Reviewed by the PickMeALoan research team · July 2026
Ranked and reviewed
Top-rated providers
Oldest provider (Singa Credit)
Providers assessed
There are over 150 licensed loan providers in Singapore. Most borrowers searching for the “best” one are really asking a narrower question: which one is right for my situation, and how do I avoid the ones that will waste my time or charge me more than they should?
We reviewed 15 licensed providers, verified their licence numbers against the Ministry of Law registry, checked their Google ratings and review volumes, and assessed their loan products, approval speed, and borrower feedback. Here is what we found. The providers marked “Available on PickMeALoan” can be compared instantly through our platform: apply once, see multiple offers, choose the best rate within the regulated 4%/month cap.
How we ranked these providers
We weighted five factors, in this order:
- Verified borrower feedback. Google review count and rating, with more weight given to high ratings sustained across thousands of reviews (easy to hold 5.0 with 50 reviews, much harder with 5,000)
- Licence verification. Every provider’s licence number checked against the Ministry of Law registry
- Product range and accessibility. Loan types offered, foreigner eligibility, branch locations, and operating hours including weekends
- Speed and process. Approval time, Singpass integration, and disbursement speed
- Comparison availability. Whether borrowers can compare offers from the provider through an independent comparison platform like PickMeALoan, which gives borrowers more leverage and transparency
We didn’t accept payment or sponsorship from any lender for placement in this guide. PickMeALoan earns referral fees when borrowers use our platform to compare offers, but the rankings here reflect our research team’s independent assessment.
Providers you can compare on PickMeALoan
1. SGP Credit: best for SME
SGP Credit
Best for SMESGP Credit has the second-highest review count among all providers we reviewed, and their 5.0 rating across that volume is genuinely impressive. What sets them apart is the loyalty signal in their reviews: borrowers mention returning over 8+ years, which suggests the relationship extends well beyond a single transaction.
Their strength is business and SME lending. Small business owners in Singapore face a gap between bank business loans (high barriers, slow approval) and credit card debt (expensive, unstructured). SGP Credit fills that gap with same-day business loan approvals and transparent pricing. Because they’re available on PickMeALoan, you can compare their SME offer against other lenders without visiting multiple branches.
They’re a single-location operation in Jurong East, which isn’t convenient for borrowers in the east or CBD. They’re also closed on Sundays.
Read our full SGP Credit review
2. EZ Loan: widest range
EZ Loan
Widest RangeEZ Loan offers 16+ loan types, the widest range we found among all providers reviewed. This includes uncommon categories like investment loans, legal fee loans, and credit card consolidation loans. If you have a niche borrowing need that doesn’t fit a standard “personal loan” box, EZ Loan is worth checking.
They operate two centrally located branches, with the Marina Square office inside a JustCo co-working space (more discreet than a typical lender office, though harder to find on your first visit). They report 20,000+ clients served since 2010. You can compare EZ Loan’s offer against other providers on PickMeALoan without visiting either branch first.
3. Best Licensed Moneylender: best track record
Best Licensed Moneylender
Best Track RecordThe name is self-promotional, but the numbers back it up. Best Licensed Moneylender has been operating since 2004, claims 32,000+ customers and 500,000+ loans processed, and reports an average processing time of 46 minutes including disbursement. They offer 24/7 support including WhatsApp, Singpass MyInfo integration, and early repayment discounts.
Twenty-two years of continuous operation under the same licence isn’t common in this industry, and it indicates real operational stability. Being available on PickMeALoan means you can see their offer alongside competitors before committing to a visit.
Read our full Best Licensed Moneylender review
4. Singa Credit: longest operating
Singa Credit
Longest OperatingSinga Credit has been operating since 1992, making them the longest-running provider in this guide by a significant margin. Thirty-three years of continuous operation through multiple economic cycles (the Asian financial crisis, SARS, COVID) speaks to genuine resilience and consistent compliance.
They offer 9 loan types with rates advertised from 1% per month, and they’ve received the Singapore Outstanding Enterprise award. Their Bugis location is centrally located near Bugis MRT, and they’re open on weekends (Sat-Sun 11am to 3pm), though with shorter hours than weekdays. Their review count is lower than some competitors, but the 4.9-star rating and decades of track record carry weight. Compare their offer on PickMeALoan to see how their rates stack up for your specific profile.
Read our full Singa Credit review
5. Credit Xtra: best for SME micro loans
Credit Xtra
Best for SME Micro LoansCredit Xtra has carved out a niche in SME micro loans, which makes them a good fit for small business owners who need smaller amounts with faster turnarounds than a bank can offer. Their 5.0-star rating across 337 reviews suggests consistent execution, and the Chinatown location is accessible by MRT.
For SME owners comparing options, you can see Credit Xtra’s offer against SGP Credit and other providers on PickMeALoan in a single application. That’s particularly useful for micro loans where saving even half a percent on fees makes a real difference to cash flow.
Read our full Credit Xtra review
6. 1-2 Lend: lowest admin fee
1-2 Lend
Lowest Admin Fee1-2 Lend’s standout claim is the lowest admin fee in the market at 3.5% flat. Admin fees are often overlooked when borrowers compare providers (they focus on the monthly interest rate), but a high admin fee can add hundreds of dollars to your total cost. At 3.5% flat, 1-2 Lend sits below the 5-10% that some competitors charge.
They’ve been operating since 2018 and have built up a 4.9-star rating across 234 reviews from their Chinatown branch. They’re a newer operation compared to some names on this list, but the fee structure makes them worth comparing. You can see exactly how their total cost stacks up against other lenders by comparing on PickMeALoan.
