Licensed Moneylenders in Ubi

Foreigners with a valid work permit, S Pass, or Employment Pass can apply. Required documents include a passport, work pass and income proof. Those earning under $20,000 annually are capped at $1,500 across all licensed moneylenders combined.

Foreign workers earning $20,000 or above may borrow up to six times their monthly salary. The cap is cumulative across all lenders.

NRIC for Singaporeans and PRs. Foreigners need a valid passport and work pass. All applicants must provide proof of income, recent payslips, CPF contribution statements, bank records or IRAS filings for the self-employed. A document confirming current residential address such as a utility bill, HDB letter or tenancy agreement, is also required.

Borrowers earning below $20,000 per year are limited to $1,500 total across all licensed moneylenders. Those with annual income of $20,000 or above can borrow up to six times their monthly income. Both caps are cumulative across every lender the borrower has outstanding loans with. These limits apply equally to Singaporeans, PRs, and foreigners.

Three charges only: interest capped at 4% per month on the outstanding balance, a one-time administrative fee of up to 10% of the loan principal and a late payment penalty of up to $60 for each month a repayment is missed. The total cost of borrowing, principal, interest, fees and all penalties is capped at twice the original loan amount under the Moneylenders Act.