Guide To Borrowing Personal Loans From Legal Moneylenders (2023)

Are you short of funds and planning to borrow from the best-licensed moneylender in Singapore?

But before that, you must first understand the things to consider before borrowing from a top licensed moneylender.

Paying off bills and expenses without any assistance can be really challenging, especially when you’re living in one of the most expensive cities in the world — Singapore. Things like medical bills and wedding costs, for instance, can easily cost thousands of dollars in Singapore. 

When there’s not enough money to pay off these expenses, most people may choose to take out loans from the bank. But banks tend to have a longer and more stringent approval process, which might not be helpful if you need cash urgently.

This is why when it comes to loans, licensed moneylenders are a viable alternative to banks since they generally have faster approval. But borrowing from them or with 24-hour licensed moneylenders in Singapore may not be something that sits well with everyone. 

“Is borrowing from a licensed moneylender really safe?” is one of the concerns that people have when it comes to borrowing from them. Well, contrary to popular belief, all licensed moneylenders are governed by the Ministry of Law (Min Law). They’re very much different from illegal moneylenders, so it’s really safe to borrow from them.

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