noman

If you have retired or are approaching retirement, you may be wondering whether we can consider your application at all. The answer has two parts. Singapore's Moneylenders Act sets borrowing limits for every licensed moneylender, based on your income and residency. Separately, each lender sets its own eligibility criteria - including age limits - within what the law allows. We differ from other lenders on the second, not the first. Our eligibility criteria Worth knowing before you spend time applying. Our Requirement Our criteria Residency Singapore Citizens, Permanent Residents, and foreigners or expatriates residing in Singapore Age 21 to 65 years [...]

Search for this question, and you will find two different answers. One says S$3,000. Another says six times your monthly income. Both are correct — they just apply to different people, and nobody ever explains which one applies to you. The maximum loan from a licensed moneylender in Singapore is not a single figure. It depends on your annual income, whether you are a Singapore Citizen, Permanent Resident, or foreigner, and whether the loan is secured. It also depends on what you already owe elsewhere, which is the part most people miss entirely. This article gives you the actual numbers, shows [...]