Frequently Asked Questions

  • How do I apply for Personal Loan after clicking “Apply Now”?

  • What can I expect after applying for a loan?

  • How do I re-negotiate my terms with Uniqcash?

  • How do I repay my loan?

  • What should I consider before taking up a loan?

  • How much can I borrow?

  • What are the interest rates moneylenders can charge?

  • What are the fees that moneylenders can charge?

  • How do I know whether a moneylender is licensed or not?

    • Do not borrow from unlicensed moneylenders. Verify that a moneylender is licensed by checking the list of licensed moneylenders. Click here to access the list of licensed moneylenders.

      Notwithstanding that the moneylenders are licensed, be mindful if they:
    • • Use abusive language, or behave in a threatening manner towards you.
    • • Ask for your SingPass user ID and/or password.
    • • Retain your NRIC card or any other personal ID documents (e.g. driver’s licence, passport,work permit, employment pass or ATM card).
    • • Ask you to sign on a blank or incomplete Note of Contract for the loan.
    • • Grant you a loan without giving you a copy of the Note of contract for the loan and/or without properly explaining to you all the terms and conditions.
    • • Grant you a loan without exercising due diligence (e.g. approving a loan over the phone, SMS or email before even receiving your loan application form and supporting documents, such as the income tax assessment and payslips).
    • • Withhold any part of your principal loan amount for any reason.
    • • Such practices are not acceptable. If you encounter them, you should report the moneylender to the Registry of Moneylenders, with information such as the moneylender’s business name, licence and contact numbers. Please see Question 10 for more details.
  • How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?

    • Licensed moneylenders are permitted to advertise only through these three channels
    • • Business or consumer directories (in print or online media);
    • • Websites belonging to the moneylender; and
    • • Advertisements placed within or on the exterior of the moneylender’s business premises. All other channels are prohibited.
    • If you receive flyers, SMSes, emails or other forms of advertisements which are not permitted, these would either be from licensed moneylenders operating in breach of the advertising restrictions, or from unlicensed moneylenders. Hence, you are advised not to respond to such advertisements. Instead, you should report the advertisements by providing us with a proof of the advertisements (for SMS – a screen capture) to the Registry or to the Police.
  • Can I rely on the content of an advertisement to take up a loan from a moneylender?

    • You are advised to seek clarifications on specific terms of the loan contract before signing up with a licensed moneylender, and not to rely solely on the content of advertisements from the moneylender.
  • In the event that I am standing as a surety for a loan, what should I look out for?

  • What should I do after being granted a loan?

    • • Make sure the moneylender delivers to you the correct principal amount of the loan. The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.

      • Pay the loan installments on time to avoid incurring late payment fees and late interest.

      • Make sure the moneylender issues to you a dated and signed receipt every time you repay your loan or pay any fees in cash, and check it for correctness (e.g. name, amount, date).

      • Make sure you receive a statement of account for all your loan(s) at least once every 6 months, and check it for correctness (e.g. name, amount, date); and

      • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.