Key Takeaways
- The Registry of Moneylenders (RoM), administered by Singapore’s Ministry of Law (MinLaw), regulates licensed moneylenders and maintains the official list of licensed moneylenders in Singapore.
- Checking a lender’s business name, licence number, address, telephone number, and website against the Registry can help you confirm whether you are indeed dealing with a legitimate business.
- Licensed moneylenders must comply with rules covering loan costs, documentation, advertising and lending practices.
- Borrowers should remain alert to impersonation scams, fake websites, unsolicited loan offers, and requests for sensitive information.
- Since 15 September 2026, eligible unsecured loans from licensed moneylenders, excluding business loans, are subject to a mandatory three-business-day cooling-off period.
Finding a moneylender involves much more than merely comparing loan amounts and interest rates. We totally get why that part gets all the attention—but before sharing personal details or signing a loan agreement, first check that the business is properly licensed.
The Registry of Moneylenders (RoM), administered by Singapore’s Ministry of Law (MinLaw), provides the official list of licensed moneylenders in Singapore. A lender may look legitimate online, but checking the Registry first gives you a reliable starting point for verifying its credentials.
Read on to learn exactly how to check and everything you need to know about Singapore’s Registry of Moneylenders, including its role and safeguards!
What Is the Registry of Moneylenders in Singapore?
The Registry of Moneylenders Singapore administers and oversees the licensed moneylending sector under MinLaw. Its role is to help maintain a safe and professional moneylending industry in Singapore.
The Registry is different from the Monetary Authority of Singapore (MAS), which regulates banks and other financial institutions. A business offering loans is not automatically an authorised moneylender simply because it has a professional-looking website or advertisement.
To operate as a licensed moneylender, a business must hold a valid moneylending licence obtained via the official Registry.
What Does the Registry of Moneylenders Do?
The Registry has several important responsibilities that affect both lenders and borrowers. Here’s a quick look:
#1 Licenses Moneylenders
Businesses that operate as moneylenders generally require a licence, unless they fall under an applicable exclusion or exemption under the Moneylenders Act. The Registry has temporarily suspended the granting of new moneylending licences. Applications for additional places of business are also currently suspended.
#2 Regulates Licensed Moneylenders
Licensed moneylenders must comply with all the requirements under the Moneylenders Act, Moneylenders Rules, licence conditions and the Registrar’s Directions. These rules cover areas such as loan costs, advertising, documentation and lending practices.
#3 Provides Information for Borrowers
The Registry publishes the official list of licensed moneylenders in Singapore, borrower guidance and advisories relating to licensed and unlicensed moneylending.
This makes the Registry a super useful first stop when you are researching and verifying a lender before applying!
#4 Takes Regulatory Action
Licensed moneylenders are expected to follow the applicable rules and licence conditions. Where breaches occur, the Registry can take appropriate regulatory action against errant lenders, including revoking or suspending their licences.
Related read: What Are the Licensed Moneylender New Rules?
Why the Registry of Moneylenders Matters to Borrowers
Checking the Registry takes only a few minutes, but it can help you avoid a much bigger problem.
The official records allow you to check and confirm crucial lender details at your convenience, independently.
MinLaw has specifically warned about websites and social media profiles that mimic those of licensed moneylenders—common tactics used by scammers who impersonate genuine licensed moneylenders.
📝 Note: Being listed on the Registry doesn’t mean you should stop exercising caution. You should still fully understand the terms of any loan before accepting it.
How to Check if a Moneylender Is Licensed Via the Registry of Moneylenders
If you are considering borrowing, follow these steps to verify licensed moneylenders in Singapore before proceeding.
Step 1 — Find the Official Registry List
Start with the official list of licensed moneylenders in Singapore, rather than relying on search results, advertisements or messages sent to you.
Step 2 — Search for the Business Name
Search for the lender’s business name on the official list. Make sure the name matches the business you intend to contact.
Step 3 — Compare the Business Details
Check the lender’s:
- Business name
- Licence number
- Approved business address
- Telephone number
- Website address
Don’t assume a similar-looking name means the businesses are the same.
Step 4 — Check the Website Address
If you reached the lender through an online search, compare its website address with the details published by the Registry. Tiny differences in a URL are super easy to overlook, especially when a scammer creates a website designed to closely resemble a genuine lender’s website.
Step 5 — Verify Before Sharing Personal Information
Licensed moneylenders must follow the required procedures before granting a loan, including verifying a borrower’s identity in person at their approved place of business.
Be cautious if someone claims that a legitimate loan can be completed entirely through messages, phone calls or an online form without the required in-person verification.
How to Tell a Genuine Licensed Moneylender From an Impersonator
Checking the Registry establishes whether the business is listed. You should also pay extra attention to how the person claiming to represent that business behaves.
Be particularly cautious if someone:
- Sends an unsolicited loan offer through SMS or WhatsApp
- Requests an upfront payment before disbursing a loan
- Asks for your Singpass username or password
- Requests banking passwords or other sensitive credentials
- Asks you to hand over your NRIC, passport or other identification documents
- Uses a website or social media profile that does not match the Registry’s information
- Uses threatening or abusive language
The above are prohibited behaviours for licensed lenders.
