Cash Mart Pte Ltd is one of the very few licensed moneylenders in Singapore that strictly operates independently where clients information are kept fully confidential and not distributed. As a licensed personal loan moneylender in Singapore, we do not advertise nor solicit any advance fees for pre-approved loans through SMS, over the phone or emails. In case of any issues, contact us at 6397-4111 or info@cashmart.sg

Licensed Moneylenders Boon Keng

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Your Application is 100% confidential.

Small Loans, Big Solutions

Access extra cash when you need it the most from your online lending partner.

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Money on Demand

Get your cash in less than 30 minutes after you signed your loan contract with us.

Trusted Transparency

From our online loan calculator to loan contract - we ensure no hidden charges!

Eligibility and Documents Needed
  • Loan applicant must be aged 21 years and above
  • Singapore Citizen or Permanent Resident
  • In employment
For Salaried and Commission-based Employees
  • Identification Card (NRIC)
  • Singpass Login
  • Proof of billing ( Any latest bill indicating residential address)
  • Latest 3 month original payslip (Only applicable if there is no cpf contribution)
  • Letter of employment (Only applicable for new employment)
For Self Employed
  • Identification Card (NRIC)
  • Singpass Login
  • Notice of assessment (NOA indicating trade income)
  • ACRA (Accounting/Corporate Regulatory Authority)
  • Proof of billing ( Any latest bill indicating residential address
For Taxi Drivers
  • Identification Card (NRIC)
  • Vocational license
  • Taxi pass
  • Min 7 days job summary
  • Proof of billing ( Any latest bill indicating residential address)

Boon Keng

One of the subzones in Kallang Singapore is Boon Keng. It is named after a prominent figure, Dr. Lim Boon Keng. 

 

It is enclosedPelton Canal in the north and Sims Avenue in the south. Kallang-Peya Lebar Express Way and Sims Way in the east and Kallang River in the west. 

 

Also, Boon Keng is surrounded by financial facilities that offer different loan products and services. 

 

Licensed moneylenders in Boon Keng give out the best flexible and personal loans.

 

Check out how much you can borrow. 

 

Licensed Moneylenders in Boon Keng allowable Loan Amount

Desperate to fix your financial issue?

 

Resolve it quickly with the instant cash loan from the licensed moneylenders in Boon Keng.

 

Are you aware that there is a loan amount limit?

 

You read that right. Every loan you take is based on your annual income. 

 

For better understanding, here is a thorough discussion. 

 

Unsecured Loan

Singapore Citizens, permanent residents, and foreigners residing in Singapore are entitled to take out a personal loan. 

 

Licensed money lenders in Boon Keng offer unsecured personal loans. You can borrow money without using collateral. 

 

But, there is a ceiling loan amount you can take. It depends on your yearly income. 

 

Below is the elaboration. 

 

Every Singaporean and permanent resident who earns: 

 

  • less than $10,000, they can borrow up to $3,000

  • at least $10,000 and less than $20,000, they can borrow up to $3,000

  • at least $20,000, they can borrow up 6 times their monthly income. 

 

Every foreigner residing in Singapore who earns:

 

  • less than $10,000, they can borrow up to $500

  • at least $10,000 and less than $20,000, they can borrow up to $3,000

  • at least $20,000, they can borrow up 6 times their monthly income. 

 

Are you a permanent resident that earns $9,000 annually? You’re allowed loan amount is $3,000. 

 

If you borrow from Lender A $1,000 and plan to take another loan from Lender B. The remaining loan amount you can take is $2,000. 

 

Be reminded of the importance of paying off your total loan amount on time. This cleans out your record. Without an outstanding credit, you can take a new loan based on your ceiling amount. 

 

Secured Loan

Secured personal loans by the licensed moneylenders in Boon Keng is very simple. 

 

They lend you money on behalf of collateral. The allowed loan amount is based on the value of your property. 

 

Therefore, you can obtain any loan amount. 

 

Be careful though. There is a high risk of losing your property if you fail to pay back on time. 

 

Licensed moneylenders in Boon Keng value their borrowers. They understand the need for instant money. Moreover, they need to protect their company. They should follow the maximum loan amount per borrower according to the Ministry of Law.

 

Licensed Moneylender in Boon Keng

Payments charged by the Licensed Moneylenders in Boon Keng

There are other fees included when you take out a secured loan from legal lenders.

 

These must be settled together with your principal loan amount. 

 

As a safeguard to borrowers, the Ministry of Law permits certain fees to be charged. These are as follows. 

 

Interest Rate

On October 1, 2015, the maximum interest rate to be charged is 4% per month. Regardless of the borrower’s annual income and type of loan they applied. 

 

If you fail to pay on time, you’ll be charged up to a 4% interest rate for every late repayment monthly. 

 

For example, you’re not able to repay on time in July but settle on time in August. You’ll have an interest rate charge for July while your due amount in August stays the same. 

 

Do you want to understand how the interest rate is computed? 

 

The interest rate charged on the loan is based on the principal amount after deducting from the original principal total payment by the borrower. 

 

Borrower A took a personal loan of $10,000 then repaid $4,000. The remaining $6,000 is taken into account for the interest computation. 

 

How to compute the late interest? 

 

The late interest rate is only charged on the amount with late repayment. Licensed moneylenders in Boon Keng do not charge on the outstanding amount that is not due yet. 

 

Borrower A took a payday loan of $10,000. Failed to repay on the first installment of $2,000. The reputable lender can charge a late interest of $2,000. However, the remaining $8,000 is not affected as it is not due yet. 

 

Other fees

Aside from the interest rate, a licensed moneylender is only allowed to impose certain charges. These are: 

 

  • Late repayment fee - not exceeding 60$ each month

  • Processing fee - not exceeding 10% of the principal loan amount, once the loan is approved

  • Legal costs - dictated by the court for every successful claim by the moneylender for the recovery of the loan. 

 

It gives you a safety net as a borrower. 

 

Any licensed lender can only impose to charge the following: interest rate, late interest, upfront administrative fee, and late fee. But these should not be more than the principal loan amount. 

 

For instance, Borrower A has a short-term loan of $10,000.  In this loan, the interest rate, late interest, the 10% administrative fee, and the monthly $60 late fee should not exceed $10,000. 



Being knowledgable about all the fees and how to properly calculate is an advantage. It saves you from unlicensed moneylenders and loan sharks. When you inquire to the licensed moneylenders in Boon Keng, you’ll; fully understand the importance of taking unsecured personal loans. They will also elaborate on your options and payment schemes. 

 

Contact them now and get amazing loan products and services.

 

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