Personal Loan for Self-Employed in Singapore: Documents, Eligibility and Application Tips
Being self-employed offers flexibility and independence, but irregular income can make applying for financing more complicated. Unlike salaried employees, self-employed individuals may not receive fixed monthly payslips or regular employer CPF contributions. Their income might fluctuate according to customer payments, completed projects, commissions or seasonal demand. This does not mean they cannot apply for financing. […]
New Licensed Moneylender Rules Singapore 2026: Three-Day Cooling-Off Period Explained
Singapore is introducing additional protection for borrowers who take unsecured loans from licensed moneylenders. From 15 September 2026, eligible borrowers will have a mandatory cooling-off period of three business days. During this period, a borrower may cancel a qualifying loan at a reduced cost if they reconsider their decision. The new licensed moneylender rules in […]
Licensed Moneylender Interest Rate Singapore: How Much Can You Be Charged?
When comparing loans, the advertised interest rate is only one part of the total cost. You must also understand how interest is calculated, what administrative fees apply and how late payments could increase the amount you owe. In Singapore, licensed moneylenders are regulated by the Ministry of Law. The law limits the interest and fees […]
MLCB Report Singapore: What Licensed Moneylenders See Before Approving a Loan
When you apply for a loan from a licensed moneylender in Singapore, your salary and supporting documents are not the only information considered. The lender may also review your Moneylenders Credit Bureau Loan Information Report, commonly known as an MLCB report. The report provides information about your borrowing and repayment records with licensed moneylenders. It […]