Best Licensed Moneylender says it has lent in Singapore since 2004 and advertises a starting rate of 1.01% per month. A starting rate is not a personal quote. The written offer shows what you pay and how much cash you receive after any fee.
Because Best Licensed Moneylender participates in PickMeALoan, one application can request its offer alongside other participating licensed lenders. Compare personal loan options through PickMeALoan, then compare the same amount and repayment period for cash received, fees, instalments and total repayment. PickMeALoan is a commercial comparison and application platform, not the lender, and offers remain subject to each lender’s assessment.
Interest rates and fees
Best Licensed Moneylender publishes a starting rate rather than a rate for every borrower. Its legal-loans page advertises rates as low as 1.01% per month (12.12% p.a.), subject to assessment.
Cost at a glance
Advertised starting rate
From1.01%/ month
- Published figure
- As low as 1.01% per month (12.12% p.a.), subject to assessment, on its legal-loans page checked 10 September 2026
- What it is not
- A rate for your profile; the legal maximum is 4% per month on outstanding principal
Fees
Not published
- Published schedule
- No fee schedule appears in the public pages we checked
- Legal maximum
- Upfront fee up to 10% of principal; late fee up to S$60 for each month of late repayment
- PickMeALoan directory
Displayed figure: From 1.01% per month in PickMeALoan's licensed-lender directory on 10 September 2026
Earlier range: Earlier research recorded a stated 1–4% per month range; the top of that range is the legal cap
- Early repayment
Company statement: Best Licensed Moneylender says early-repayment discounts are available
Ask for: The discount terms, EIR, instalments and total repayment in writing
The from-1.01% figure is an advertised starting rate, not a personal quote. Your written offer sets the actual rate, fees and schedule.
Every licensed moneylender is capped at 4% per month, so a starting figure only helps if you qualify for it. The Ministry of Law borrower guide also caps the upfront fee at 10% of principal and the late fee at S$60 for each month of late repayment, and total interest, late interest and fees cannot exceed the loan principal. These are legal maxima, not typical charges.
Compare with participating lenders
Best Licensed Moneylender is one of five PickMeALoan participating lenders, with Credit Xtra, EZ Loan, SGP Credit and Singa Credit. Offers remain subject to each lender’s assessment.
Best Licensed Moneylender
ReviewedOn PickMeALoan
From1.01%/ month
Credit Xtra
On PickMeALoan
From3.00%/ month
Lender site says up to 4%
EZ Loan
On PickMeALoan
From0.82%/ month
Eligible applicants only
SGP Credit
On PickMeALoan
From3.92%/ month
Singa Credit
On PickMeALoan
From2.00%/ month
Lender site says as low as 1%
Advertised starting rates or published ranges, not quotes: each lender sets your rate, fees and approval after assessment. Participating lenders' figures were checked on 10 September 2026. Best Licensed Moneylender is listed first, then the others alphabetically.
Sources: PickMeALoan licensed-lender directory · Credit Xtra homepage · EZ Loan public page · Singa Credit homepage
One application. PickMeALoan is a commercial comparison platform, not a lender.
Read our reviews of Credit Xtra, EZ Loan, SGP Credit and Singa Credit, then compare personal loan options through PickMeALoan using the same amount and repayment period.
Strengths and limitations
Strengths
- Licence 48/2026 and a central office at Golden Beach Vista, near Bugis and City Hall MRT
- Advertises a starting rate as low as 1.01% per month, subject to assessment
- Singpass MyInfo application the lender says takes about 3 minutes
- Says it has operated since 2004 and offers early-repayment discounts
- PickMeALoan participating lender, so its offer can be compared in one application
Limitations
- The from-1.01% figure is a starting rate; your rate depends on assessment
- No fee schedule appears in the public pages we checked
- Timing claims vary: under 10 minutes for in-principle approval, 46 minutes on average to disbursement
- Face-to-face verification at the office is still required
Best Licensed Moneylender had 818 Google reviews when recorded in May 2026, and its company figures of 32,000+ customers and 500,000+ loans are its own claims. Neither tells you what your loan will cost. The practical strengths are a published starting rate, a Singpass form and a central office. The decision still turns on the written offer.
