One-Click, One-stop Credit Solutions

An awardee of the Pilot Program by the Ministry of Law, Accredit Pte Limited is the new generation of Licensed Money Lender with a sustainable model focused on consumer protection. With branches located island-wide in Singapore, we bring our moneylending services to you.

Our Features

Licensed Money Lender Singapore

Developing innovative digital solutions to make the loan application process as painless as possible, Accredit Money Lender Singapore brings you unparalleled accessibility. You can now apply for  personal loans on-the-go! With branches island-wide all over Singapore, applying for a loan has never been easier.

Highly Rated among money lenders in Singapore

Transparent and no hidden fees, no surprises

Fast Approval for quick and easy loan processing

Our Guarantee

We are a Licensed Money Lender located in Singapore providing responsible credit and loan options since 2002

Our proprietary credit systems makes approval fast and efficient. Get your loans in Singapore NOW without waiting around for approval!

Secure and Confidential

Secured with industry standard HTTPS (TLS1.2) and passed penetration testing, your data is safe with Accredit Money Lender.

Fast Cash

Apply for a loan online anywhere you are and receive them with our same day approval process!

No Hidden Fees

We provide complete upfront transparency about our fees and rates. No nasty surprises for you!

24/7 Support

Reach us any time of the day for service on your existing loan accounts, or to make any new enquiries.

How it works

Just 3 Simple Steps

to get you started on your way to fast cash loans!

Get a Quote

Submit your loan application information online, where ever you are! Get an indicative pricing to have an estimate about the loan repayment terms available

Get Your Approval

Our Credit Systems makes approval a fast and instantaneous process. Our officers will contact you to make an appointment if your application is successful.

Get Your Money

Visit our branch with the necessary documents and get your money immediately! No waiting around and get your cash on the same day.

Licensed Credit Company in Singapore

Experience

Over 17 years of experience, with over 200K cases completed and happy clients.

Satisfaction

Top rated and reviewed on Google with a 5 star average.

Security

Your privacy and security is priority. Rest assured your data is protected

Our Features

Licensed Money Lender Singapore Personal Loan

A personal loan is a loan disbursed on a short term basis for a personal requirement. This facility is available for any qualifying citizen of Singapore with a steady income. You can also apply for a personal loan if you are a foreigner with a valid pass to work and live in Singapore. Accredit Moneylender provides easy personal loan in Singapore with quick approvals and reasonable interest rates. We also enable you to choose an appropriate reimbursement plan for your loan to make the repayment a stress-free and hassle-free process.

Short Term Credit

Funding for your own business venture can be a tedious task. Especially, if you are starting afresh with a zero economic profit margin to fall back on. While you may not be earning a salary out of the new business immediately, you still need to pay your employees and keep the system running. Accredit Money Lender supports such entrepreneurs and provides a comfortable mattress of business loan solutions for our ambitious business owners, especially during tough times. We provide short-term, mid-term and long-term loans based on your needs.

Debt Consolidation

Debt consolidation is a process in which we help you consolidate a new loan in order to repay many smaller unsecured loans and liabilities. This product is helpful if you are unable to clear payday loans, credit card debts or other such smaller liabilities. In this process, we combine all your smaller liabilities and loans into a single loan that can help you clear it with ease. Our experienced loan advisors at Accredit & Legal Money Lender Singapore will be helpful and offer you advice in every step of debt consolidation to make sure it happens smoothly.


Business Financing

Funding for your own business venture can be a tedious task. Especially, if you are starting afresh with a zero economic profit margin to fall back on. While you may not be earning a salary out of the new business immediately, you still need to pay your employees and keep the system running. Accredit Licensed Money Lender supports such entrepreneurs and provides a comfortable mattress of business loan solutions for our ambitious business owners. We provide short-term, mid-term and long-term loans based on your needs.

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your plan?

Tips on how to get out of Debt

There are countless reasons why people in Singapore fail to clear their debts. The most common reason is that people don’t have enough funds at the right time to repay their debts and the amount gets accumulated to become a significant debt. But we will share some amazing hacks with you that will help you get out of your debt this year. Here’s how you need to get started.

