Moneylender in Ang Mo Kio

Posted by admin
on February 24, 2017

Quick Credit PTE LTD is a licensed moneylender located at Jurong, we understand the importance of people who really needs several things or in case of emergency. In case you need budget for your wedding, birthday celebration, vacations or even in an emergency situation we provide several moneylender services with low and competitive interest rates.

We also know that people search for a licensed moneylender company that’s reliable and provide low interest rates, especially on some other areas. So Quick Credit decided to provide services in other areas like Ang Mo Kio.

Why Moneylender in Ang Mo Kio?

Quick Credit extends its services to Ang Mo Kio area to provide quality and reliable moneylender services for those people who need personal loans, giving them competitive and low interest rates.

Benefits of Quick Credit personal loans:

  1. Personal loans structured with easy to understand repayment terms.
  2. Flexible loan packages to meet every borrower’s individual needs.
  3. Easy monthly repayment plans that fit one’s paying capacity.

Quick Credit Moneylender Services

  1. Personal Loan is designed to meet your individualistic needs, e.g. money required for home renovation, education, repayments of credit cards or other forms of personal loans.
  2. Bridging loan is a short-term loan, e.g. you are in the process of selling your HDB flat or private property.
  3. Foreigner Loan is designed for the foreigners to meet to your urgent needs while working in Singapore.
  4. Payday Loan is to assist you when there is unexpected expenses.

Advisory On Fake / Scam Quick Credit Websites

We would like to bring to your attention that Quick Credit has been operating at 2 Jurong East Street 21 #04-01A /B since 2010 and our telephone number has remained unchanged at 6899-6188.

Our official website address is:

Please take note the below 2 websites are Fake websites, and we urge our clients to avoid them:

For any further clarifications or changes for the data provided by you and the purposes that it will be used for, you may wish to contact at

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Moneylender Fined for Providing False Information

Posted by admin
on September 21, 2016

The sole proprietor of AS Shalihin Enterprise was slapped with a $28,000 fine for providing false information about his borrowers’ income to the Registry of Moneylenders after being convicted last Friday, 16 September. Tan BN, a licensed moneylender, will be jailed for 56 days if he is unable to pay the fine. This is the latest breach of the regulations after a director of a moneylending business was convicted of 30 out of the 172 charges against him back in June 2016. It was reported by the Registry of Moneylenders that there had been 41 other licensed moneylending offences since 2011.

A fine up to a sum of $40,000 and a jail term of up to two years on each charge can be imposed to those who are convicted of breaches of the Moneylenders Act. Errant moneylenders can find their licences suspended or revoked, as well as their security deposits forfeited. Guidelines and protocols have been put in place by the Registry to ensure that licensed moneylenders do their due diligence in verifying borrowers’ income before loans are granted. They have to also keep documentary proof of the borrowers’ incomes, and such documents may be asked to verify by the authorities during random audits.

Borrowers are reminded to bring along their income documentary evidence, such as payslips, for an assessment of loans. Those who are unable to furnish sufficient income documents may be turned away. Quick Credit may also request for other documents to be submitted for loan assessment. Rest assure that there is confidentiality of information for every loan application. We adhere strictly to the Personal Data Protection Act. Quick Credit will not disclose or misuse any data for inappropriate purposes. For more information regarding what to bring along and what to expect during your loan application or assessment with us, please click on this link or you can also visit our FAQ page for other general questions and questions

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Latest Update on Housing Rules and Measures

Posted by admin
on September 9, 2016

The Monetary Authority of Singapore (MAS) announced on 1 September 2016 on the changes made to the current housing rules and measures. Due to the current Total Debt Servicing Ratio (TDSR) threshold of 60 percent, some borrowers have commented that they are unable to refinance their existing property loans. Accordingly, MAS has fine-tuned the refinancing rules under TDSR framework to allow borrowers more flexibility in managing their debt commitments. However, MAS has indicated that this is not an indication of a property market cooling measure and the TDSR framework and threshold will continue to apply to new property loan applications.

According to the MAS rules, the TDSR must not exceed 60 percent. So now, what exactly is TDSR, you ask? TDSR in a more straightforward term, is how much of your monthly gross income you use to service your debts. Such debts include car loan, renovation loan, credit card loans, loans from banks, licensed moneylenders, etc etc. It also covers loans made jointly with another borrower.

