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Q: Can I get a loan in Singapore without a credit check?

Technically, no legal lender in Singapore can approve a loan without a credit check. All banks must check your CBS report and licensed moneylenders are legally required to check your MLCB report. However, platforms like ROSHI provide 'indicative offers' which allow you to see your pre-qualification status before any hard credit check is triggered.

Q: What's the difference between a soft inquiry and a hard inquiry?

A soft inquiry occurs when you check your own credit report or receive pre-approved offers via ROSHI; this does not affect your credit score. A hard inquiry happens when a lender formally pulls your report for a final application assessment, which is recorded and can slightly impact your score.

Q: Will applying through ROSHI affect my credit score?

The initial request through ROSHI does not affect your credit score. A hard inquiry is only conducted later in the process when you choose a specific lender to finalize your loan contract. This protects your credit health while you compare rates.

Q: I have bad credit. Can I still get a loan?

Yes. Licensed moneylenders focus on your MLCB report and current monthly income (minimum $1,500 usually required) rather than just your bank credit score. They offer more flexibility for borrowers with bad credit compared to traditional banks.

Q: What credit score do I need for a moneylender loan?

There is no fixed minimum score, but moneylenders typically look at your repayment history and existing debt-to-income ratio. Even if your CBS score is below 600, you may still qualify if your recent MLCB record shows consistent repayment behavior.

Q: How do I check my MLCB report?

You can request your Loan Information Report online at mlcb.com.sg for a fee of $0.50. This report provides a real-time view of your borrowing history with all licensed moneylenders in Singapore.

Q: Is it safe to use loan comparison platforms?

Yes, provided you use reputable platforms like ROSHI. These platforms partner exclusively with Ministry of Law registered moneylenders and MAS-regulated banks, ensuring your data is handled securely and you avoid unlicensed lenders (loan sharks).

Q: What if I've been rejected by multiple lenders already?

If you have multiple rejections, stop applying immediately to avoid further damaging your score. Check your reports for errors and consider a smaller loan amount ($500u2013$2,000) or applying with a licensed moneylender who prioritizes current income over past credit history.

Q: Can foreigners apply without a credit check?

Foreigners must also undergo an MLCB check by law. For those new to Singapore, lenders will rely more heavily on the validity of your work pass (EP/SP/WP) and proof of stable income rather than a long-term credit history.

Q: How do I spot an illegal lender?

Avoid any 'lender' that contacts you via WhatsApp, SMS, or social media claiming 'no credit check guaranteed approval.' Licensed lenders are prohibited from advertising this way. Always verify a lender's name and license number on the official Ministry of Law registry.

No Credit Check Loans in Singapore (September 2026)

By Trinh Thanh

Head of Research

Glossary

Disclosure

By Trinh Thanh

Head of Research

No credit check loans are often searched for by borrowers worried about rejections or damaging their score but in Singapore all legal loans require a credit check. This page explains how the loan application for no credit check loans work and how platforms like ROSHI let you see indicative or pre-approved offers before any hard inquiry is made.

More Details

Do No Credit Check Loans Exist in Singapore?

All banks must check the applicant's CBS report and all licensed moneylenders must check the MLCB report before approving a loan. Anyone offering a loan with "no credit check" is either unlicensed (illegal) or misleading.

What does exist is the ability to get indicative or pre-approved offers by loan matching platforms such as ROSHI, Lendela or Lendingpot before hard credit checks are performed.

What Happens Before a Hard Credit Check?

Platforms like ROSHI allow borrowers to submit a single application and receive pre-approved or indicative offers from multiple lenders without triggering a credit check.

Before hard credit check:

Submit application with income and employment proof
Receive indicative or pre-approved offers from banks and moneylenders
Compare rates and terms across multiple lenders

After choosing a lender:

The selected lender performs a CBS or MLCB check
Final approval is based on the credit report
Loan is disbursed if approved

What If There's Bad Credit or No Credit History?

Bad credit or low CBS score

▸ Licensed moneylenders check MLCB, not CBS. Past missed credit card repayments or previous bank loan defaults may affect moneylender assessments less than current income levels, employment status and existing loans.

No credit history

▸ New residents or first time borrowers may have limited records in both bureaus. This is not the same as bad credit as moneylenders focus on current income levels and employment status rather than credit history length.

Multiple rejections

▸ Each rejected application can leave a mark on credit reports. Using a platform like ROSHI to compare indicative offers first helps avoid unnecessary hard inquiries.

What's the Difference Between CBS and MLCB?

