Power Credit Enterprise Pte Ltd is a licensed moneylender in Singapore regulated by the Ministry of Law. We have been offering personal loans, business loans, and debt consolidation loans from our Tanjong Pagar office since 2007. Apply via Singpass MyInfo in under 2 minutes. In-person verification at our registered office is required before any loan is disbursed.
When it comes to borrowing money, choosing a licensed moneylender like Power Credit Enterprise Pte Ltd offers several advantages:
Licensed moneylenders in Singapore operate under strict regulations set by the Ministry of Law. This ensures that your rights as a borrower are protected, and you're safeguarded against unfair practices.
With Power Credit, you can expect clear and upfront information about interest rates, repayment terms, and any associated fees. There are no hidden charges or surprises.
Under the Moneylenders Act 2008, interest is capped at 4% per month on the outstanding balance using the reducing balance method. The admin fee is capped at 10% of the principal, charged once. Late payment fee is capped at SGD 60 per month. Total charges cannot exceed the principal amount.
Our team of experienced financial advisors is committed to providing you with personalized service and guidance throughout the loan process.
Unlike traditional banks, licensed moneylenders like Power Credit can often process loan applications more quickly, providing you with faster access to funds when you need them most.
At Power Credit Enterprise Pte Ltd, we offer a variety of loan products designed to cater to different financial situations:
Whether you need to cover medical expenses, fund home renovations, or manage unexpected bills, our personal loans provide the flexibility you need. With competitive interest rates and flexible repayment terms, we can help you find a solution that fits your budget.
For entrepreneurs and small business owners, access to capital can make all the difference. Our business loans are designed to help you seize growth opportunities, manage cash flow, or invest in new equipment. We understand the unique challenges faced by businesses in Singapore and offer tailored solutions to support your success.
If you’re juggling multiple debts with high interest rates, our debt consolidation loans can help you simplify your finances. By combining your existing debts into one loan with one fixed monthly repayment, you simplify your obligations. Unlike bank Debt Consolidation Plans, Power Credit accepts borrowers with outstanding moneylender debt.
Sometimes you just need a quick financial boost to bridge a temporary gap. Our short-term loans offer a fast and convenient way to access funds for immediate needs, with the flexibility to repay over a shorter period which reducing the cost of interest.
What sets Power Credit Enterprise Pte Ltd apart from other licensed moneylenders in Singapore?
With years of experience in the Singapore money lending industry, we have a deep understanding of local regulations and borrower needs.
We believe in building long-term relationships with our clients. Our team takes the time to understand your financial situation and goals, offering personalized advice and solutions.
All fees are set by the Ministry of Law under the Moneylenders Act 2008. Interest is capped at 4% per month on the outstanding balance. Admin fee is capped at 10% of principal. Late fee is capped at SGD 60 per month.
We understand that everyone's financial situation is unique. That's why we offer flexible repayment plans that can be tailored to your income and budget.
We respect your privacy and ensure that all your financial information is kept strictly confidential.
As a licensed moneylender, we adhere to the highest ethical standards in all our dealings and loan services, providing you with peace of mind.
Applying for a loan with Power Credit Enterprise Pte Ltd is simple and straightforward:
At Power Credit Enterprise Pte Ltd, we encourage responsible borrowing. We’re committed to helping you make informed financial decisions that improve your financial well-being. Our team is always available to discuss your options and help you understand the implications of taking on a loan.
Apply via Singpass MyInfo at xpressloan.com.sg in under 2 minutes. Our loan officers will contact you the same day during office hours. Visit us at 1 Tras Link #01-11 Orchid Hotel Singapore 078867, 100m from Tanjong Pagar MRT Exit A. If you do not qualify, we will tell you before you make the trip. Call +65 6443 2940. Monday to Friday 11am to 7pm. Saturday 11am to 6pm.
Remember, when it comes to your financial future, choose a licensed moneylender you can trust. Choose Power Credit Enterprise Pte Ltd – your trusted partner in loan services and financial empowerment.
A licensed moneylender in Singapore is a company registered and regulated by the Ministry of Law under the Moneylenders Act 2008. They must follow strict rules on fees, borrowing limits, and borrower rights. You can verify any licensed moneylender at rom.mlaw.gov.sg.
For Singapore citizens and PRs earning SGD 20,000 or more annually, the limit is up to 6 times your monthly income. For those earning below SGD 20,000, the cap is SGD 3,000. Foreigners with a valid work pass earning SGD 20,000 or more can borrow up to 6 times monthly income. Those earning below SGD 10,000 are capped at SGD 500. These limits apply to your total outstanding balance across all licensed moneylenders, not per lender.
Under the Moneylenders Act 2008, only four fees are permitted. Interest is capped at 4% per month on the outstanding balance using the reducing balance method. Admin fee is capped at 10% of principal, charged once. Late payment fee is capped at SGD 60 per month. Total charges cannot exceed the principal amount. No other fees are permitted.
A licensed moneylender appears on the Ministry of Law registry at rom.mlaw.gov.sg, operates from a registered physical office, charges only legally capped fees, and must verify your identity in person before disbursing any loan. A loan shark is unlicensed, charges unlimited interest, and often uses harassment and intimidation.
Apply via Singpass MyInfo at xpressloan.com.sg in under 2 minutes. Our loan officers will review your application and contact you the same day during office hours. You then visit our office at 1 Tras Link #01-11 Orchid Hotel Singapore 078867 for mandatory in-person identity verification before funds are disbursed.
No. Licensed moneylender loan activity is recorded on the MLCB, which is completely separate from the CBS used by banks and HDB. Your CBS score is unaffected by any loan from a licensed moneylender. A bank rejection does not automatically disqualify you from borrowing at Power Credit.
