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Sim Lim Tower, 10 Jalan Besar Sim Lim Tower #01-01, 208787

Have Questions?

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How do I apply or submit my Loan Application form?
You may do so via 3 platforms. The first being our online application portal which can be found on this website; alternatively you may choose to approach our services directly at our branch or reach us through email at [email protected].

95% of Applications are processed within the hour of your application and the outcome will be released to you. However, should we require any additional documents or verifications, then it might take an extra few hours.

Only Singaporeans and Permanent Resident’s of Singapore may apply. All applicants must possess a valid domestic Proof of Identity such as NRIC. Applicants must be above the age of 18 with a valid proof of employment and income as well. For more details on the criteria for borrowing, please refer to the online application page

For Singapore Citizen and Permanent Resident (PR), you can loan up to SGD$3000, if your annual income is less than SGD$20,000. For annual income above SGD$20,000, you may loan up to 6X your monthly income.

As a licensed moneylender, the interest rates are charged up to a maximum of 4% per month. The range for interest is from 0% up to 4% with an acceptance fees up to 10% on your approved loan amount.

Based on the loan approved and as per the Contract issued, your repayment tenure may vary around the duration of one to three years. However, on a case by case basis, this may extend for up to 6 months or more.

Repayments can be done through a variety of channels. You may choose to make payments online at our website here or alternatively, you may proceed to do a funds transfer to our corporate account or approach our officers at our branch to make an over the counter payment.

Independent credit and asset based financing differs from Bank loans in the sense that we provide medium-term and short-term loans with minimal procedures to ensure that the funds reach you when you need it the most during your needed times whereas banking loans require a much more stringent process prior to approval and are usually tailored with a repayment tenure of years.

All information submitted and shared with Monetium Credit will be treated with the utmost confidentiality and kept with the strictest code of privacy. You may learn more about our privacy policy here.

What should I consider before taking up a loan?

You should keep these key points in mind:

  • Before approaching a moneylender, consider other alternatives, such as the various financial assistance schemes offered by various Government agencies. You may contact the agencies to find out more about their schemes.

  • You are legally obliged to fulfill any loan contract you enter into with a licensed moneylender.

  • Consider whether you are able to abide by the contractual terms, bearing in mind your income and financial obligations. Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.

  • The law requires moneylenders to explain the terms of a loan to you in a language you understand and to provide you with a copy of the loan contract. Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged and the fees applicable.

  • Consider carefully before agreeing to any contractual term which allows a moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment. When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full. If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.

  • You should always ensure that you have negotiated the most favourable terms with the Licenced Moneylender.

For secured loans, you can obtain a loan of any amount. For unsecured loans, please refer to the table below for the total maximum amount that you may borrow at any time across all moneylenders in Singapore:

Borrower’s annual income

Less than $10,000

At least $10,000 and less than $20,000

At least $20,000

Singapore Citizens and Permanent Residents


6 times monthly income

Foreigners residing in Singapore



6 times monthly income

With effect from 1 October 2015, the maximum interest rate moneylenders can charge is 4% per month. This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one. If a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

The computation of interest charged on the loan must be based on the amount of principal remaining after deducting from the original principal the total payments made by or on behalf of the borrower which are appropriated to the principal. [To illustrate, if X takes a loan of $10,000, and X has repaid $4,000, only the remaining $6,000 can be taken into account for the computation of interest.]

The late interest can only be charged on an amount that is repaid late. The moneylender cannot charge on amounts that are outstanding but not yet due to be repaid. [To illustrate, if X takes a loan of $10,000, and fails to pay for the first installment of $2,000, the moneylender may charge the late interest on $2,000 but not on the remaining $8,000 as it is not due yet.]

With effect from 1 October 2015, all moneylenders are only permitted to impose the following charges and expenses:

  • a fee not exceeding $60 for each month of late repayment;
  • a fee not exceeding 10% of the principal of the loan when a loan is granted; and legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also cannot exceed an amount equivalent to the principal of the loan. [To illustrate, if X takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees cannot exceed $10,000.]

Do not borrow from unlicensed moneylenders. Verify that a moneylender is licensed by checking the list of licensed moneylenders. “Click here to access the list of licensed moneylenders.”

Notwithstanding that the moneylenders are licensed, be mindful if they:

  • Use abusive language, or behave in a threatening manner towards you.
  • Ask for your SingPass user ID and/or password.
  • Retain your NRIC card or any other personal ID documents (e.g. driver’s licence, passport, work permit, employment pass or ATM card).
  • Ask you to sign on a blank or incomplete Note of Contract for the loan.
  • Grant you a loan without giving you a copy of the Note of contract for the loan and/or without properly explaining to you all the terms and conditions.
  • Grant you a loan without exercising due diligence (e.g. approving a loan over the phone, SMS or email before even receiving your loan application form and supporting documents, such as the income tax assessment and payslips).
  • Withhold any part of your principal loan amount for any reason.


