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​Who can you borrow from?
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Before borrowing, make sure you are dealing with an entity that is licensed to lend money. Find out what to look out for and what you should do to protect yourself.

Key takeaways
  • To protect yourself, deal only with licensed financial institutions or moneylenders.
  • Look up your lender in the official registries if you are unsure about them.

Borrowing from financial institutions and moneylenders

In Singapore, financial institutions and moneylenders are regulated and must comply with certain laws. If you're borrowing from one, make sure they are licensed.

Banks and finance companies – Check the Financial Institutions Directory for the list of banks and finance companies licensed by the Monetary Authority of Singapore.

Licensed moneylenders – Check the Registry of Moneylenders for the list of licensed moneylenders. Moneylenders must:

  • Be licensed by the Registry of Moneylenders, a division of the Insolvency & Public Trustee’s Office (IPTO).
  • Comply with the law, which contains safeguards to protect borrowers. These include restrictions on the loan amounts, interest rates and fees.

Never borrow from unlicensed moneylenders or loansharks

The best advice to deal with loansharks is to not deal with them at all. You and your family could be harassed or harmed if you fall back on repayments.


If you or someone you know is being harassed, call the National Crime Prevention Council's hotline at 1800 X-AH-LONG (1800-924 5664).

Last updated on 13 Oct 2020