Investment Properties

With immediate effect, for all investment properties regardless of when it is purchased (whether it is before or after the TDSR is introduced), a borrower could refinance his property loan above the 60 percent threshold if he meets two conditions: (1) commits to a debt reduction plan with his financial institute to repay at least 3 percent of the outstanding balance over a period of not more than 3 years; and (2) fulfils his financial institution’s credit assessment. Prior to this broadened concession, a borrower with investment properties may only refinance above the 60 percent threshold provided he commits to a debt reduction plan.

Owner-occupied Properties

MAS has also fine-tuned a second rule. Exemptions for refinancing above the 60 percent TDSR threshold will apply to all owner-occupied residential properties. This applies to all owner-occupied residential properties bought before or after the introduction of TDSR. The TDSR will continue to apply to new property loans.

Quoting Mr. Ong Chong Tee, MAS Deputy Managing Director, “The TDSR is a structural measure to encourage prudent borrowing by households. The adjustments announced today will help borrowers to refinance their existing property loans at lower interest rates and better manage their debt obligations over time. They do not apply to loans for new property purchases and are not an easing of the property cooling measures.”

Readers can obtain this news update at the MAS website

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Loansharking Activities

Posted by admin
on June 3, 2016

In an island wide operation that took place between Monday and Wednesday (May 30 to June 1), one hundred and four suspects believed to be involved in illegal loan sharking activities have been arrested, according to news press reports released by the police today (June 2). The suspects, aged between 18 to 72, were apprehended by the Criminal Investigation Department (CID) and six police divisions in a simultaneous joint raid across various locations in Singapore.

Investigations against all suspects are currently ongoing. It is noted during preliminary investigations that four suspects are believed to be runners assisting in performing ATM transfers or procuring ATM cards for the usage of the loan sharks syndicates. Additionally, three suspects are believed to be harassers whose jobs included paint splashing and graffiti on walls. It has also been reported that one suspect is believed to be involved in providing false contact information during the illegal moneylending from loan sharks. Lastly, the remaining suspects who were arrested are believed to have facilitated in illegal moneylending activities by opening bank accounts and providing the loan sharks with their ATM cards and PIN numbers.

The authorities take a serious view of this matter and have committed to take measures against those involved, regardless of their roles, in these activities. Those found guilty of assisting in unlicensed and illegal moneylending business will be dealt with by the law. Members of the public can call the police at 999 or the X-Ah Long hotline at 1800-924-5664 if they know or suspect anyone involved in unlicensed moneylending. Remember, it is not worth it to get yourself involved in loan sharking activities, whatever your role is with the syndicates. If you are in a dire financial state and have no one to turn to, help is always available. You may wish to contact us and we can refer you to the necessary outlets available.

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Moneylender Scam Alert

Posted by admin
on April 28, 2016

Dear Readers and Customers,

We would like to bring to your attention that Quick Credit has been operating at 2 Jurong East Street 21 #04-01A since 2010 and our telephone number has remained unchanged at 6899-6188. We are a licensed moneylender who abides by the rules of the Registry of Moneylenders and will not resort to sending out SMS/Whatsapp texts to market our services. We are certain that there are unethical people out there making use of our good name to deceive customers that they are our representatives. Thus, this article is just a reminder to all to be careful when dealing with moneylenders who are very pushy with loans. It is also important to be careful and read all terms and conditions clearly; especially when documents are presented to you for your signature, make sure it is legible, properly explained to you, and most importantly, accurate – printed as what had been communicated to you.

We are sure many of us have from time to time received whatsapp texts or SMSes from an unknown number that promotes moneylending services. Some are even dubious foreign numbers with the country code “+86, +81” etc. From time to time too, you might also receive such messages from local numbers. Please be aware that licensed moneylenders are not supposed to market their moneylending services like that, making it very likely that these messages could be from the “Ah Longs”.

We urge all borrowers or potential borrowers to exercise caution when taking up a loan. There are currently only 166 licensed moneylenders registered with the Registry of Moneylenders.

