Calls from Money Lenders: Solving the Mysteries Behind Persistent Undesirable Hollers

Singapore’s pulsating and vibrant city-state has a beat that entices everyone but often hides unexpected nuances, like a well-scripted Mediacorp drama. One pertains to the unsolicited calls from money lenders, which have turned everyone’s phones into incessantly loud and active beepers.

As a result, you cannot help but ask yourself why such things are happening. Moreover, you need to find out if the calls are legal.

It’s time to solve the mystery, and t all starts below! Read on now.

The Mystery Callers: Who Are They?

Do you remember those zesty and catchy Chili Crab commercials on TV?

It’s the same as the heavy curiosity that nags when your mobile lights up with calls from unknown individuals. Not knowing you are calling you can give you a pinch of anxiety. 

Of course, you become interested in learning more about the mystery callers and their intentions. And the moment you answered the call, they revealed they are money lenders.

You wonder: Who are these lenders? What’s their agenda? Are they wearing a sinister grin as they dial your number?

Mainly, these callers could be:

Licensed Moneylenders:

These lenders are similar to the 1980s SingTel ad – regulated, trustworthy, steadfast, and respectful. Governed by the Singapore Moneylenders Act, they have the legal authorisation to lend money.

But they cannot and never make cold calls to Singaporean and non-Singaporean potential borrowers. Licensed money lenders could never send unsolicited text messages, as it’s against the Moneylenders Act.

Unlicensed Moneylenders:

Singapore’s unlicensed moneylenders, loan sharks, or Ah Long, are like the Phua Chu Kang episode’s twists – a truthfully unpredictable rogue.

These loan sharks do not honour the Moneylenders Act or Rules. They ignore it like there’s no tomorrow, operate illegally, and use tactics like unsolicited calls from money lenders to lure unsuspecting and vulnerable victims. 

When you see a number you don’t recognise, answering the call is alright. It’s an effective method to diffuse your curiosity and ease your anxiety. And before you receive the call, you should gain more awareness regarding the Moneylenders Act.

So, what is the Singapore Moneylenders Act?

Decoding the Act of Legal Jargon to Shield Yourself from Money Lender Calls

Envision the law as the script to a long-running drama in Singapore. Since the drama series is popular, you must know and learn the characters and understand their motivations. The Singapore Moneylenders Act, crucially, is the screenplay that can assist you through Singapore’s moneylending world.

To be sure of your next move, you must recognise the specifics of a matter like this. Thus, here are the critical aspects of the Act on money lender calls and other details, which includes:

Advertising and Communication:

Like the rules that govern TV advertising, the Act restricts how moneylenders can promote their services. No flyers, text messages, or cold calls are under your door.

It’s simple, right? You could say it’s the same as the favoured Tiger Beer commercial.

Interest Rates and Charges:

The Act ensures moneylenders don’t turn into villainous characters. They can’t charge more than a stipulated interest rate or levy sky-high late payment fees. 

According to the Act, lenders may impose the interest rate on personal loans and various financial products from 1% to 4% maximum monthly, similar to the late interest rate. Administrative fees are restricted at a 10% maximum from the loan principal. For the late fees, it should be at most $60. 

So, now that you know the Act’s aspects, taking a loan or receiving a call from a lender wouldn’t be a problematic experience for you. It’s because you are already aware of the law, and a lender who calls you or imposes high rates are loan shark and must be avoided at all costs.

Unlicensed Moneylenders: The Uninvited Guests

Identical to Phua Chu Kang, who would not appreciate being pestered by a neighbour during a precious soccer game, unlicensed moneylenders are an unwelcome hollering intrusion. These loan sharks function outside the law’s purview; they deploy aggressive tactics like unsolicited money lender calls to ensnare potential victims.

So, the money lender calls are not from licensed lenders in Singapore. ‘Ah Long’ are the complete contrast to legal lenders in Singapore.

And licensed money lenders in Singapore may contact you, which are specific methods. What are these legal ways to reach out to borrowers like you?

