There are many ways to search for a money lending company in Singapore. A person can look around his area for the company or he can search through internet to find the best money lending company to apply for the loan. It is important for the person to look as many companies as he can before deciding for one company. This will help him to find out how a money lending company works. How much interest rate they charge and what other fees are there to pay to get the loan. Different companies charge different interest rate and the one with minimum interest rate will be the best. The other important thing to look for is whether the company has license or not. It is a condition from the government to get loan from only licensed money lender. For lenders it is important to act only in legal way when loaning money.  The lender can charge late fees in case the borrower does not return the money on time.

It is also the duty of the moneylender to describe the details of the loan, including interest rate, other charges and conditions present in the contract regarding loan. If the borrower does not understand the native language, the terms of the contracts should be explained to him in the language he can understand.  The borrower should not sign any paper or contract with understanding the regulations fully.

The money a person can borrow depends on his monthly income. It also depends on the type of loan for which the borrower is applying. For example if a person is applying for payday loan, his income should be at least $1000. With this income, he can apply for the loan up to $ 500. The borrower should also keep in mind other expenses of the loan he will have to pay such as interest rate, loan approval fee, and late payment charges. If the person is applying for any other unsecured loan, he can get $3,000 for two months, if his annual income is less than $20,000

As mentioned before different companies are charging different interest rates. There not one type of loan in which interest rate is not being charged. This is the most important part of loan. The money lending companies or banks in all over the world are charging inter rate, the difference is that some companies are charging less than others are. It is the duty of the lender to calculate the total interest rate the borrower will be charged on the amount of loan he is getting. It should be mentioned in the contract including the interest rate that is being charged on each installment. In Singapore, lenders can charge up to 13 percent interest on secure loan and 20 percent on unsecure loan if the loan is given for two months. The lender can also charge 4c percent on each late installment.

The lender can charge fee to the borrower in case of late payment, also when he want some changes in the contract. If the borrower wants to end the loan sooner than fixed time, lender can charge some fee, he can also take some fine from the borrower in case of bounced check.