Moneylenders Act (Chapter 188): Primary legislation governing money lending in Singapore that regulates licensed moneylenders, sets requirements for loan contracts, defines interest rate caps, and establishes borrowing limits
Moneylenders Rules 2009: Subsidiary legislation that details specific requirements for loan documentation, prescribes mandatory contract terms, and sets out prohibited practices for moneylenders
Contracts Act (Chapter 53): General contract law that governs contract formation principles, contractual validity requirements, and contract enforcement provisions
Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data, including requirements for handling borrower's information and consent obligations
Interest Rate Cap: Regulatory requirement limiting maximum interest rate to 4% per month for licensed moneylenders
Cooling-off Period: Mandatory waiting period requirement before loan disbursement to protect borrowers
Note to Borrower: Mandatory document explaining key terms and conditions that must be provided to borrowers
Language Requirements: Contract must be provided in English and the borrower's preferred language to ensure understanding
Administrative Fee Restrictions: Limitations on administrative fees that can be charged by moneylenders
Late Payment Fee Limits: Regulatory restrictions on late payment fees that can be imposed on borrowers
