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Accessing the list of licensed money lenders in Singapore is simple and essential for anyone seeking safe and legal financial assistance. The Ministry of Law maintains an official Registry of Moneylenders, which lists all approved lenders along with their license numbers, office addresses, and business names. This registry ensures that borrowers can verify the legitimacy of any lender before applying for a loan.
Licensed money lenders operate under strict regulations to protect borrowers from unfair practices. They are prohibited from sending unsolicited loan offers via SMS or calls, and they must conduct all transactions at their registered office. A physical face-to-face meeting is required by law before loan approval, ensuring full transparency and accountability. Interest rates and fees are capped, and borrowers receive a clear loan contract detailing all terms and repayment schedules.
Using the official registry helps individuals avoid loan scams and unlicensed lenders who often promise easy loans but demand upfront payments or personal information. Legitimate lenders do not charge any fees before disbursing the loan and will never pressure you into taking a loan you cannot afford.
For the most up-to-date information, always refer to the Ministry of Law’s website or trusted financial directory that link directly to the official list. This simple step ensures that you borrow safely, responsibly, and in full compliance with Singapore’s financial laws.
Licensed money lenders operate under strict regulations to protect borrowers from unfair practices. They are prohibited from sending unsolicited loan offers via SMS or calls, and they must conduct all transactions at their registered office. A physical face-to-face meeting is required by law before loan approval, ensuring full transparency and accountability. Interest rates and fees are capped, and borrowers receive a clear loan contract detailing all terms and repayment schedules.
Using the official registry helps individuals avoid loan scams and unlicensed lenders who often promise easy loans but demand upfront payments or personal information. Legitimate lenders do not charge any fees before disbursing the loan and will never pressure you into taking a loan you cannot afford.
For the most up-to-date information, always refer to the Ministry of Law’s website or trusted financial directory that link directly to the official list. This simple step ensures that you borrow safely, responsibly, and in full compliance with Singapore’s financial laws.