	CBS	MLCB
Full name	Credit Bureau Singapore	Moneylenders Credit Bureau
Used by	Banks	Licensed moneylenders
Tracks	Credit cards, bank loans, mortgages and phone bills	Moneylender loans only
Report cost	$8 at creditbureau.com.sg	$0.50 at mlcb.com.sg

A poor CBS score does not automatically mean a poor MLCB record. Bank loan application rejection does not guarantee moneylender rejection as they assess different data and have different approval requirements.

Who Can Apply?

Singapore Citizens and PRs

Minimum age 21
Employed with monthly income
Banks typically require $20,000 to $30,000 annual income
Licensed moneylenders have no minimum income requirement

Foreigners (EP, S Pass, Work Permit)

Employed in Singapore with monthly income
Banks often require 2 years of tax returns
Valid work pass with at least 3 to 6 months remaining

Self-employed

May face stricter requirementsBanks often require 2 years of tax returns
Most moneylenders accept self-employed applicants with bank statements
Most moneylenders accept self-employed applicants with bank statements

How to Compare Loans Without
Affecting Your Credit Score

Submit a single application via ROSHI and receive offers from multiple banks and licensed
moneylenders without triggering a hard inquiry. See how it works:

•

Submit application on ROSHI

You provide income information, employment status and loan details Credit Check: NO

•

Receive indicative offers

Lenders provide pre-approved or indicative rates based on your profile Credit Check: NO

•

Proceed with chosen lender

The lender performs a CBS or MLCB check Credit Check: YES

Loan matching platforms like ROSHI are particularly useful for borrowers uncertain about their approval chances or those looking to minimise the impact of multiple applications on their credit report.

How to Choose Lenders Based on Credit Score

Banks vs licensed moneylenders which path makes sense

	Bank	Licensed Moneylender
Credit check	CBS (Credit Bureau Singapore)	MLCB (Moneylenders Credit Bureau)
Minimum credit score	Typically 650+	More flexible
Income requirement	Usually $20,000 to $30,000 per year	No minimum but affects loan amount
Loan amount	Up to 6× monthly salary	Up to 6× monthly salary
Interest rate	3 to 12% per year	Up to 4% per month
Late payment fee	Varies by bank	$60 per month
Approval speed	1 to 5 working days	Same day
Best for	Good credit score, lower rates	Low credit score, urgent needs

Good credit (CBS 700+)

Bank loan recommended with lower interest rates and longer tenure

Fair or poor credit (CBS 700 or below 650)

ROSHI application advisable to see indicative offers. If rates are unfavorable, consider moneylenders.

No credit history

Licensed moneylenders may be more accessible since they focus on current income and employment status rather than credit history.

Our Expert says

Bad Credit? You Still Have Options

There's no such thing as a legal no-credit-check loan in Singapore but that doesn't mean you're out of options if your credit isn't perfect.

The key is understanding what lenders actually see. Banks check CBS and licensed moneylenders check MLCB. A poor bank credit history doesn't automatically disqualify you from a moneylender loan.

Use loan matching platforms like ROSHI to see your indicative or pre-approved offers first, then decide which path makes sense.

Trinh Thanh

Head of Research

The Truth About No Credit Check Loans in Singapore

Why all legal lenders are required to check your credit and what that means for you.

Why Credit Checks Exist

The Ministry of Law requires all licensed moneylenders to check the MLCB before approving a loan. This isn't to punish borrowers, it's to prevent over borrowing. The MLCB tracks how many moneylender loans you currently have and whether you're repaying on time. If you already have multiple outstanding loans, a responsible lender should decline your application to protect you from unnecessary debt cycles.

Similarly, banks check CBS to assess overall creditworthiness, credit card repayments, existing loans and payment history.

What "No Credit Check" Usually Means

When platforms advertise "no credit check" they typically mean one of two things:

Soft inquiry first:

You can submit an application and receive indicative offers without a hard credit pull. The actual credit check only happens when you proceed with a specific lender.

Illegal lender:

Unlicensed moneylenders or loan sharks may skip credit checks but they also charge illegal interest rates, use harassment tactics and have no regulatory oversight hence you should avoid them at all cost.

What Lenders Actually Look At

Many borrowers assume a low credit score means automatic rejection. In reality, lenders assess multiple factors:

Income and employment stability

A steady income with payslips showing consistent salary matters more to many lenders than your credit score alone.

Existing debt obligations

Lenders calculate your Total Debt Servicing Ratio (TDSR) to ensure you can handle additional repayments.

