Registry of Moneylenders Singapore: What Borrowers Must Know

Key Takeaways

• The Registry of Moneylenders is the official Ministry of Law reference for verifying licensed money lenders in Singapore.
• Checking the registry should always be the first step before taking out any loan.
• Only licensed money lenders listed in the registry operate legal moneylending businesses under the Moneylenders Act.
• The registry helps protect borrowers by regulating the interest rates, fees, and debt recovery practices of legal money lenders in Singapore.
• Borrowers can verify a lender’s licence number, business address, and licence status through the registry.
• If a lender is not listed, it is a strong warning sign of illegal moneylending activity.
• Borrowing from a legal money lender in Singapore ensures transparency, fair terms, and legal protection.
• Reviewing verified customer feedback further helps borrowers make safe and confident loan decisions.

When borrowing money in Singapore, verifying a lender’s legitimacy should always be your first step. The Registry of Moneylenders is the official reference that allows borrowers to confirm whether a lender is legally licensed to operate in Singapore. By checking the registry before taking out a loan, borrowers can reduce the risk of dealing with illegal lenders who may impose unlawful interest rates, hidden fees, or abusive loan recovery practices. Understanding how the Registry of Moneylenders works is essential for safe and responsible borrowing.

What Is the Registry of Moneylenders?

Singapore’s Ministry of Law oversees the Registry of Moneylenders, which is the sole regulatory body responsible for licensing, governing and overseeing the conduct of all legal money lenders in Singapore.

The official list of licensed money lenders permitted to operate in Singapore is publicly available on the Registry of Moneylenders’ website. Only lenders that meet regulatory and compliance requirements under the Moneylenders Act are included, allowing borrowers to verify a lender’s licence status before entering into any loan agreement.

Why the Registry of Moneylenders Exists in Singapore

The registry exists to maintain fairness, accountability, and transparency within Singapore’s moneylending industry. Without proper regulation, borrowers may be exposed to unethical practices such as excessive interest charges, unclear loan terms, or harassment during debt recovery.

Through licensing and enforcement, the registry helps to:

• Prevent illegal moneylending activities
• Regulate interest rates, fees, and recovery conduct
• Hold licensed money lenders accountable to legal standards

By enforcing strict entry and operating requirements of the lending industry, the registry ensures that every legal money lender in Singapore adheres to established rules. For a broader understanding of how licensed lenders operate within this framework, borrowers can refer to our guide on choosing reliable licensed money lenders.

What Information Is Listed in the Registry of Moneylenders?

The Registry of Moneylenders in Singapore provides a comprehensive, regularly updated list of licensed money lenders for borrowers to verify a lender’s authenticity. Key details listed include:

• Licensed money lender name and licence number
  Each licensed lender is assigned an official licence number, allowing borrowers to confirm that the lender is legally authorised.
• Approved business address and contact details
  Only registered business addresses and official contact information are permitted, reducing the likelihood of scams or impersonation.
• Licence validity status
  Borrowers can check whether a licence is currently valid or suspended before proceeding with a loan.

This transparency makes it easier to identify a legal money lender Singapore residents can safely engage with.

That’s not all. The Registry of Moneylenders website also contains an extensive FAQ page on borrowing from licensed lenders.

How to Use the Registry to Verify a Legal Money Lender in Singapore

Before accepting any loan offer, borrowers should always cross-check information with the official list of licensed money lenders published by the Ministry of Law. This list is updated regularly to reflect changes in licensing status.

Steps to check a lender:

1. Visit the official Registry of Moneylenders website
2. Download the latest licensed moneylender list
3. Search for the lender’s name and licence number
4. Confirm that the business address and contact number matches the lender’s provided details
5. To be doubly sure, visit the lender’s office and ensure all information tallies with that published by the Registry of Moneylenders

What the Registry of Moneylenders Does Not Do

While the Registry of Moneylenders in Singapore plays a critical regulatory role, it has defined limitations. The registry does not:

• Approve or reject individual loan applications
• Resolve disputes between borrowers and lenders
• Offer personalised financial advice

Borrowers who require tailored recommendations or advice should seek professional guidance, such as by contacting our friendly staff at Cash Direct.

Borrower Protections Enforced by the Registry

Through enforcement of the Moneylenders Act, the registry ensures multiple borrower protections, including:

• Caps on interest rates
• Limits on fees
• Mandatory disclosure of loan terms
• Penalties for non-compliant lenders

These measures ensure that every legal money lender Singapore borrowers deal with operates fairly and transparently.

What to Do if a Money Lender Is Not Listed in the Registry

If a lender does not appear in the Registry of Moneylenders, it is a clear warning sign. Borrowers should:

• Avoid sharing personal or financial information
• Decline to sign contracts or accept funds
• Report the activity immediately
• Cease contact with this supposed money lender

How the Registry Helps You Borrow Responsibly

By providing accurate and centralised information, the registry enables borrowers to make informed decisions. It encourages responsible borrowing by promoting awareness of permitted loan terms, realistic repayment planning, and proper comparison of licensed options.

Why Borrow From a Legal Money Lender in Singapore?

Borrowing from a licensed lender offers reassurance and legal protection. Key benefits include:

• Compliance with registry and legal requirements
• Transparent loan terms and written contracts
• Regulated and ethical debt recovery practices

Final Thoughts on the Registry of Moneylenders

The Registry of Moneylenders should always be the first checkpoint before committing to any alternative, legitimate loan solution in Singapore. It allows borrowers to confirm whether a lender is licensed and operating in compliance with the law.

By consulting the registry and understanding borrower protections, you significantly reduce the risk of dealing with illegal lenders. Reviewing verified customer feedback can also provide additional reassurance, such as reviews from customers of a trusted lender like Cash Direct.

Protect yourself from illegal lenders — verify the lender’s licence, check for genuine customer reviews, and borrow confidently with an established money lender like Cash Direct.