Requests for money under the guise of GST or processing fees before loan disbursement are a known scam tactic.
If something doesn’t add up, pause the application and verify the lender using the official Registry—always.
Related read: Don’t Fall for These Moneylender Scams in Singapore
What Rules Do Licensed Moneylenders Have to Follow?
Choosing a licensed moneylender gives you the protection of Singapore’s moneylending regulations. These rules limit the costs that can be imposed and set requirements for how loan agreements are handled.
Interest and Fees
For typical loans from licensed moneylenders:
- Interest is capped at 4% per month.
- Late interest is capped at 4% per month and can only apply to the amount that is overdue.
- The loan approval or administrative fee cannot exceed 10% of the principal.
- The late repayment fee cannot exceed S$60 per month.
- The total charges imposed on a loan cannot exceed an amount equivalent to the principal borrowed.
Understanding how licensed moneylender interest rates are calculated can also help you estimate the potential cost of borrowing and compare repayment terms before committing to a loan.
Proper Loan Documentation
A licensed moneylender must explain the loan terms in a language you understand and provide the required loan documents. You should receive a completed copy of the loan contract and be able to review important details such as the repayment schedule, interest rate and applicable fees.
Never sign a blank or incomplete Note of Contract!
Responsible Lending Practices
Licensed moneylenders must also conduct appropriate due diligence before granting loans. A lender should never simply approve a loan through a phone call, SMS or email without conducting the necessary credit assessments and identity checks.
What Has Changed Recently for Borrowers?
A recent development affects borrowers.
From 15 September 2026, a mandatory three-business-day cooling-off period applies to unsecured loans from licensed moneylenders, except business loans. Saturdays, Sundays and Singapore public holidays are excluded from the calculation.
During this period, a borrower can cancel the loan at a reduced cost. If the loan is cancelled, the lender can retain only the permitted portion of the loan approval fee, and no interest is charged during the cooling-off period.
The measure gives borrowers additional time to reconsider an unsecured loan after it has been granted.
As moneylending requirements can change, it is sensible to check the latest MinLaw and Registry guidance when making a borrowing decision.
Can You Complain About a Licensed Moneylender?
Yes! If you believe a licensed moneylender has breached the rules or engaged in improper conduct, you have legitimate grounds to raise the matter with the relevant authorities, in this case, the Registry of Moneylenders.
Keep your loan agreement, receipts, payment records, messages and lender details as supporting evidence. For suspected unlicensed moneylending or serious harassment, report the matter to the Police immediately!
For more information, read our guide on how to lodge a complaint against a licensed moneylender.
Registry of Moneylenders vs Moneylenders Credit Bureau: What’s the Difference?
The Registry of Moneylenders and the Moneylenders Credit Bureau (MLCB) serve vastly different purposes.
| Registry of Moneylenders | Moneylenders Credit Bureau |
| Regulates licensed moneylenders | Maintains relevant licensed lender loan and repayment information |
| Operates under MinLaw | Functions as a credit information repository for licensed moneylending |
| Publishes the list of licensed moneylenders | Provides credit information relating to moneylending |
| Focuses on industry regulation | Focuses on borrower loan information |
The Registry helps establish whether a business is licensed, while your MLCB report contains your borrowing and repayment history with licensed moneylenders.
What Should You Check Before Borrowing From a Licensed Moneylender?
Before signing a loan agreement, run through this quick checklist:
- Verify the lender through the official Registry.
- Understand the loan amount and repayment schedule.
- Check the applicable interest and fees.
- Read the loan agreement carefully.
- Make sure you receive the required documents.
- Never provide your Singpass password or banking credentials.
- Do not allow anyone to retain your identification documents.
- Be cautious about unsolicited loan offers.
- Keep copies of agreements, receipts and payment records.
- If taking an eligible unsecured loan, understand how the three-business-day cooling-off period works.
☝️ Tip: A few minutes of checking can make a significant difference to how confidently you approach the borrowing process!
Final Thoughts: Check the Registry Before You Borrow
The Registry of Moneylenders is one of the most useful resources for anyone considering borrowing from a licensed moneylender in Singapore. It provides an official, unbiased way to check whether a business is genuinely licensed and legitimate.
That said, verification is only the starting point. You should fully understand the loan’s costs, repayment schedule and contractual terms before committing.
If you are considering applying for a loan with us at 1-Money, take the time to review the relevant information and verify our details through the official Registry before proceeding. Knowing that you are dealing with a properly licensed lender can give you real peace of mind as you move forward with your borrowing decision!
Frequently Asked Questions About the Registry of Moneylenders
What is the Registry of Moneylenders in Singapore?
The Registry of Moneylenders is a MinLaw regulatory body that oversees licensed moneylenders and maintains the official list of licensed moneylenders in Singapore.
How can I check whether a moneylender is licensed?
Use the official list published by the Registry and compare the lender’s business name, licence number, physical address, telephone number and website against the listed information. The Registry of Moneylenders updates the list monthly.
What should I do if a moneylender is not listed on the Registry?
Do not proceed! If you suspect unlicensed moneylending activity, report it to the police.
Does the Registry of Moneylenders regulate banks?
No. The Registry only regulates licensed moneylenders. Banks and other financial institutions fall under the regulatory framework administered by MAS.
