Is JD Credit Legal?
Yes. Moneylending in Singapore is legal when it is licensed, and JD Credit Pte Ltd holds a moneylending licence issued by the Registrar of Moneylenders under the Ministry of Law. Everything we charge and everything we do is governed by the Moneylenders Act 2008 and the Moneylenders Rules.
This page sets out what those rules actually say, because a borrower who knows the rules is a borrower nobody can cheat.
Who regulates us
Licensed moneylenders in Singapore are regulated by the Registry of Moneylenders, under the Ministry of Law. That is a different regulator from the Monetary Authority of Singapore, which supervises banks and finance companies. If a website tells you a moneylender is MAS licensed, that website does not know how this works.
The framework has two parts. The Moneylenders Act 2008 is the statute: it sets out who may lend, what a licence requires, and what happens to those who lend without one. The Moneylenders Rules sit underneath it and set the numbers: the maximum interest, the maximum fees, and the ceiling on total charges.
What we are legally allowed to charge you
These are caps set by law, not prices we chose. No licensed moneylender in Singapore may exceed them, and any lender quoting you more than these is either unlicensed or breaking the law.
| Charge | Legal maximum |
|---|---|
| Interest | 4% per month |
| Late interest | 4% per month, charged only on the amount that is overdue, not on the whole loan |
| Late fee | S$60 per month, and only in a month where a payment is actually late |
| Administrative fee | 10% of the principal, charged once, at the point the loan is granted |
| Everything else | Nothing. No other fee may be charged, other than legal costs ordered by a court. |
| Total ceiling | Interest, late interest, late fees and the administrative fee, added together, can never exceed the principal you borrowed |
Swipe the table sideways to see every column.
That last row is the borrower protection that matters most. Whatever happens, however long a loan runs, the charges cannot grow past the amount you originally borrowed. A loan shark has no such ceiling, which is exactly how an unlicensed debt becomes unpayable.
What we are legally required to do
- Assess whether you can afford to repay before we lend to you
- Explain the terms of the loan to you in person, in a language you understand, before you sign
- Give you a copy of the signed contract at the time you sign it
- Issue you a receipt for every payment you make
- Give you a statement of account when you ask for one
- Keep your information confidential
- Lend only within the borrowing limits set by your income and residency status
What we are legally forbidden from doing
- Advertising a loan to you by SMS, WhatsApp, phone call, email or social media message. Licensed moneylenders may only advertise in three places: their own business premises, their own website, and consumer directories. This is why an unsolicited loan text is always either a scammer or a lender breaking the law.
- Charging any fee before a loan is granted
- Holding your NRIC, passport, work pass, driving licence or ATM card
- Asking for your Singpass ID or password
- Granting or disbursing a loan entirely online without you attending the office in person
- Harassing you, threatening you, or damaging your property to recover a debt
- Lending you more than the statutory limit for your income and residency status
Your rights as a borrower
You are entitled to be told the exact total you will repay before you sign, not after. You are entitled to a copy of your contract. You are entitled to a receipt for every payment. You are entitled to a statement of account on request. You are entitled to repay early, and at a licensed moneylender there is no penalty for doing so. And you are entitled to complain about us to the Registry of Moneylenders if we fall short.
What happens if you borrow from an unlicensed lender
Borrowing from an unlicensed moneylender is not a lesser version of borrowing from a licensed one, it is a different thing with none of the protections on this page. There is no cap on what you can be charged, no contract you can rely on, no receipt trail, no regulator, and no limit to how the debt is collected. If you are already in that position, call the Police at 1800 255 0000 or the X Ah Long hotline on 1800 924 5664. Being in debt to an unlicensed lender is not itself a crime you will be prosecuted for, and the sooner it is reported the sooner it stops.
Frequently asked questions
Yes, if they are licensed by the Registrar of Moneylenders under the Ministry of Law. Lending without that licence is a criminal offence.
4% per month. Late interest is also capped at 4% per month and applies only to the overdue amount.
No, and no licensed moneylender is. MAS regulates banks and finance companies. Moneylenders are regulated by the Registry of Moneylenders under the Ministry of Law.
Total charges, meaning interest, late interest, late fees and the administrative fee combined, can never exceed the principal you borrowed.
No. Advertising a loan by text, call, email or social media is prohibited. An unsolicited loan message is either a scam or a lender breaking the law.
Report it to the Police at 1800 255 0000 or the X Ah Long hotline on 1800 924 5664. The protections on this page do not exist in an unlicensed loan, and the situation rarely improves by waiting.
Borrowing from a licensed moneylender, not a loan shark
JD Credit Pte Ltd holds moneylending Licence No. 43/2026 issued by the Registry of Moneylenders under the Ministry of Law. We have operated from the same shopfront at Hong Lim Complex since 2010. You can check our licence yourself on the Ministry of Law list of licensed moneylenders before you speak to anyone here.
There are things a licensed moneylender in Singapore is not allowed to do, and knowing them protects you:
- We cannot advertise a loan to you by SMS, WhatsApp message, phone call or social media message. If you received one claiming to be JD Credit, it was not us.
- We cannot ask for any fee before your loan is approved and granted.
- We cannot ask for your Singpass ID or password, and we will never hold your NRIC, passport, ATM card or work pass.
- We cannot approve and disburse a loan entirely online. Singapore law requires you to attend our office in person so the contract and the terms can be explained to you face to face.
- We must explain the terms in a language you understand, give you a copy of the signed contract, and issue a receipt for every payment.
If anything about an approach to you does not match that list, stop, and report it to the Police at 1800 255 0000 or the X Ah Long hotline on 1800 924 5664.
Saturday 11.00am to 4.30pm
Closed Sunday and public holidays
