Is Best Licensed Moneylender Legit?

Registered name: BEST LICENSED MONEYLENDER PTE.LTD
Licence No. 48/2026
Approved address: 13, North Bridge Road, #01-3984, Golden Beach Vista, Singapore 190013
Phone: 6224 2224
Verify on the Ministry of Law Registry

Is Best Licensed Moneylender a real licensed company?

Yes. Best Licensed Moneylender is the consumer name for BEST LICENSED MONEYLENDER PTE.LTD, licensed by the Ministry of Law under Licence No. 48/2026. The approved address is 13 North Bridge Road, #01-3984, Golden Beach Vista, Singapore 190013. Phone: 6224 2224. The company has been operating since 2004 and has served over 32,000 clients. Check the current Registry of Moneylenders before sharing personal information.

Is it safe to borrow from a licensed moneylender in Singapore?

Licensed moneylenders are regulated under the Moneylenders Act. The law caps interest at 4% per month, late fees at $60 per month of late repayment, the administrative fee at 10% of the principal, and total charges at 100% of the principal. These caps apply regardless of income. Best Licensed Moneylender, Licence No. 48/2026, discloses all fees upfront before you sign. Compare the written terms, not advertisements, and verify the lender on the Registry before you proceed.

How do I verify a moneylender is licensed?

Go to the Ministry of Law Registry of Moneylenders. Match the legal name, licence number, approved address and official website. Do not rely on an advertisement, SMS, WhatsApp message or social media account. For Best Licensed Moneylender, look for BEST LICENSED MONEYLENDER PTE.LTD, Licence No. 48/2026, at 13 North Bridge Road, #01-3984, Golden Beach Vista, Singapore 190013. If anything does not match, stop and report the contact.

How do I choose a licensed moneylender in Singapore?

Start with the Registry. Any lender not listed there is not licensed. Then get written offers and compare: the interest rate, administrative fee, late charges, total repayment and repayment schedule. Visit the approved branch; the law requires face-to-face identity verification at the registered address. Best Licensed Moneylender has operated since 2004 with over 500,000 loans disbursed, offers rates as low as 1.01% per month (12.12% p.a.), subject to assessment, and uses SingPass MyInfo so there is no paperwork to prepare.

What should I check before borrowing from a moneylender?

Five things. One, the lender is on the current Ministry of Law Registry. Two, the interest rate, fees and total repayment are in writing. Three, the repayment schedule fits your income after expenses. Four, you understand the late-payment terms. Five, identity verification happens face-to-face at the approved address, not online or by message. Best Licensed Moneylender discloses all fees upfront, and the personal loan calculator lets you model the repayment first.

What are the warning signs of an unlicensed moneylender?

Unsolicited SMS or WhatsApp loan offers. Requests for your SingPass credentials, OTP or ATM card. Pressure to sign without reading the contract. Requests for upfront payment before any loan is granted. A name, address or licence number that does not match the Ministry of Law Registry. No face-to-face identity verification at a registered address. If you receive an unsolicited loan offer, do not respond. Verify the sender against the Registry before sharing any information.