Why these six are listed first. The providers above are PickMeALoan aligned partners. Apply once via Singpass, get multiple offers via WhatsApp, and see who gives you the best rate within the regulated cap. Because PickMeALoan runs on AI instead of a human sales floor, we don’t load costs onto our partner lenders, so borrowers aren’t squeezed either.
Other top-rated providers
7. Lending Bee: most reviewed
Lending Bee
Most ReviewedLending Bee has the highest review volume of any licensed loan provider in Singapore. Maintaining a perfect 5.0-star average across nearly 10,000 reviews is genuinely difficult. They were one of six firms selected for the Ministry of Law’s pilot scheme, and they operate four branches covering north, south, east, and west Singapore, all open on Sundays.
Read our full Lending Bee review
8. Cash Direct: best for weekends
Cash Direct
Best for WeekendsCash Direct has disbursed roughly $92 million and offers 11 loan types including niche products for Grab and Gojek drivers. Their key differentiator is Sunday hours (11am to 4:30pm) combined with strong review quality and Singpass integration.
Read our full Cash Direct review
9. Soon Seng Credit: best for rate transparency
Soon Seng Credit
Best for RatesSoon Seng Credit does something rare in this industry: they publish their rate ranges (personal loans 2.5 to 4% per month, business loans 4 to 8%). They’re an established operator with roughly 8,500 customers and $44 million disbursed, open on Sundays until 4:30pm.
Read our full Soon Seng Credit review
10. Crawfort: fastest approvals
Crawfort
Fastest ApprovalsCrawfort uses algorithm-based approvals and advertises 8-minute processing. They’ve been operating since 2011, claim over 200,000 loans processed, and their City Hall location is convenient for CBD workers. One consideration: Crawfort received a PDPC enforcement decision related to data security, which is a matter of public record.
Also reviewed
These providers met our licensing and legitimacy standards but ranked lower due to smaller review volumes, narrower product ranges, or specific limitations:
- BST Credit: 4.9 stars, 2,282 reviews, Jurong East. Good heartland option with 11,000+ customers since 2010 and staff praised for patience.
- Quick Credit: 5.0 stars, 2,001 reviews, Jurong East (IMM Building). Open 7 days a week, 30-minute approval guarantee, operating since 2001.
- OT Credit: 4.9 stars, 607 reviews, Jurong East. Named staff praised in reviews for clear explanations and flexible scheduling.
- Jefflee Credit: 4.8 stars, 399 reviews, Jurong East. Good for delivery and private-hire driver loans. Some reviews mention inconsistent service.
- Finance Buddy (Phillip Credit): 4.7 stars, 3 reviews, CBD. Backed by PhillipCapital for secured lending against investment assets. Not suitable for typical personal loan borrowers.
What every licensed loan provider in Singapore must follow
What every licensed loan provider must follow
- Interest rate cap: 4% per month maximum
- Late interest cap: 4% per month on overdue amounts only
- Late fee cap: $60 per month
- Borrowing limits tied to annual income (set by the Moneylenders Act)
- Full disclosure of all charges before the loan is signed
- No retention of borrower’s NRIC, ATM card, or Singpass
- Debt collection governed by the Ministry of Law’s Code of Ethics
These apply to every licensed provider in Singapore. Verify any provider at rom.mlaw.gov.sg.
If any provider breaches these rules, report them to the Registry of Moneylenders. These regulations exist specifically to protect borrowers, and providers who violate them risk losing their licence.
When a bank loan is the better choice
Licensed loan providers fill a real gap in the market, but they aren’t the cheapest option. If you qualify for a bank personal loan, the rates are substantially lower:
| Bank Personal Loan | Licensed Loan Provider | |
|---|---|---|
| Interest rate | 1.9-9% EIR per annum | 1-4% per month (12-48% annualised) |
| Minimum income | $20,000-$30,000/year | No minimum (caps apply) |
| Approval speed | 1-5 business days | Same day (often under 1 hour) |
| Credit requirement | Good credit history | More flexible |
| Foreigner eligibility | Mostly EP holders only | EP, S Pass, Work Permit |
If you earn above $20,000 per year and have decent credit, try bank offers first. Our personal loan comparison page covers 10 banks and digital lenders with current rates. If the banks decline you, or you need money within 24 hours, a licensed provider is the fallback.
How to compare offers without visiting every branch
Walking into five different lender offices to compare rates isn’t practical. The fastest way to see what you actually qualify for is to compare on PickMeALoan. One Singpass application, multiple offers from licensed providers, delivered to your WhatsApp. You’ll see the rates, fees, and terms side by side so you can pick the best deal within the regulated 4%/month cap.
Apply on PickMeALoan
One application, under 2 minutes via Singpass. We match your profile against licensed providers and banks.
Get matched by AI
Our system identifies which providers and banks are most likely to approve you at the best rate for your profile.
Receive offers in WhatsApp
No portals, no logins. Personalised offers arrive directly in WhatsApp. You see the rate, amount, and terms upfront.
Compare and choose
Pick the offer that fits. We set up the appointment. Providers don’t get your contact details to cold-call you.
Before you borrow: what to watch for
More resources
- Compare Personal Loans in Singapore: side-by-side rates from banks and licensed providers
- Licensed Moneylenders Directory: full directory of licensed providers
- Foreigner Personal Loans: options for EP, S Pass, and Work Permit holders
- How PickMeALoan Works: how the AI matching and rate comparison works
- Why Loans Get Declined: common reasons and how to improve your chances
- Borrow Money in Singapore: complete guide to all borrowing options
By Daniel Koh, Personal Finance Expert at PickMeALoan.
