101 Credit Pte Ltd is a licensed moneylender (License No. 29/2024) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Licensed Moneylender

in Singapore

We are one of the best lenders in Singapore and are committed to pushing the boundaries of what it means to be in the business of lending money to our clients. We strongly believe that everyone should have equal and easy access to financial services, no matter their credit background or current financial capabilities. We have helped thousands of Singaporeans over the last decade. We are usually praised by our customers for our financial commitments, easy and helpful services and polite attention to their needs.

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Welcome to 101 Credit

The loans we offer are with a vey attractive interest rates that suits your needs. Loans that we provide are often used for payday, gift purchases, holidays, emergency expenses and other purposes. Our customers are our top priority. We are always listening to our customers' feedback and changing with the times. Being around for more than 10 years has only been possible with our friendly and trustworthy service to our customers.

Our Loan Services

Steps to Apply for a Loan

Fill out the form online

Come meet us 

Sign the Agreement 

Get your Cash

Frequently Asked Questions

Can I apply for a loan over the phone or online?

Yes. Avail of your loan via walk-in, phone at +65 62381018​ or here.

You may always loan up to 6 times your monthly income with an annual income above $20,000. Licensed money lenders in Singapore allow you to borrow much more above your income if you apply for a secured loan (with collateral). 

Your loan amount will depend on the legal requirement and your qualification. Here’s the list of loanable amount 101 Credit offers: 

Personal Loan – SGD $500 to $50,000

Foreigner Loan – Up to SGD $30,000

Yes, the maximum amount you can borrow will be different from one lender to another. For example, banks in Singapore offer higher lending amounts but have stricter requirements. Disbursement of cash takes time because these lenders have more rigorous evaluation processes before releasing the money.

Licensed lenders, on the other hand, can offer quick access for people in need of funds quickly. They have low interest rates that are comparable to other companies that provide such services.

Bad credit history can cause you to miss out on potential opportunities. For instance, when applying for a loan or other type of financial assistance from a bank it may be rejected due to your low and/or poor scores.

Fortunately, 101 Credit is here as an expert legal money lending agency in Singapore that will assess your situation responsibly while considering the improvement of your current status.

That said, if you have a low or bad credit score, don’t worry! Your options are still open. You can take out monthly installment loans to manage your finances and pay off debt quicker rather than taking on any more interest charges with high interest rates. Just be sure to ask our specialists about the best loan for your needs before proceeding so we can chat through all of your different possibilities together!

While most banks require at least a day for loan applications to be approved, legal lenders, such as 101 Credit assure that you can get your cash shortly after an hour!

All licensed money lenders can charge a monthly interest rate up to 4% per month. This cap applies regardless of the borrower’s income and the type of the loan (either secured or unsecured).

In addition, legal lenders are only allowed to impose the following charges and fees:

a fee not exceeding SGD $60 for each month of late repayment;

a fee not exceeding 10% of the principal of the loan when a loan is granted; and

legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative, and late fee also cannot exceed an amount equivalent to the principal of the loan.

Yes, rest assured that, unlike other financial institutions, moneylenders do not have early repayment fees.

You can apply for more than one loan, making your application subject to evaluation to guarantee that you do not over-borrow and suffer from financial burden.

Identifying a legal money lender can easily be done by checking the list of licensed moneylenders in the Registry of Moneylenders, under the Ministry of Law in Singapore here. Note that legal moneylenders will always perform due diligence and walk you through the process every step of the way to ensure the customers are fully aware and informed. It will not use threatening behavior and they will not also ask for your SingPass password or any delicate or sensitive information unless necessary.

To find your perfect personal loan, compare different packages between lenders through a comparison website. Make sure you’re satisfied with terms and conditions before committing to anything and note that interest rates depend on the loan plan you are applying for.

With the help of 101 Credit, you can receive a loan with interest rates that are not only affordable but also within legal limits. With no collateral necessary to get started on your application process.

You’ll want to see what our clients have said about our services! We’ve got some of their reviews right here on this page and you can read more by visiting our Reviews Page. You may also apply online or call us for further details.

Prior to getting a loan, it is vital to consider which is the best-licensed moneylender to borrow from and what is best suited for your financial needs. Moneylenders not only give you the best interest rate, but it is also required to be licensed and fully registered under the Ministry of Law.

Before taking up any kind of loan, make sure you are:

  • Fully-aware of the Singaporean government’s financial assistance schemes, which have no or low-interest rates and will provide you with other suitable amounts for your needs
  • You understand the language used in the contract
  • Able to fulfill your contract and agree legally to the discussed terms and conditions
  • You have enough income to repay the borrowed loan amount
  • Have compared the low-interest rates for yourself.

101 Credit’s loans are designed to ease your financial emergencies. We make sure you have the assistance that you need immediately, with a low interest rate in as short as an hour.

The process of getting one of our loans is easy too – just apply online or by calling us. All it takes for approval is to be eligible and bring the requirements at your convenience before we schedule our meeting on your loan plan. You’ll get this necessary emergency funding the same day if all goes well after signing off on everything!

We have competitive loan plans that adhere to the Moneylenders Act and we make sure you get a customized plan. No matter what your financial situation is, our ultimate goal is to help without adding more trouble for you! Take it from verified reviews on Loan Advisor, Google Reviews, or Business Listings who can attest to our promises and core values which are professional, efficient with client-oriented service."

Under the advertising rules, licensed moneylenders in Singapore are allowed to advertise only through these three channels:

  • Business or consumer directories (in print or online media)
  • Websites belonging to the lenders Advertisements placed within or on the exterior of the moneylender’s business premises. 
  • All other channels are prohibited. Should you receive flyers, SMSes, emails, or other forms of advertisements, these would be from either licensed moneylenders operating in violation of the rules, or unlicensed lenders.

Debt consolidation through personal loans can help your credit scores recover and turn positive once again.

A personal loan is a type of installment loan, which allows you to borrow a fixed amount of money and pay it back with interest in monthly payments. Its amounts vary from lender to lender but what you qualify for is based on your credit health. It’s ideal for medical emergencies, home renovation projects, vacation plans, and other big-ticket expenses.

Yes, personal loans can even be used as expat loans for Singapore expatriates.

While most banks and financial institutions require at least a day for loan applications to be approved, licensed lenders, such as 101 Credit can assure that you can get your cash as quickly as possible! You can get approval for your loan within 30 minutes. However, it’s possible that we may ask for additional documents or information from you, which may affect the length of your loan approval time.

Watch out for these red flags when dealing with moneylenders:

  • Asks for your SingPass user ID and/or password
  • Fails to return your NRIC card or any other personal identification documents
  • Asks you to sign a blank or incomplete loan contract
  • Fails to provide a clear and thorough explanation of the terms and conditions of the loan.
  • Grants you a loan without evaluating your loan application.
  • Grants you a loan through phone, email, or SMS before receiving your loan application form and required documents
  • Withholds any part of your principal loan amount
  • You can report errant moneylenders to the Registry of Moneylenders if you encounter them. Provide information including their business name, license number, and contact details for a prompt investigation.

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