Repayment history on current loans

If you have existing moneylender loans and you're repaying on time, that's a positive signal even if your CBS score is low.

Loan amount requested

Asking for a smaller amount increases approval chances. A lender may decline $5,000 but might approve a $2,000 loan.

Employment type and duration

Permanent employees with 6+ months at the same company are viewed more favorably than gig workers or those changing jobs frequently.

Valid work pass validity

If you are a foreigner and your pass expires in 2 months, lenders may hesitate to approve a loan with 6 months tenure.

Interest Rate Trends

Below is an overview of current interest rate trends in Singapore:

Today's moneylender interest rate trends in Singapore

Today's moneylender interest rate trends in Singapore - As of 20 September 2026, licensed moneylenders are charging an average interest rate of approximately 3.83% per month just under the legal cap of 4%.

Monthly Interest Rate Trends (September 2026)

Research updated on 8 Sep 2026 - September 2026 sees continued interest from borrowers who worry that their CBS score will block them from getting a loan. The reality in Singapores licensed moneylending market is that lenders still check your MLCB record and assess your current income but they do not always rely solely on traditional bank credit scores.

This makes financing accessible to people who have had past credit problems but are now earning steadily. Rates have not changed since August and the regulatory caps are still firmly in place.

Licensed Moneylenders

Licensed moneylenders in September 2026 are still offering loans to borrowers with poor or thin credit files at around 3.8% per month. The 4% cap, 10% admin fee and S$60 late fee still apply.

Instead of focusing only on your CBS history, these lenders look at your recent payslips, employment stability and existing debt obligations through the MLCB. You can apply online but must complete the process in person.

Approval depends on whether you can afford the repayments now, not what happened five years ago. Borrowing limits of up to six times monthly income still apply for qualifying earners.

Banks

Banks do not offer no credit check loans. They will always pull your CBS report and review your credit history as part of the approval process.

If your score is low or your report shows missed payments, bank approval is unlikely unless you provide collateral or a guarantor. The process is also slower.

For borrowers who know their credit history is problematic, going straight to a licensed moneylender is usually more efficient than applying at a bank and waiting for an inevitable rejection.

ROSHI Expert Insight

In September 2026 licensed moneylenders still assess income and MLCB records even when they market loans with less emphasis on credit scores. The 4% monthly cap and 10% admin fee limit remain unchanged by the Ministry of Law.

With bank rates at 5-year lows from 0.90% p.a. for Standard Chartered CashOne and 1.00% p.a. for CIMB and Trust Bank the gap between bank and moneylender pricing is wider than it has been in years. A no-credit-check loan from a moneylender is convenient but expensive.

If your credit is damaged try a secured credit card or a small bank loan with a guarantor first. Only use a moneylender as a last resort and treat it as a one-time bridge while you repair your credit profile by Trinh Thanh.

What This Means for Borrowers

If you have credit issues and need a loan in September 2026, licensed moneylenders offer a regulated path forward. Your current income and repayment capacity matter more than old mistakes.

However, these loans are not free passes. The interest is higher than bank rates and the fees are regulated but real.

Only borrow what your current budget can support and use the loan as a chance to prove you can manage credit responsibly. Over time, that can help rebuild your financial profile.

Common Myths About Credit Checks

MYTH #1

If I apply to multiple lenders, my credit score will crash

Reality:

Multiple inquiries within a short period usually less than 30 days for the same loan type are often treated as a single inquiry. However, using a platform like ROSHI lets you compare without any inquiry until you proceed.

MYTH #2

Moneylenders don't check credit at all

Reality:

All licensed moneylenders are required to check MLCB. What they don't check is CBS so your bank credit history may not affect their decision.

MYTH #3

A bad credit score means no one will lend to me

Reality:

Licensed moneylenders have more flexible criteria. If you have income and can demonstrate ability to repay, approval is possible even with poor credit.

MYTH #4

Checking my own credit report hurts my score

Reality:

Checking your own report is a "soft inquiry" and does not affect your score. You should check before applying.

MYTH #5

If I'm rejected once, I'll be rejected everywhere

Reality:

Different lenders have different criteria. A bank rejection doesn't mean a moneylender will reject you, they use different credit bureaus and assessment frameworks.

Finding the Right Loan with a Low Credit Score (FAQs)

Can I get a loan in Singapore without a credit check?

All banks check your CBS report and all licensed moneylenders check your MLCB before approving a loan. However, platforms like ROSHI let you receive indicative offers before any credit check is requested. This allows you to check if you pre-qualify without affecting your credit score.

