Whether an unexpected expense throws you a sudden challenge or a long-awaited dream suddenly feels within reach, Crawfort, a trusted legal lender in Singapore, is here to empower your financial journey.
It only takes 8 minutes to get your loan application approved. But, it is just not about speed, we are here to make life easier, so you can focus on what truly matters.
Our plans are tailored to your needs. So you can worry less and enjoy more. These are our commitments to you.
As one of the most trusted personal loan providers in Singapore, we have disbursed more than 200,000 loans since 2011. We have won an award from Singapore’s Prestige Brand Awards 2019, and will continue to provide high-quality service and care for our customers.
Every step of our loan process is tailored to your convenience. We have digitalised everything from application to credit scoring to payment. Repayments are even simpler. Just pay through any SAM/AXS machines and you’re good to go.
Privacy protection is our top priority. Our servers are encrypted with state-of-the-art technology. You’ll never have to worry about us divulging your information to anyone.
In times of financial need, licensed money lenders in Singapore can be an ideal option. They provide a fast, easy, and secure way of borrowing money in case you have unexpected expenses or any financial goals.
Here are the main reasons how a licensed lender can help you:
A licensed money lender provides quick and easy application processes, which is ideal for sudden emergencies. It only takes minutes to finish the application, Also, at Crawfort, it only takes 8 minutes to approve your application.
Therefore, disbursing of funds considerably faster; sometimes you may even get the funds that you need on the same day that you have applied.
A legal private money lender offers a variety of loan products tailored to address different financial needs.
Whether it’s for a short term or long-term needs, lenders offer a wide range of loan options from quick loans, payday loans, loans for medical bills, study loans, wedding loans, travel loans, Grab/Gojek/Taxi loans to any short term loans.
Looking for a loan but worried about your income? Licensed money lenders often provide loan option even to low-income earners.
They understand that financial needs can arise unexpectedly, that is why they designed loan products to cater to individuals across all income levels.
For individuals with low credit scores or limited credit history, obtaining a loan from traditional banks can be challenging.
A licensed money lender is often more willing to consider applicants with less-than-perfect credit. By responsibly repaying a loan from a licensed lender, you can demonstrate your creditworthiness and improve your credit score over time.
Legal lenders value transparency and responsible lending practices. They will clearly explain all loan terms and conditions upfront, including interest rates, fees, and repayment schedules.
Furthermore, they will collaborate with you to ensure that you understand the terms of your loan and can comfortably manage your repayments.
If you’re struggling with multiple debts and high-interest payments, a licensed money lender can help you consolidate them with a debt consolidation loan at a much lower interest rate.
This can simplify your finances, reduce your monthly payments, and make it easier to manage your debt effectively.
In choosing a reliable lender it is important to consider the following steps:
Verify their licence. Confirm the lender’s legitimacy by checking the official list on the Ministry of Law’s website.
Check advertising practices. Legitimate lenders will not use unsolicited messages such as SMS, flyers, emails or social media to offer loans.
Since 1 November 2011, licensed moneylenders in Singapore can only advertise through the following channels:
Any advertising through channels not listed above is prohibited. If you receive loan advertisements through flyers, SMS messages, emails, or any channel other than the allowed directories, websites, or business premises, be cautious. These offers could be from either licensed moneylenders breaking the rules or unlicensed moneylenders operating illegally and could be scams.
Do not respond to such advertisements. Instead, report them to the Registry of Moneylenders:
Understand the fees and interest rates. Be aware that the maximum allowable interest rate is 4% per month.
Also, moneylenders are only allowed to collect the following fees:
Moreover, take note that a money lender may charge interest, late fees, upfront administrative costs, and other charges on a loan, but the total of all these charges cannot be greater than the loan’s original principal amount.
Insist on proper documentation. Reputable lenders will provide transparent loan agreements with all terms clearly outlined. You should always receive a copy of your loan contract and have all terms and conditions explained clearly.
For secured loans, you can obtain a loan of any amount. On the other hand, for unsecured loans, the total maximum amount you may borrow from a licensed moneylender in Singapore is as follows:
| Borrower’s Annual Income | Singapore Citizens and Permanent Residents | Foreigners Residing in Singapore |
| Less than $10,000 | $3,000 | $500 |
| At least $10,000 and less than $20,000 | $3,000 | $500 |
| At least $20,000 | 6 times monthly income | 6 times monthly income |
In Singapore, licensed money lenders can only charge a maximum interest rate of 4% per month on your remaining loan balance. This means the interest you owe is calculated based on what’s left to be repaid, not the principal loan amount.
Before borrowing from a licensed moneylender, make sure to consider the following
The tech-enabled algorithm allows Crawfort to approve your personal loan applications within 8 minutes.
However, the actual time it takes to receive funds may vary depending on individual circumstances and verification processes.
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