Such practices are not acceptable. If you encounter them, you should report the moneylender to the Registry of Moneylenders, with information such as the moneylender’s business name, licence and contact numbers. Please see Question 10 for more details.

To find out more about unlicensed moneylenders, you may click on this link: Unlicensed Moneylending

Under the advertising rules, which took effect on 1 November 2011, licensed moneylenders are permitted to advertise only through these three channels: (a) business or consumer directories (in print or online media); (b) websites belonging to the moneylender; and (c) advertisements placed within or on the exterior of the moneylender’s business premises. All other channels are prohibited.

In this regard, the advertising rules can help you differentiate between licensed and unlicensed moneylenders. If you receive flyers, SMSes, emails or other forms of advertisements which are not permitted under the rules, these would be from either licensed moneylenders operating in violation of the rules, or unlicensed moneylenders. Hence, you are advised not to respond to such advertisements. Instead, you should report the advertisements to the Registry at 1800-2255-529 or via their contact page here. Errant licensed moneylenders will be investigated by the Registry and unlicensed moneylenders will be investigated by the Police.

You are advised to seek clarifications on specific terms of the loan contract before signing up with a licensed moneylender, and not to rely solely on the content of advertisements from the moneylender.

You should ensure that:

  • You understand your responsibilities as a surety;
  • You receive a copy of the Note of Contract at the time that the loan is granted to the borrower;
  • The moneylender has explained the terms in the Note of Contract in a language that you understand; and
  • The moneylender does not keep your NRIC card or any other personal ID documents (e.g. driver’s licence, passport).
  • The moneylender does not acquire any information that contains passwords to your user accounts (e.g. Singpass account, Internet banking account, email account).
  • Make sure the moneylender delivers to you the correct principal amount of the loan. The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan instalments on time to avoid incurring late payment fees and late interest.
  • Make sure the moneylender issues to you a receipt every time you make any repayment towards your loan, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your loan(s) at least once every January and July, and check it for correctness (e.g. name, amount, date); and
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.

You can contact the Registry at telephone number: 1800-2255-529.

Rest assured that the Registry will not disclose your details to the moneylender without your consent. To facilitate the Registry to investigate your complaint, you may need to attend an interview with our officers and provide us with all relevant information and documents related to your loan transactions and circumstances of your dealings with the moneylender. The Registry views complaints against moneylenders seriously and will investigate them thoroughly. Errant moneylenders will be taken to task.

If a moneylender has engaged in an unfair practice towards you, you can pursue the matter through the Small Claims Tribunal or the Court under the Consumer Protection (Fair Trading) Act. The Court also has the power to set aside loan transactions that are exorbitant or substantially unfair.Make sure you receive a statement of account for all your loan(s) at least once every January and July, and check it for correctness (e.g. name, amount, date); and You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.

The Registry of Moneylenders is not in a position to assist you in negotiating with his moneylenders with regard to his loans, as this is a matter of private contract between the moneylender and the borrower.

You may wish to approach any of the following social service agencies which help consumers recover from serious debt problems by providing general credit management information, credit counselling and where applicable, assistance in negotiating a debt repayment plan with creditors:

  • Association of Muslim Professionals (AMP)
    Address: 1 Pasir Ris Drive 4 #05-11 Singapore 519457
    Tel no.: 6416 3960
    E-mail: [email protected]

  • Adullam Life Counselling
    Address: 151 Chin Swee Road Manhattan House #08-04 Singapore 169876
    Tel no.: 6659 7844 / 9423 8832
    Email: [email protected]

  • Arise2Care Community Services
    Address: No. 5 Harper Road #02-01A Singapore 369673
    Tel no.: 6909 0628
    Email: [email protected]

  • Blessed Grace Social Services
    Address: 18 Arumugam Road, #05-01 Antioch@Macpherson Singapore 409962
    Tel no.: 8428 6377
    Email: [email protected]

  • Credit Counselling Singapore*
    Address: 51 Cuppage Road #07-06, Singapore 229469
    Tel no.: 6225 5227 / 6338 2663
    Email: [email protected]

  • One Hope Centre
    Address: 8 New Industrial Road #04-04B LHK 3 Building Singapore 536200
    Tel no.: 6547 1011
    Email: [email protected]

  • Silver Lining Community Services
    Address: (East) 11 Playfair Road Singapore, (West) Jurong Spring CC, 8 Jurong West St 52 Singapore 649296
    Tel no.: 6749 0400
    E-mail: [email protected]

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Disclaimer | Privacy Policy | Responsible Borrowing

Monetium Credit (s) Pte Ltd (UEN No. 201326118D) is a registered company under the laws of Singapore. Customers are strongly advised to take a look at our privacy policy & disclaimer sections. If you have any queries or concerns in regards to personal data, please kindly contact [email protected]