List Down All Your Debts

Before actually thinking of how to pay off your debts, you must first make a list of all the debts you have. This is because you want to know exactly how much you owe each creditor. When you can clearly see the amount you owe and the number of people you owe it to, it will help you to design a better strategy to tackle the debts. You may miss out on repaying debts if you don’t have a written list.

Calculate Your Budget and Debt-Income Ratio

Begin by creating a budget showing your income and expenditure for each month. This way, you can allocate your scarce resources more effectively. Designing a budget will also give you an idea about those expenses that you can cut down on or completely get away with.

When you have a budget in place, you must also determine your debt-income ratio. Ideally, the ratio of your debt and income should never exceed 35%. In other words, every month, 35% of your income should go to your debts and it should not go over that. Because anything more than that will disable you from paying all your dues. So, if you intend to take a new loan or credit card, see to it that the installments, along with your past obligations, don’t go over 35%. It is always best to avoid taking any new loan before settling your past repayments.

Be Ready

The significant step towards tackling your debt is by accepting that you have a problem. And to get away from the problem, you will have to sacrifice a bit and put a lot of efforts. Hence, be ready to cut down on your expenses. If you continue living a posh life with all the major expenses, you will have a tough time in tackling your debt. So, start comparing goods and services available in the market and opt for the less expensive ones without compromising on the quality or features. Also, reduce spending on non-essentials like going out and entertainment until you have your finances back in control. These minor steps will leave you with more money in hand at the end of every month, that you can use to pay off your debt amount.

Prioritize Debts with Highest Interest Rate

It is common sense that if you have multiple debts in your name, you should clear the one with the highest interest rate. You must know that now or later, you will have to clear the debts if you want to have a good credit score. Debts with a higher rate of interest will only add up to your pain as you will end up paying more and more every month. If you are unable to clear all your debts at once, leave the ones with the lesser interest rate for later. That way, lesser money will be accumulated that you will have to pay off later.

In most cases, your credit card repayments will have the highest interest rate. Think about clearing it first. Also, try controlling your purchases with the card to avoid higher debt accumulation.

Pay Off Whenever Possible

It is very easy to have extra cash in hand when you get bonuses, incentives, or insurance money. Rather than using this amount for living a luxurious life or buying something big, you can use it to pay off your debts. You can ask your bank or creditor about their terms for early repayments. And as you know, when you get your bonus, pay the debt which has the highest interest first.

In another scenario, if your salary has increased, you can consider paying more every month. You can ask your creditor if it’s possible to make the monthly installments larger so you can pay it off faster and save on the unnecessary interests.

Find out how Accredit can help you!

As you can see, there are several ways to get out of your debt. You need to have the mindset that getting out of debt is simple but not easy, so you cannot afford to slack. So just think smartly, prioritize the debts, do a little cash planning, and you will be able to tackle the debt without worrying much. It is easier than you think! Accredit Licensed Money Lender in Singapore may be able to help you. Find us at any of our branches in Singapore. Rest assured that there are branches that are convenient for you!

Frequently Asked Questions
What are the interest rates moneylenders can charge?

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.


What are the fees that moneylenders can charge?

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.


In the event that I am standing as a surety for a loan, what should I look out for?

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).

What should I do after being granted a loan?
  • 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. 

How do I know whether a money lender is licensed or not?

Do not borrow from unlicensed Singapore moneylenders. Verify that a moneylender is licensed in Singapore 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.

To find out more about unlicensed money lenders in Singapore, you may click on this link: Unlicensed Moneylending

What should I consider before taking up a loan?

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.

Before approaching a moneylender in Singapore, 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.

 You should shop around different moneylenders for the most favourable terms. You should not rush into and commit yourself to a loan until you are satisfied with the terms and conditions.

Accredit Money Lender

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Questions?

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Awarded by Ministry of Law to operate a new Pilot Programme, we have been providing transparent and quality service since 2002.

Contact

Tampines Branch
(+65 6226 2662)
Yishun Branch
(+65 6219 2662)
Hougang Branch
(+65 6245 2662)
Clementi Branch
(+65 6261 2662)

Accredit @ Yishun

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Tampines

Google Reviews

Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Hougang

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Clementi

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm