The loan amount will depend on your annual income. A licensed moneylender follows the guidelines set by the Registry of Moneylenders. You can borrow any amount for a secured loan while for an unsecured loan, you may refer to the following:
- If you are a Singaporean or PR with an annual income of less than $10,000 or at least 10,000 and less than $20,000, you can borrow up to $3,000.
- If you are a Singaporean or a PR with at least $20,000, you can borrow up to 6 times your monthly income.