What's the difference between a soft inquiry and a hard inquiry?

A soft inquiry, such as checking your own CBS report or getting indicative pre-approved offers through ROSHI, does not affect your credit score. A hard inquiry occurs when a lender formally assesses your application. It appears on your credit report and may slightly lower your score.

Will applying through ROSHI affect my credit score?

The initial application through ROSHI does not trigger a credit check. A hard inquiry only happens when you choose to proceed with a specific lender and a formal loan application assessment is conducted.

I have bad credit. Can I still get a loan?

Licensed moneylenders have more flexibility than banks and check your MLCB instead of your CBS report. Your bank credit history may not affect their assessment, but your current income, employment status and any existing loans will be taken into consideration.

What credit score do I need for a moneylender loan?

Moneylenders assess your MLCB record, current income and ability to make repayments. Some moneylenders may approve borrowers with a CBS score below 600 as they consider multiple data points beyond just the CBS score.

How do I check my MLCB report?

Visit mlcb.com.sg and request your report for $0.50. Your report will include your moneylender borrowing history and any outstanding loans.

Is it safe to use loan comparison platforms?

It is advisable to use established and reputable loan matching platforms such as Lendela, Lendingpot or ROSHI. These platforms partner exclusively with Ministry of Law registered licensed moneylenders and MAS regulated banks.

What if I've been rejected by multiple lenders already?

Before applying again, check your CBS and MLCB reports to understand why you are being declined. Consider requesting a smaller loan amount, providing a guarantor or applying with a licensed moneylender if you have previously tried with banks.

Can foreigners apply without a credit check?

All moneylenders must check an applicant's MLCB report regardless of nationality. However, foreigners who are new to Singapore may have limited MLCB history, which is not necessarily negative as current income and work pass validity are often more important.

How do I spot an illegal lender?

Illegal lenders often advertise via SMS, WhatsApp or flyers with promises such as "no credit check guaranteed approval". They are not listed on the Ministry of Law's licensed moneylender registry, which should always be verified before applying with any lender in Singapore.

Our customers trust us when it comes to making important borrowing decisions

Darren Tan

5 months ago

Good intermediary for understanding market trends and knowing many offerings laid out for clarity. Professional and timely sync + scheduling to ensure apt offers and appointments are arranged. Recommended

Aya Medel

7 months ago

I used ROSHI platform to find the best loan offers. Just need to fill up some details and wait for loan offers and can choose which one you like. It is totally free and can receive vouchers and cashback based on the loan amount approved. Thank you ROSHI

Ken Pho

3 months ago

ROSHI is great Chanel that helps to connect to lender for smooth and faster loan approval.. thank you

Mr. Century

6 months ago

Thanks ROSHi.It was really good, convenient and useful to apply loan through Roshi. Overall experience was excellent 👌👍

Source: Google

No Credit Check Loans in Singapore (September 2026)

Fact-checked

Glossary

Disclosure

Useful Resources

Fact-checked

Do No Credit Check Loans Exist in Singapore?

What Happens Before a Hard Credit Check?

What If There's Bad Credit or No Credit History?

What's the Difference Between CBS and MLCB?

Who Can Apply?

Disclosure

Glossary

Useful Resources

How to Compare Loans Without Affecting Your Credit Score

Submit application on ROSHI

Receive indicative offers

Proceed with chosen lender

How to Choose Lenders Based on Credit Score

Expert Advise

No Credit Check Loan Facts

Lender Requirements

Rate Trends

Bad Credit? You Still Have Options

The Truth About No Credit Check Loans in Singapore

What Lenders Actually Look At

Income and employment stability

Existing debt obligations

Repayment history on current loans

Loan amount requested

Employment type and duration

Valid work pass validity

Interest Rate Trends

CALCULATE YOUR LOAN REPAYMENTS

See Exactly What You'll Pay Before You Apply

What Are the Pros & Cons of Applying Without Upfront Credit Checks?

PROS

CONS

Common Myths About Credit Checks

Finding the Right Loan with a Low Credit Score (FAQs)

Can I get a loan in Singapore without a credit check?

What's the difference between a soft inquiry and a hard inquiry?

Will applying through ROSHI affect my credit score?

I have bad credit. Can I still get a loan?

What credit score do I need for a moneylender loan?

How do I check my MLCB report?

Is it safe to use loan comparison platforms?

What if I've been rejected by multiple lenders already?

Can foreigners apply without a credit check?

How do I spot an illegal lender?

Our customers trust us when it comes to making important borrowing decisions

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