About Money Lending Services in Singapore

1. How does licensed moneylending work in Singapore?

Licensed moneylenders in Singapore are regulated by the Registry of Moneylenders under the Ministry of Law and must adhere to strict rules on interest rates, fees, and lending conduct. ABM Creditz operates under Moneylender Licence No. 46/2026.

2. Why choose ABM Creditz as a licensed moneylender in Singapore?

• Accredited Lender — We are registered and licensed with the relevant governing body that oversees this industry in Singapore. We are well informed and uphold superior regulatory compliance.
• Streamlined Technology — We utilise Singpass MyInfo and a proprietary mobile app for faster, secure, and paperless loan processing.
• Variety of Flexible Loans — We offer custom packages to customers with the intention of creating the best win-win solution for both the borrower and our company.

3. What are the differences between a bank and a licensed moneylender in Singapore?

The maximum loan amount for unsecured loans in Singapore is regulated by the Ministry of Law and depends on your annual income:

Reference: Ministry of Law (Registry of Moneylenders), Singapore. These limits apply across all licensed moneylenders combined, not per individual lender.

In the event that you are looking to manage multiple debts, you can also consider a debt consolidation plan in Singapore.

4. Am I eligible for a personal loan with ABM Creditz?

The required documents may vary depending on your profile:

For Singaporeans / PRs:

• NRIC (identity verification)
• Proof of income (CPF statement or bank statements)

For Foreigners:

• Valid work pass (Work Permit / S Pass / Employment Pass)
• Proof of residence (e.g. utility bill or tenancy agreement)
• Proof of income (payslips or bank statements)

If you apply using Singpass, some information can be retrieved automatically, allowing you to complete your online loan application more quickly with a simplified verification process.

5. What are the legal rates and fees that are chargeable on my loan?

Licensed moneylenders in Singapore must follow strict caps set by the Ministry of Law:

• Interest Rate: Up to 4% per month on the outstanding principal.
• Late Interest: Up to 4% per month on the overdue amount only.
• Late Fee: Up to S$60 per month.
• Administrative Fee: Up to 10% of the principal (charged once upon loan approval).

The total cost of the loan (excluding principal) cannot exceed 100% of the loan amount.

6. Do I need to physically be at ABM Creditz to get my loan?

Under the Moneylenders Act, it is a legal requirement to have a face-to-face meeting at the lender’s registered office.

• Security: This prevents identity theft and ensures your personal data remains secure.
• Legal Compliance: Our officers must explain the contract terms in a language you understand before you sign.

7. What are the repayment schemes offered, and how can I keep track of payments made?

We provide structured repayment options designed to help you manage your loan clearly and consistently.

• Monthly Instalments: Repay your loan through fixed monthly instalments aligned with your income cycle.
• Digital Payment Modes: Make repayments conveniently via bank transfer or PayNow through your preferred banking platform.
• Payment Reminders: Our staff will follow up closer to your repayment window to remind and inform you of the remaining balance and upcoming payments.

You can also use our loan repayment calculator to estimate your monthly instalments before applying.

8. Will I be penalised for early repayment or clearance of my loan?

ABM Creditz does not charge penalties for early repayment.

• Pro-rated Interest: You only pay interest for the time you actually use the funds.
• Cost Savings: Settling early helps you save on total interest costs and rebuild your credit faster.

9. How do I verify if a licensed moneylender is really what they claim to be?

To verify whether a moneylender is licensed in Singapore:

• Check the official Registry of Moneylenders on the Ministry of Law website.
• Confirm the company name and licence number match the listing.
• Ensure the loan is processed at a registered business address.

Important: Licensed moneylenders will not contact you through unsolicited SMS, WhatsApp, or social media.

Still have questions?

Visit us at 1 Park Road, People’s Park Complex, #01-12, Singapore 059108

Call us at +65 6737 3392

Email us at hello@abmcreditz.com.sg