Legal Ways of Money Lender Calls to Borrowers

Did you take a loan from a licensed money lender?

If you did, you could anticipate calls from these legal lenders. Authorised money lenders in Singapore may reach out to you when necessary.

It’s like a good StarHub commercial that is clear, informative and doesn’t invade your dinner time. That’s how interactions with licensed moneylenders should be, which include:

In Person or via Registered Mail:

The law is clear as a crisply filmed Caltex commercial – no beating around the bush or sending you cryptic messages.

Singapore’s licensed moneylenders can only reach and contact you in two specifically legitimate ways. These are meeting in person or through a registered post.

During Reasonable Hours:

As advertisements don’t intrude into your late-night move, licensed moneylenders must respect your time. So, you can expect they will not disturb you in ungodly hours and only within an ethical timeframe.

As you’ve assessed the difference between the communication skills of licensed and unlicensed moneylenders, you can become more cautious once you hear your phone ring. You will now beat the scammers at their game.

Beating The Scam Money Lender Calls: What You Can Do

Have you ever seen that awkward twist in a famous drama series from Mediacorp? You may have seen this coming from miles away.

That’s how clear you should be about your response to these particular scam calls:

Reject the Call:

Ignore unsolicited calls like you’d dismiss a ludicrous plot in a flawed drama series.

Report to the Authorities:

If the nuisance persists, don’t hesitate to pull the ‘Police and Thief’ card – report to the authorities. These are notably the Registry at 1800-2255-529 or through the website, and the Singapore Police Force at ‘999’ or the X-Ah Long hotline at 1800-924-5664.

Never Share Personal Details:

No personal information should be shared, no matter how persuasive the caller is. Remember, you are protected through the Personal Data Protection Act (PDPA). Only licensed moneylenders and other authorised entities may utilise your data for specific legal reasons.

Moneylenders’ Compliance with the Moneylenders Act

Remember the smooth, well-regulated flow of the classic Singapore River?

That’s how licensed moneylenders in Singapore function, like Accredit. They strictly adhere to the Moneylenders Act. When you borrow funds from Accredit and other legal moneylenders, it will be a peaceful transaction. It’s as reliable and serene as the river.

Here are more reasons to choose licensed moneylenders and why you won’t get uninvited moneylender calls from them:

Transparent and Legal:

You will never encounter a dramatic twist here. Accredit and other licensed moneylenders play by the rules and ensure your trip is as satisfyingly smooth and enticing as a well-crafted Tiger Beer commercial.

No Cold Calls:

Imagine having a peaceful dinner without being disturbed by annoying ads like those unlicensed money lenders calls. That’s Accredit for you – no unrequested calls, just fair dealings.


Like the cheerful service in the classic Singapore Airlines commercials, Accredit puts your financial necessities and concerns first.

Money Lender Calls: Choose Wisely When Receiving Calls

So, while those money lender calls can appear tempting at first glance as a ‘Great Taste, Less Filling’ Yeo’s drink commercial, remember – your financial well-being is no less dramatic than the astoundingly thrilling saga.

You have the power to turn your financial journey successful. Keep it simple, straightforward, and transparent with licensed moneylenders like Accredit. Why?

It’s because, like the most astonishingly fascinating commercial you’ve seen, the best legal lenders like Accredit will deliver trust, reliability, and genuine solutions for your monetary necessities.

So, why wait?

Connect with the best-licensed moneylenders like Accredit today. Your peace of mind is your ultimate advertisement.

Accredit Pte Limited has 4 locations island-wide, to bring our transparent services closer to you.


Tampines Branch
(+65 6226 2662)
Yishun Branch
(+65 6219 2662)
Hougang Branch
(+65 6245 2662)
Clementi Branch
(+65 6261 2662)

Accredit @ Yishun

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Operating Hours:
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Sat and Sun: 10am – 5pm

Accredit @ Tampines

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Hougang

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Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Clementi

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