Licensed Money Lender
Singapore 24/7 Fast Loan
Approved in 8 Minutes

A Reliable Licensed Money Lender, Your Partner in Finding the Right Loan Options for Your Needs

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.

Personal Loan in 3 Simple Steps

Apply With Myinfo
Log in with SingPass and retrieve your information via MyInfo. Your application will be pre-filled automatically.
Check Your Results
We’ll send your results via SMS in the next 8 minutes.
Collect Your Loan
Visit us at our outlet to validate and collect your cash.

Don’t Waste Another Day Worrying

Our plans are tailored to your needs. So you can worry less and enjoy more. These are our commitments to you.

We value your trust

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.

We keep your convenience in mind

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.

We keep your information safe

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.

How A Licensed Money Lender in Singapore Can Help You

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:

Quick and Easy Access to Funds

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.

Flexible Loan Options

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.

Loans Available to All Income Groups

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.

Building or Rebuilding Credit

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.

Providing Transparent and Responsible Lending Practices

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.

Debt Consolidation

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.

What You Need to Know About Licensed Money Lenders in Singapore

Licensed money lenders offer a quick and easy access of funds for individuals seeking financial assistance. However, it’s crucial to understand how they operate and your rights as a borrower before engaging in their services. Here are the things that you need to know before taking a loan from a legal lender:

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:

  • Business or consumer directories: This includes both print and online directories.
  • Registered website: Moneylenders can advertise on websites they own and operate or the one that is found under list of licensed moneylenders.
  • Within business premises: Advertisements can be placed inside or on the exterior of their business premises.

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:

  • A maximum fee of $60 for each month of late repayment.
  • A one-time administrative fee not exceeding 10% of the principal loan amount upon loan disbursement.
  • Legal costs awarded by the court in the event the moneylender successfully pursues legal action to recover the loan.

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

  • Determine your financial needs. Calculate the exact amount you require, so you borrow only what is necessary and avoid accumulating unnecessary debt.
  • Assess your financial capacity. Evaluate your income and existing financial obligations to determine if you can comfortably manage the loan repayments.
  • Thoroughly understand the loan terms. Carefully review the contract and ensure you fully comprehend all terms and conditions, as you are legally bound to fulfil them.
  • Be aware of late payment consequences. Understand that late repayments will incur additional fees and interest charges. In the event of late repayment, the money lender is authorised to impose a late interest not exceeding 4% per month, calculated solely on the overdue portion of your loan. Importantly, this late interest is not applied to the total outstanding balance of your loan.
  • Ask for clarification. Don’t hesitate to seek clarification from the lender on any terms you don’t understand, especially regarding the repayment schedule, interest rates, and fees.

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.

Licensed Money Lenders in Singapore

Ready to take up a personal loan? Create a wiser decision, learn more about personal loan options

Taking a personal loan in Singapore can help you to achieve your goals. It is also an ideal solution for your immediate need for cash. But, if this is your first time to take a personal loan, it is essential to get guided.

8 Minutes is All You Need

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