How Much Can I Borrow From a Licensed Moneylender ?

Licensed moneylenders are part of the financial institutions that have the authority to grant loans to people, which are repaid over a stipulated period of time. On short notice, moneylenders can come in handy, and they offer several types of loans, including personal loans and payday loans.
You have to be sure that the moneylender you want to sign up with is licensed and following the rules and regulations that are in place to protect both them and we the customers.

Unlicensed moneylenders in Singapore are basically loan sharks who have no qualms about cheating you out of house and home, and may even commit identity theft, ruining you in the process.


Moneylenders have a more flexible loan approval process, allowing you to access your loan in the fastest time possible, at least faster than if you were getting a loan from the bank.

Most moneylenders keep the background checks to a minimum, requesting just a few documents on your part. With strict interest rate charges set by regulatory bodies, borrowing from moneylenders can make repayment easier for you than borrowing from other lending institutions.


There are two types of loans that you can opt for when borrowing from a moneylender:

Secured loans are loans that you get after giving the moneylender some collateral, which ensures that you repay the loan.
Unsecured loans are loans that you get on the basis of your credit score or credit history, without any form of collateral.

When borrowing from moneylenders, you can get any amount you want if you are taking a secured loan.
If you are taking an unsecured loan, you are eligible for the following amounts:

If your annual income is less than S$20,000, you can borrow up to S$3000.
If your annual income is more than S$20,000 but less than S$30,000, you can borrow up to 2 months’ income
If your annual income is more than S$30,000 but less than S$120,000, you can borrow up to 4 months’ income.
If your annual income is S$120,000, you can borrow any amount you want.


As of October 2015, moneylenders charge an interest rate at the maximum of 4%, regardless of amount borrowed. This 4% interest is also charged for nothing secured and unsecured loans.
If you miss a repayment in any month, the interest on that late payment is still 4%, and it is charged to the delayed payments.


Moneylenders are permitted to place the following fees, and only these fees, on the loans they grant:

When you have been granted a loan, you are charged a fee of no more than 10% of the principal of that loan
For each month’s repayment that you miss, you are charged a fee of not more than S$60
For any successful claim filed by the moneylender for the recovery of a loan, you are to pay the legal costs that have been ordered by the court

About 365 Credit Solutions

365 Credit Solutions Pte Ltd is an established licensed moneylender since 2010 (formerly known as FLS Credit and Fu Lu Shou Credit), accredited by the Registry of Moneylenders in Singapore. We specialize in providing personal, payday, bridging, foreigner, business loans to Singaporeans & Foreigners working in Singapore.


Our mission is to help make taking a loan a simpler, more understandable process, and to educate our customers about their loan options in the event of an urgent need.

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