FAQs and important information can always be retrieved from the MinLaw website. And certainly, if you are unsure about your financial status and ability to cope with a loan, feel free to contact us for a non obligatory discussion and we will always do our best to help you address your concerns.
no. business name/address licence no list of valid moneylenders registered in the republic of singapore, as at 01 april 2016 1 101 credit pte. ltd.
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Unlicensed Moneylending

Posted by admin
on March 24, 2016

Unlicensed moneylenders, typically also known as loansharks or “Ah Longs”, are illegal lenders who are not licensed by the Registry of Moneylenders to give out loans. These Ah Longs usually target desperate borrowers who often have no other means of getting a loan approved via legitimate sources. It may seem like a good idea to borrow from an Ah Long if one needs cash just to tie over for a short period of time, but the best advice for dealing with loanshark is “DON’T”. A moment of folly will result in having to pay a far higher price for borrowing from them.

There are several risks involved in borrowing from an Ah Long, as they are known to lend money at unreasonable and unfair terms. The most common examples are the exorbitant interest rates they charge and since these people operate outside the law, threats like splashing paint on doors and walls of the debtors, or intimidation to ensure repayment are common. More examples of such violent harassment acts include locking and setting fire on the debtors’ front doors, scribbling debtors’ personal details on common walls, and damaging properties belonging to the debtors and their neighbours.

The authorities take a very serious view on loansharking activities, and loansharking activities of any nature. Under the Moneylenders Act, a Moneylender’s License from the Registry of Moneylenders is required to operate a moneylending business. Similarly, Licensed Moneylenders have their set of rules and regulations and are required to abide by the law in their moneylending operations. An updated list of licensed moneylenders can be retrieved from the Registry of Moneylenders website. Please click here.  As at 1 March 2016, there are 168 active and valid licensed moneylenders in Singapore.

Remember, the price to pay to borrow from an “Ah Long” is never worth it. There are always alternatives to loansharks. If you are on a low income, have poor credit rating, or you simply just need a small sum of cash to tie over a short period of time, there are still legitimate sources out there you can turn to instead of approaching them.

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Errant Licensed Moneylender Fined

Posted by admin
on February 27, 2016

licensed moneylender moneylender licensed

Another errant licensed moneylender is in the spotlight for charges linked to errant moneylending practices. The owner and manager of licensed moneylending company Skyline Credit were convicted of two out of six charges on Thursday, February 25. Four other similar charges were taken into consideration while sentencing. Both had pleaded guilty in the State Courts.

According to the Registry of Moneylenders, one of the two charges against the owner was for recklessly furnishing false information to the Registrar while the second charge was for granting Singapore borrowers unsecured loans that exceed S$3,000. The press release highlighted that these borrowers have an annual income less than S$20,000. The sole proprietor of Skyline Credit was fined S$13,000, and will face a three weeks jail term if the fine is not paid.

The manager on the other hand was convicted for knowingly furnishing a false document to an officer authorised by the Registrar during an inspection. The document contained a false income statement of a borrower. The manager was sentenced to a S$12,000 fined, and similarly faces a two weeks jail term if the fine is not paid. It is common for the Registry to carry out regular inspections and audits on licensed moneylenders to ensure compliance of moneylending laws. Where breaches of such laws are found, enforcement measures will be taken. These measures include suspension or revocation of licences, forfeiture of deposits, warnings, and prosecutions. More details can be found on the MinLaw website.

Since 2011, the Registry of Moneylenders have reported that there had been thirty-six other moneylenders convicted and fined. The Registry has also confirmed that the moneylending license of Skyline Credit will not be renewed after March 15.

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More on the Moneylenders Credit Bureau

Posted by admin
on February 25, 2016

Personal loan personal loan personal loan

If you read The Straits Times and follow closely to moneylending news, you might have noticed that our very own Quick Credit Director, Ms. Carol Tan, was interviewed for her opinion on the launch of the Moneylenders Credit Bureau (MLCB) in the February 25 The Straits Times copy. Ms. Carol Tan believes that with the MLCB in place, licensed moneylenders are now in a better position to discourage borrowers from over borrowing. She also highlighted that there is a definite chance that the default rate among borrowers will reduce.

