Rank Xone
1462 posts
Jul 05, 2025
6:43 AM
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The Ministry of Law in Singapore provides an official finance directory and regularly updated list of licensed moneylenders to help consumers identify legal and approved lenders. This list can be accessed directly from the Registry of Moneylenders’ website and includes important details such as the business name, license number, and registered office address of each approved lender. Only lenders on this government-maintained list are legally permitted to offer loans in Singapore.
Using this official list ensures that borrowers avoid illegal moneylenders or scammers who may pose as legitimate lenders online or via unsolicited messages. All licensed moneylenders are required to conduct in-person verifications at their registered offices and follow strict rules about advertising, interest rates, and loan terms. For example, licensed lenders may charge a maximum of 4% interest per month and must disclose all fees and conditions clearly before a contract is signed.
Borrowers are encouraged to verify the legitimacy of any lender by cross-referencing their license details with the Ministry’s list. Licensed lenders will never request upfront payments via WhatsApp or SMS and will always conduct business through formal, traceable channels. Using the government-approved list helps protect consumers from predatory lending and ensures access to legal, transparent, and fair loan services in Singapore.
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