Loan products and eligibility
Best Licensed Moneylender lists these loan types:
- Personal Loans
- General-purpose unsecured loans for Singaporeans, PRs, and foreigners
- Payday Loans
- Short-term salary advance loans for immediate cash needs
- Foreigner Loans
- Dedicated product for Employment Pass, S Pass, and Work Permit holders
- Emergency Loans
- Fast-track loans for urgent needs; approval and timing depend on assessment
Best Licensed Moneylender says it serves Singapore citizens, PRs and foreigners with valid work passes. That is not an approval rule, so ask which documents apply to your loan.
For unsecured loans, the Ministry of Law borrower guide sets the total maximum amount you may borrow at any time across all licensed moneylenders in Singapore:
Unsecured borrowing caps across all licensed moneylenders
Singapore citizens and PRs
Annual income and total cap
- Less than S$10,000
- S$3,000
- At least S$10,000 and less than S$20,000
- S$3,000
- At least S$20,000
- Six times monthly income
Foreigners residing in Singapore
Annual income and total cap
- Less than S$10,000
- S$500
- At least S$10,000 and less than S$20,000
- S$3,000
- At least S$20,000
- Six times monthly income
These legal ceilings apply across all licensed moneylenders. They are not a guaranteed Best Licensed Moneylender amount or approval. See the Ministry of Law borrower guide.
Application process
You can apply on Best Licensed Moneylender’s site with Singpass MyInfo, or request its offer through a PickMeALoan application. The Ministry of Law Registry requires licensed moneylenders to verify your identity face to face at an approved place of business before granting a loan, so funds follow the office visit.
From Singpass application to office verification
Apply online
Best Licensed Moneylender offers a Singpass MyInfo form it says takes about three minutes, or you can request its offer through PickMeALoan.
Read the timing carefully
Its legal-loans page describes in-principle approval in under 10 minutes during business hours, and earlier copy cited a 46-minute average to disbursement; neither is a promise.
Complete the office step
Funds follow face-to-face verification and signing at Golden Beach Vista, paid in cash or by PayNow.
The signed agreement sets the repayment schedule. Confirm office hours before visiting.
Who it may suit
Borrowers who may qualify for a lower starting rate
It advertises rates as low as 1.01% per month, subject to assessment, so it is worth including in a comparison.
Borrowers who want to start online
The Singpass MyInfo form pre-fills details; the office visit for identity verification is still required.
Borrowers near Bugis or City Hall
The North Bridge Road office is convenient if you are already in the area for the in-person step.
Borrowers who may repay early
It says early-repayment discounts are available; ask how they are calculated before signing.
Branch details
Visit details
Bugis- Nearest MRT
- Bugis MRT / City Hall MRT · 3-5 min walk
- Licence
- 48/2026
The office is between Bugis and City Hall MRT. Confirm the current contact details and opening hours on Best Licensed Moneylender’s website before travelling. For wider context, read how to borrow money in Singapore.
Before accepting an offer
Five checks before accepting an offer
- Verify licence 48/2026 and 13 North Bridge Road, #01-3984 Golden Beach Vista on the current Ministry of Law list.
- Ask whether you qualify for the advertised from-1.01% rate, and get your actual rate and EIR in writing.
- Confirm any administrative fee, the cash or PayNow amount, instalments and total repayment.
- Ask how the early-repayment discount is calculated before relying on it.
- Keep the Note of Contract and receipts, and do not disclose your Singpass password or pay an advance fee to an unsolicited contact.
Best Licensed Moneylender’s starting rate is a reason to request its offer, not proof that it will be the right loan. Compare its written offer with other participating lenders’ offers for the same amount and repayment period. If the repayment would leave too little for rent, food, utilities, transport or existing debts, pause and consider non-loan assistance or debt counselling first.