Generally, licensed moneylenders are in an unanimous agreement that the credit bureau will be a very helpful platform for them in the long run. With borrowers borrowing loans after loans for the purpose of covering their previous debts, this downward spiral for them might come to a halt. A closer and tighter watch by both the authorities and lenders alike will see borrowers practice better money management.

As part of the tightening controls on moneylending, the bureau was first announced in 2014 that included also the new rule on interest rate of four percent cap. A spokesperson from the Ministry told The Straits Times that it will “monitor the situation for some time” before implementing the mandatory use of the bureau for all loan applications. This gives all licensed moneylenders some leeway to familiarize themselves with the system before it becomes compulsory.

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Credit Bureau for Moneylenders in Singapore

Posted by admin
on February 25, 2016

Moneylender Moneylender Moneylender

The Ministry of Law (MinLaw) has just announced the operations of a credit bureau for moneylenders that will begin on 1 March 2015.

Known as the Moneylenders Credit Bureau (MLCB), its purpose is to help licensed moneylenders assess how creditworthy the borrowers are, as well as to help prevent borrowers from borrowing beyond their capabilities. Going forward, all licensed moneylenders are required to provide details of their loans to borrowers, and also their repayment information to the bureau. The same details can be retrieved by other licensed moneylenders during a credit application process. These borrowers can also access this information.

Without means of knowing if an individual has taken far more loans than he or she can handle, the introduction of this credit bureau tackles the problem of an individual being overstretched by multiple loans from different moneylenders. With this platform, moneylenders can make an informed decision of the creditworthiness of a borrower during the credit evaluation process.

Mr. Billy Lee, founder and executive director of Blessed Grace Social Services has welcomed the introduction of the MLCB. He believes that as the loan information of borrowers become transparent within the moneylending industry, borrowers will be encouraged to better manage their finances, and not to borrow more than they can handle. Moreover, the credit bureau will be used by the MinLaw and the Registry of Moneylenders to better monitor the borrowing and lending activities.

A credit report will cost $0.50 for licensed moneylenders and $1 for borrowers. Information in the report will include:
a) Loan type and tenure, total outstanding principal amount and total payable amount, and
b) Details of all active loans made with licensed moneylenders and the repayment status of each loan.

Mr. Peter Tan, president of the Moneylender’s Association of Singapore opines that the availability of such credit reports not only discourages borrowers from overborrowing, it also helps licensed moneylenders make better assessments during credit applications. This in turn helps licensed moneylenders minimize risks and lower default rates in their business.

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Prosperous New Year!

Posted by admin
on February 5, 2016


The Lunar New Year is fast approaching. Have you stocked up on your new year goodies or changed for new notes at the bank yet? This is the period where families get together and have reunion dinners, and also the practice of giving out red packets for good luck in the coming Monkey year.

Apart from the standard superstitions like not sweeping the floor on the first day of Lunar New Year (as it will sweep away all the luck), to not using knives and scissors as it will cut away all the wealth and fortune. The annual “Li Chun” has hyped up the banks and cash deposit machines all across Singapore. The practice to deposit money into their accounts on Li Chun has gained popularity in the recent years. Some believe that depositing in money will help in growing wealth and ensuring good luck. Some has gone to the extent of checking their auspicious timings and brought along specific amount of money based on the zodiac signs for extra luck.

Li Chun, also known as Farmers’ Day, typically falls around February 4 each year. Farmers are known to celebrate the beginning of Li Chun with special events, worshipping and offerings to the Gods, and praying for a blissful and prosperous new year ahead. The Lunar New Year is also celebrated around this time.

While the younger generation typically do not believe in these do’s and don’ts, such traditions and customs are still widely practiced. It is somehow a way to preserve identity and provide a continuity from the past to the present.

A word of caution: We know that there will always be some form of gambling during the Chinese New Year. We urge all to play with caution and practice responsible gambling. Do not forget that the fun may result in huge debts if one is not careful. This is especially so for problem gamblers who want to try their luck during the festive season. Borrowing money to gamble is not advised. If you need financial counselling or advise, feel free to call us.

Last but not the least, from everybody at Quick Credit Pte. Ltd, we wish a Prosperous Monkey Year ahead。年年有余,身体健康,财源广进!

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