Under the MAS(Monetary Authority of Singapore), all licensed moneylender isn’t allowed to advertise in any form – social media, SMS and flyers.
Most illegal loan sharks will copy a legal, licensed moneylender’s authenticity, so it’s best to verify the license number.
Lastly, the repayment terms are capped at a 4% interest rate for all legal moneylenders. If the application process is unclear with its terms, it’s best to consult a lawyer.
As a customer, you should take extreme precautions when it comes to taking a loan.
i-Credit is an approved licensed moneylender and has served over 10,000+ customers over the past ten years. Click the e-application button below to apply for a loan.