already established that the maximum allowed interest rate is 4%/ month. No one can ask you for more, even if your income is in the low range or if you’re borrowing more money without collateral.

Let’s say that you’re borrowing $1,000. Your first month’s interest rate is 4% of that $1,000, aka $40. At the next installment, you’ll have to pay 4% of the remaining sum and so forth.

So, even if your interest rate is fixed at 4%, the actual sum decreases as your debt shrinks. Or if you need help, here is our very own personal loan calculator to help you.

Repayment Breakdown for a Fixed 4% Interest Rate

MonthBeginning BalanceInterest (4% of Balance)Total Owed After Interest

This table showcases how, even with a fixed 4% interest rate, the actual interest amount decreases as the principal debt reduces with every installment.

What about late repayment charges?

MinLaw establishes a $60 maximum fee for each month of late repayment and caps the interest rate at 4% per month.

Here’s the catch: 4% are calculated based on the installment you’re late for.

Let’s say you need to reimburse a debt of $5,000, and your monthly instalments are $300. If you’re late paying one instalment, this late fee charge is 4% of $300, meaning $12.

If the moneylender asks you to repay 4% of $5,000, meaning $200, they’re moving outside of the law.

How Do I Lodge A Complaint Against A Money Lender?

Although moneylenders’ activity is regulated and verified by the Ministry of Law, some loan agents may try to break the rules. It happens in every business.

If you’re catching wind of illicit practices, you can contact the Singapore Police or the Registry of Moneylenders.

For this complaint, you’ll need your creditor’s:

  • Company name
  • License number
  • Contact info

You can contact the Registry of Moneylenders:

What Can I Do If A Licensed Money Lender Is Harassing Or Threatening Me?

Remember that nobody is allowed to use violence against you, whether physical or verbal. Therefore, you must contact the police immediately at:

  • Emergencies – 999
  • Police Hotline – 1800 255 0000
  • Emergency SMS – 71999

What Must A Money Lender Tell Me Before Granting A Loan?

A moneylender can’t approve your loan until you’re okay with the contract terms. Thus, a legal creditor should inform you about:

  • Your nominal interest rate
  • Installment amount
  • Late fees and interest rate
  • Your tenor

You should also receive a cautionary statement before getting the loan.

This document includes various potential abuses that certain moneylenders use. You will also find specific courses of actions outlined clearly on how to report these practices formally. After you understand all the details, you will sign this document.

Want an emergency loan now? Credit Thirty3 in Singapore features a 24-hour available website where you can fill in your application in minutes.

Apply now, and you can have your cash in hours!