Guide to Borrowing from Licensed Moneylenders

Below is there a guideline that listed in MinLaw website and some question that you may have:

1. What should I consider before taking up a loan?

2. How much can I borrow?

3. What are the interest rates moneylenders can charge?

4. What are the fees that moneylenders can charge?

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

6. How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?

7. Can I rely on the content of an advertisement to take up a loan from a moneylender?

8. In the event that I am standing as a surety for a loan, what should I look out for?

9. What should I do after being granted a loan?

10. How do I lodge a complaint against a moneylender against unfair practices and/or contract?

See the original question and answer at the Ministry of Law Website.