Never a loan shark
Every lender on Credible.sg is checked against the Ministry of Law registry before they can reach you.
Short on cash until your next payday
Payday Loan Singapore: Compare Short-Term Cash from Licensed Lenders
There is no separate "payday loan" licence in Singapore. What people search for as a payday loan is a short-term, small-amount loan from a licensed moneylender, regulated by the Ministry of Law and capped by law at 4% interest a month. Credible.sg is a loan-matching platform, not a lender: we match you with licensed moneylenders for a short-term loan, so you never have to deal with an unlicensed lender.
- Short-term, small-amount loans from licensed moneylenders only, never loan sharks
- Compare interest rates, fees, and repayment terms from multiple licensed lenders side by side
- Applying is free, takes about five minutes, and you are never obligated to accept an offer
Photo for illustration purposes only.
100% licensed lending partners, zero loan sharks
< 5 min to complete one application
S$500–20k typical short-term loan amount
S$0 cost to compare offers
How it works
From one application to money in hand
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Apply once, online
Tell us how much you need until your next payday. It takes about five minutes and costs nothing.
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Get matched with licensed moneylenders
We send your request to licensed lending partners whose criteria fit small, short-term loans.
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Compare offers, not just the first one
Review interest rates, fees, and repayment schedules side by side before committing to a short-term loan.
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Verify your identity and receive funds
Accept the offer you like, verify your identity in person with the lender, and many licensed moneylenders disburse the same day.
Plan before you borrow
Estimate your monthly repayments
Move the sliders to get a feel for what a loan would cost each month. The calculator tops out at 4% a month because that is the legal cap for licensed moneylenders in Singapore. Your actual offers will state their exact rates and fees.
Get real offers insteadGet A Credible Loan
Estimated Monthly Payment SGD 337
What a short-term loan actually costs
Licensed moneylender rates for short-term loans
A licensed moneylender is the closest legal equivalent to what people search for as a "payday loan" in Singapore. Every rate and fee is capped by law, unlike an unlicensed lender, whose terms protect nobody.
| What you compare | Legal cap | Why it matters |
|---|---|---|
| Interest | Up to 4% per month | Applies no matter your income or credit profile, set by the Ministry of Law |
| Late interest | Up to 4% per month on overdue amounts | Only charged if you miss a repayment, on top of standard interest |
| Admin fee | Up to 10% of the principal, one-time | Charged once when the loan is disbursed, not on every instalment |
| Late fee | Up to S$60 per month overdue | A fixed fee for each month a repayment is late |
These are the legal maximums set by the Ministry of Law, not a quote. The total of all interest, fees, and late charges a licensed moneylender can ever charge you is capped at the amount you originally borrowed. Before signing anything, check the lender on the Ministry of Law’s public Registry of Moneylenders. Never borrow from an unlicensed lender.
Who can apply, and what you will need
You can apply if you are…
- At least 21 years old
- Singapore Citizen, Permanent Resident, or a foreigner holding a valid employment pass
- Some form of regular income; licensed moneylenders assess your ability to repay a short-term loan, not just your credit score
Documents to have ready
- NRIC or passport
- Recent payslips or proof of income
- Proof of residential address, such as a utility bill or tenancy agreement
Why Credible.sg
Borrowing, with the guesswork removed
Rates capped by law
Licensed moneylenders cannot charge more than 4% interest a month, whatever your situation. Unlicensed lenders answer to no one.
Fast enough for an actual emergency
Applications take about five minutes, and many licensed moneylenders disburse the same day once you accept an offer.
Is there such a thing as a "payday loan" in Singapore?
Not as a distinct, licensed category. Some countries license payday lenders separately from other short-term lenders; Singapore does not. The closest regulated equivalent to what people search for as a payday loan is a short-term loan from a licensed moneylender, regulated by the Ministry of Law.
Searching "payday loan Singapore" online can surface unlicensed operators posing as fast, no-questions-asked lenders. These are illegal loan sharks, not a legitimate financing option, and their terms are not protected by any regulation.
How to tell a licensed moneylender from a loan shark
A licensed moneylender appears on the Ministry of Law’s public Registry of Moneylenders, operates from a registered business premises during set hours, and cannot advertise via unsolicited SMS or messaging blasts, or through unlicensed referral agents.
Licensed moneylenders cannot threaten you, use aggressive collection tactics, or ask to hold your NRIC or SingPass credentials. Any lender asking for an upfront "guaranteed approval" fee before you have even signed a loan contract is a red flag, licensed or not.
Using a short-term loan responsibly
Borrow the smallest amount for the shortest tenure you can comfortably manage, and understand the full repayment schedule and effective interest rate before you sign.
Avoid rolling a short-term loan into a new one just to cover the previous repayment. That pattern compounds interest and fees quickly and is how a manageable gap turns into a much larger debt problem.
Common questions
Payday Loan FAQs
Still unsure about something? Message us on WhatsApp and a real person will walk you through it.
Is a payday loan legal in Singapore?
There is no licensed "payday loan" category in Singapore. The legal, regulated equivalent is a short-term loan from a licensed moneylender, capped by law at 4% interest a month. Anything offered outside that licensed system is illegal.
How fast can I get a short-term loan?
The application takes about five minutes, and offers can arrive the same day. Many licensed moneylenders disburse the same day once you accept an offer and verify your identity.
What is the maximum interest I can be charged?
By law, a licensed moneylender can charge at most 4% interest per month, 4% late interest per month, a one-time admin fee of up to 10% of the principal, and late fees of up to S$60 a month. Total charges can never exceed the amount you originally borrowed.
How do I know a lender is licensed and not a loan shark?
Check the lender against the Ministry of Law’s public Registry of Moneylenders. Every lending partner on Credible.sg has already been checked against it before they can reach you.
Can I get a short-term loan with bad credit?
Possibly. Licensed moneylenders weigh your current ability to repay more than your credit score alone, though a weaker profile usually means smaller offers or higher rates.
Is it safe to apply through Credible.sg?
Yes. Credible.sg is a loan-matching platform run by Simple Stack Pte Ltd. We are not a lender ourselves. The financing always comes from licensed lending partners that we have vetted. Applying is free, and you never have to accept an offer.
Learn with Credible
Guides to read before you borrow
Emergency Loan Singapore: Compare Fast Cash from Licensed Lenders
Read the guide →Personal Loan Singapore: Compare Offers From Licensed Lenders
Read the guide →Lowest Moneylender Rates in Singapore — From 9.6% PA
Read the guide →Debt Consolidation Loan Singapore: Combine Your Debts, Find the Lowest Rate
Read the guide →Understanding Your Credit Score in Singapore: CBS Explained
Read the guide →Browse by topic
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Need cash before your next payday?
Compare short-term loan offers from licensed moneylenders only. One free application, zero obligation, and never a loan shark.
