How To Lodge A Complaint Against A Moneylender
March 4, 2026
Key Takeaways
- Borrowers can complain moneylender practices to the Registry of Moneylenders if a licensed lender breaches rules on interest rates, fees, loan contracts, or debt collection conduct.
- Common reasons to complain moneylender behaviour include illegal interest charges, refusal to provide proper loan documentation, or harassment during debt collection.
- To successfully complain moneylender misconduct, borrowers should prepare evidence such as the loan contract, receipts, payment records, and message screenshots.
- Complaints against licensed lenders can be submitted to the Ministry of Law’s Registry of Moneylenders through their hotline or official enquiry portal.
- If investigations confirm wrongdoing, authorities may take enforcement action against the lender, including penalties, licence suspension, or prosecution.
Borrowing from a licensed moneylender in Singapore is regulated by law. But even with these safeguards, borrowers sometimes encounter unfair practices, from unclear loan terms to aggressive debt collection tactics.
If this happens, you have the right to complain about a moneylender through the proper channels.
Singapore’s Registry of Moneylenders under the Ministry of Law (MinLaw) investigates complaints against licensed moneylenders and can take enforcement action if rules are breached. In serious cases, the courts may even set aside loan agreements that are deemed unfair.
This guide explains when you should complain about a moneylender, what evidence to prepare, and how the official complaint process works in Singapore.
Table of Contents
When Should You Complain About a Moneylender?
Before filing a complaint, it is important to confirm whether the lender is licensed or unlicensed.
Licensed moneylenders in Singapore are regulated by the Registry of Moneylenders, which oversees compliance with the Moneylenders Act. Even licensed lenders must follow strict rules on:
- Interest rates
- Fees and administrative charges
- Advertising methods
- Loan contract transparency
- Debt collection conduct
If a licensed lender violates these rules, borrowers can complain to the Registry of Moneylenders for investigation.
Examples of Unfair Practices by Moneylenders
While many licensed lenders operate responsibly, some may still breach regulations. You may need to complain about a moneylender if you encounter situations such as:
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The lender refuses to provide proper loan documentation
Licensed moneylenders must explain loan terms clearly and provide borrowers with a copy of the loan contract in a language they understand.
If a lender refuses to provide the contract or fails to explain key terms such as interest rates or repayment schedules, this may violate regulatory requirements.
The lender charges illegal interest or fees
Under Singapore law, licensed moneylenders can charge:
- Maximum interest rate: 4% per month
- Late interest: up to 4% per month on overdue instalments
- Late fee: up to $60 per month
- Administrative fee: up to 10% of the principal loan amount
Additionally, the total charges, including interest, late fees and administrative fees, cannot exceed the principal loan amount.
The lender withholds part of your loan amount
Moneylenders are only allowed to deduct the loan approval fee of up to 10% from the principal. Any additional deductions without explanation may be unlawful.
The lender behaves in a threatening or abusive manner
Licensed moneylenders must follow strict conduct rules during debt collection. Threatening behaviour, harassment, or abusive language are unacceptable and should be reported to authorities.
The lender asks for sensitive personal information
Moneylenders should never ask for Singpass credentials, internet banking passwords, or retain your NRIC card as a condition of granting a loan.
Licensed vs Unlicensed Moneylenders
Before filing a complaint, it helps to identify whether the lender is licensed.
Licensed moneylenders in Singapore can only advertise through:
- Business or consumer directories
- Their official website
- Signage at their business premises
If you received loan advertisements through SMS, WhatsApp, flyers or social media, they may be from illegal lenders or loan sharks, which should be reported to the police instead.
How to Complain About a Moneylender in Singapore
If you believe a licensed lender has acted unfairly, you can submit a complaint to the Registry of Moneylenders under MinLaw.
Contact details
- Hotline: 1800-2255-529
- Email or online enquiry: via the MinLaw enquiry portal
The Registry treats complaints seriously and will investigate errant lenders. Your identity will not be disclosed to the moneylender without your consent.
Step 1: Try Resolving the Issue With the Lender
Before escalating the matter, it is usually advisable to speak directly with the lender.
In some cases, disputes arise from misunderstandings about repayment schedules or fees. Contacting the lender calmly and requesting clarification may resolve the issue quickly.
However, if the lender refuses to cooperate or the issue involves clear regulatory breaches, you should proceed with filing a complaint.
Step 2: Gather Evidence Before You Complain
The strength of your complaint often depends on the evidence you provide.
Essential evidence checklist
- Copy of the loan contract or Note of Contract
- Receipts or statements of account issued by the lender
- Screenshots of messages, emails, or SMS conversations
- Records of payment transactions
- Notes detailing the timeline of events
- Contact details and licence number of the lender
Providing clear documentation allows the Registry to assess your complaint more efficiently. Keeping proper financial records is also helpful when managing repayment plans for a personal loan with a licensed lender.
Step 3: Submit Your Complaint to the Registry of Moneylenders
- Your name and contact information
- The moneylender’s business name and licence details
- Description of the issue
- Supporting documents and evidence
In some cases, the Registry may ask you to attend an interview with investigators to provide further details about your dealings with the lender.
What Happens After You Complain About a Moneylender?
- Initial assessment of the complaint and supporting evidence
- Investigation into the lender’s conduct
- Interview with the borrower if further clarification is needed
- Regulatory action if violations are found
Errant licensed moneylenders may face penalties, licence suspension, or prosecution depending on the severity of the breach.
How Long Does a Complaint Investigation Take?
There is no fixed timeline because each case depends on its complexity.
- Initial response or follow-up requests within a few weeks
- Investigation period depending on evidence and witness interviews
- Enforcement action if wrongdoing is confirmed
Can the Court Cancel an Unfair Loan?
Yes. In situations where a loan is found to be exorbitant or substantially unfair, borrowers may pursue the matter through:
- The Small Claims Tribunal
- The Singapore courts under the Consumer Protection (Fair Trading) Act
The court has the power to set aside unfair loan transactions.
Tips to Avoid Problems With Moneylenders
Verify that the lender is licensed
Always check the official list of licensed moneylenders before applying for a loan.
Understand the loan contract
Never sign a loan agreement unless the lender has clearly explained interest rates, repayment schedule, and fees or penalties.
Keep records of every payment
Borrowers should retain receipts and statements of account as proof of repayment.
Frequently Asked Questions
How do I complain about a licensed moneylender in Singapore?
You can complain to the Registry of Moneylenders under the Ministry of Law via their hotline (1800-2255-529) or through the MinLaw enquiry portal. Provide supporting documents such as your loan contract and payment records.
Can I complain anonymously about a moneylender?
Your identity will not be disclosed to the moneylender without your consent during investigations.
What if the moneylender is a loan shark?
Unlicensed moneylending activities should be reported to the Singapore Police, as loan shark operations are criminal offences.
Can the government help me negotiate my loan repayment?
The Registry of Moneylenders cannot negotiate loan terms on behalf of borrowers because the loan contract is a private agreement. However, you may seek assistance from credit counselling organisations if you face financial difficulties.
Final Thoughts
Borrowers in Singapore are protected by regulations governing licensed moneylenders. If you encounter unfair treatment, you should not ignore it.
By documenting the issue carefully and following the official complaint process with the Registry of Moneylenders, you can ensure that errant lenders are investigated and held accountable.
If you need financing support from a licensed lender, you can start by submitting a quick application through our online loan application page.
