Best Licensed Moneylender vs 1-Money: Which Fits Your Budget?

Comparing Best (Best Licensed Moneylender Pte Ltd) with 1-Money? If borrowing cost is your first concern, Best gives you a published starting rate to discuss: from 1.01% per month (12.12% p.a.) for eligible applicants, subject to assessment.[1] Whether that rate applies to you, and what you would repay altogether, still needs to be confirmed in your written offer.

1-Money describes 3.92% per month as its regular interest rate and publishes a 10% loan administrative fee.[4] Best's starting rate is a different kind of figure, available only to eligible applicants after assessment.[1] Ask Best for its actual administrative fee too; the starting rate is not a fee-free offer, and the legal ceiling on that fee is 10% of principal.[10] Begin with the assessed terms, then compare the amount you receive, the schedule and the full cost.

Important: Best Licensed Moneylender Pte Ltd publishes this article and is one of the lenders compared. This is not an independent review. Lender information and official guidance were checked on 4 October 2026. The official Registry is as at 1 September 2026 and was downloaded on 4 October 2026. This is general information, not a personal recommendation or a promise of approval.

Best may suit you if you want to discuss its advertised starting rate and have the proposed costs and repayments explained before signing. Best publishes that approach, so bring the amount you need and ask the team to show the rate offered to you, any permitted fee and each payment.[1][2] The reason to choose Best would be that those assessed terms work for your budget, not that a starting rate guarantees the cheapest loan.

1-Money may be more practical if you need its published Sunday opening or want to discuss weekly repayments or a term of up to 24 months, which it says it is willing to discuss.[4][5] Those are useful differences, but neither convenience nor a smaller instalment settles the cost question.

Ask directly: “Do I qualify for the 1.01% monthly starting rate, and what would my total repayment be?” Best's published statement makes the rate subject to eligibility and assessment; it is not a personal quote.[1]

Best's homepage also uses 3.92% monthly interest in an illustrative repayment example.[2] That example is not your offer, just as the published starting rate is not an offer to every applicant.

Then ask 1-Money to set out its offer for the same amount and repayment period. Its homepage's published 3.92% monthly rate and 10% administrative fee should not be replaced with the legal maximum or assumed to describe every assessed offer.[4] Equally, do not assume Best would offer its starting rate to everyone.

Before comparing, have both lenders show you:

• the principal and any permitted upfront deduction;

• the amount you would actually receive;

• the approved interest rate and repayment period;

• each instalment, its due date and the total repayable; and

• the charges that could apply if a payment is late.

The Ministry of Law advises borrowers to compare lenders and understand the repayment schedule, interest and fees before signing.[10] If Best's written offer costs less on the same terms, you will have a concrete reason to choose it. A saving cannot be confirmed without those offers.

1-Money advertises monthly and weekly repayment plans, and says it is willing to discuss instalment plans of up to 24 months.[4] Treat that as something to ask about, not a repayment term you are automatically entitled to receive.

For someone paid monthly, a weekly payment may fall before the next salary arrives. For someone paid weekly, the same schedule may be easier to plan around. What matters is whether every due date fits the money actually available after essential expenses.

A longer term may lower each instalment while increasing the overall interest paid. Best's website advises comparing the written total repayment, rather than choosing by monthly instalment alone.[1] Ask Best to explain the schedule available for your assessment; do not assume its calculator's selectable term is an approved offer.

If the repayment only works when overtime comes through or every expense goes to plan, pause. A different schedule does not make an unaffordable amount affordable.

You might understand the interest rate but still be unsure why the net payout differs from the principal, or when the first instalment is due. At Best, ask the team to go through those figures together. Best says it explains documents, assessment steps, costs, repayment and contract terms before you decide.[1]

1-Money also says it communicates contract terms clearly before signing.[4] These are published service commitments, not proof that only Best explains loans clearly. The law requires a licensed moneylender to explain the terms in a language you understand and provide a copy of the contract.[10] The useful test is whether you can explain your own payout, repayments and late-payment obligations after the discussion.

Reviews may give you questions to ask about service. They cannot establish your approved rate or whether the repayment fits your household budget. This comparison does not rank either lender using an independently audited review score.

