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Apply NowToday’s moneylender interest rate trends in Singapore – As of Thursday, January 15th, 2026, moneylenders in Singapore are charging an average monthly interest rate of 3.98%
118 Credit provides a variety of loan products tailored to meet the financial needs of individuals and businesses. Whether you’re dealing with unexpected expenses, planning a significant purchase or managing cash flow for your business, 118 Credit provides a range of options to help you meet your financial goals.
The licensed moneylender provides 24-hour online loan application services so you can apply for a loan at any time, from anywhere in Singapore. Additionally, you can use Singpass Myinfo to automatically fill in your application form with data from various government departments. This makes the process secure, fast and easy.
All moneylenders listed below are authorised to operate legally in Singapore under the Moneylenders Act. They adhere to strict regulations set by the Ministry of Law including caps on interest rates, fees and ethical lending practices. Always verify a moneylender's license on the Ministry of Law's official website before proceeding with any loan application.
*Today's Moneylenders Rates - 15 January 2026
To apply for a loan with 118 Credit, applicants need to meet the following criteria:
Start your loan application journey with our quick online application multistep form—it takes just 30 seconds to complete. Our advanced technology and expert loan specialists work together to match you with suitable options on our platform
Provide the necessary documents: your last 3 pay slips, a credit report from CBS or MLCB, and your IC/FIN details. Upload these files through your dashboard or email them to [email protected]
Our dedicated customer success team will carefully examine your application, contacting you if any additional information is required. Once we’ve verified your details, we’ll begin the process of matching you with appropriate lenders and loan options.
Compare loan offers in real-time through your application dashboard. Our customer success team is available to discuss loan details.
After you’ve selected a loan option, we’ll assist in arranging an appointment with the chosen moneylender. Note that for moneylender options, assessment and disbursement must be completed in person at their branch.
Once you’ve agreed on the loan terms and signed the contract, you’ll receive a copy of the agreement. This document will outline your monthly payment schedule. Your funds will then be disbursed either in cash or via bank transfer.
Get your loan application approved online in as fast as one hour. You no longer need to wait for weeks since 118 Credit provides a fast and efficient approval process.
The application is simple with only a short form to fill out and few documents to submit. Borrowers only need to provide basic identification details together with proof of income. The process is straightforward which makes it much easier compared to traditional banks.
118 Credit is an approved moneylender in Singapore operating under the regulation of the Ministry of Law. Every loan is issued in full compliance with legal standards to maintain fairness and transparency throughout the borrowing process.
The company offers attractive loan rates among the most competitive in Singapore. This helps borrowers manage financial challenges more comfortably without facing heavy interest burdens.
Customers can submit their loan requests at any time through the 24-hour online application system. With Singpass Myinfo integrated, the process becomes both fast and secure ensuring a smooth borrowing experience from start to finish.
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