Yes. Licensed moneylenders must meet borrowers at their approved place of business for physical face-to-face identity verification before granting a loan. A transaction carried out entirely online is not permitted.[9]

Best describes an application start through Singpass Myinfo, followed by assessment and the required branch verification.[1] 1-Money describes an online application, an in-person interview with supporting documents, contract review and disbursement after approval.[4] Neither route means submitting a form guarantees funds.

Ask Best what information is needed for your application and what remains before an appointment. Ask 1-Money the same, particularly if you are relying on a particular day. Use Singpass yourself; official borrower guidance warns against lenders asking for your Singpass credentials.[10]

The Registry as at 1 September 2026 lists Best at 13 North Bridge Road, #01-3984, Golden Beach Vista, Singapore 190013, and 1-Money at 149 Rochor Road, #02-08, Fu Lu Shou Complex, Singapore 188425.[3]

Best publishes Monday to Saturday hours of 11am to 7pm, and says it is closed on Sundays and public holidays.[2] 1-Money's contact page publishes Monday to Saturday hours of 11am to 7.30pm and Sunday hours of 11am to 4.30pm, excluding public holidays.[5]

If North Bridge Road and Best's hours fit your day, arrange a discussion there. If Sunday is your only available time, 1-Money's published hours may make it the more practical visit. Confirm availability directly before travelling, and keep convenience separate from the loan's cost.

If you want to explore Best's advertised starting rate and understand the proposed repayment before deciding, start with Best. Its published from-1.01% monthly rate remains subject to eligibility and assessment, and its process includes explaining the terms.[1][2]

Keep 1-Money in the comparison if its Sunday hours, weekly-payment option or advertised discussion of a term up to 24 months would address a real scheduling need.[4][5] Ask for the written offer; those features are not reasons to overlook fees or a repayment you cannot manage.

You do not need to force a choice between the two. If neither assessed offer leaves room for essentials, take time to reconsider the amount or whether to borrow at all. Official guidance is to borrow only what you need and can repay.[10]

Read Best's personal-loan information, then contact the team through the official website if you want to discuss an assessment.[1][2] Bring the amount you need, your pay dates and your questions. Ask what you would receive, which rate applies to you and what you would repay before deciding whether to proceed.

Is 1-Money a licensed moneylender?

The official Registry as at 1 September 2026 lists 1 - MONEY PTE. LTD., licence 100/2026, at the Rochor Road address, with 1-money.sg as its website. It lists Best under licence 48/2026.[3] Check the current Registry's legal name, address and website before sharing information; a familiar-looking name alone does not verify who you are dealing with.[9]

Is Best cheaper than 1-Money?

Best advertises from 1.01% per month (12.12% p.a.) for eligible applicants, subject to assessment.[1] 1-Money publishes 3.92% monthly and a 10% administrative fee.[4] These are a conditional starting rate and a published regular rate, not two personal quotes. Best's own repayment example uses 3.92% monthly interest.[2] Ask Best for its actual administrative fee as well. A saving is not established without comparable written offers, including fees, net payout and total repayment.

Is the 4% monthly legal cap what I will be charged?

No. The Ministry of Law's 4% monthly interest limit is a maximum, not either lender's personal quote. The permitted upfront fee is capped at 10% of principal, and late fees at $60 for each month of late repayment. Late interest is capped at 4% per month on the overdue amount, not amounts that are not yet due. Interest, late interest, the upfront administrative fee and late fees combined cannot exceed the principal.[10] Ask what charges apply to your own agreement; a legal ceiling is not an automatic fee.

Can I cancel a new unsecured personal loan if I reconsider?

For qualifying unsecured non-business loans disbursed on or after 15 September 2026, the cooling-off window is three business days after disbursement, excluding the disbursement day, weekends and Singapore public holidays.[10][11] Cancellation is at reduced cost, not necessarily free. You repay the remaining principal disbursed after the upfront approval-fee deduction, plus up to the portion of that fee the lender may retain; no interest is charged under this framework, and the total repaid cannot exceed the principal. The retained approval fee is capped at $50 for loans of $5,000 or less, or 3.5% of principal for loans above $5,000, and cannot exceed the approval fee paid.[10] Ask for the exact cancellation deadline, procedure and amount for your contract.

[1] best-personal

[2] best-home

[3] registry-pdf

[4] one-money-home

[5] one-money-contact

[9] registry-page

[10] rom-current-guide

[11] cooling-off-announcement