Our Vision
Orange Credit aims to become the leader in the licensed moneylending industry through excellence in customer service and long-term partnerships with our customers.
Why You Should Choose Orange Credit as Your Licensed Money Lender
1. We listen
Orange Credit seeks to understand your plight and financial situation, delivering and drafting up the best eligible financial plan that is suited to your situation. Even if you have bad credit, we do not reject any applications and seek to offer loans that are tailored to everyone's financial needs.
2. We are trusted and reliable
In the list by Ministry of Law of authorised licensed moneylenders in Singapore, Orange Credit Pte Ltd is one of 156 licensed moneylenders. Our businesses and services strictly adhere to the rules and regulations set by the Ministry of Law. Therefore our services and processes are transparent and fair for all. As a licensed moneylender, we also provide our customers with contracts and receipts for any and all proceedings.
3. Simple loan process
We believe that money lending in Singapore can be extremely complicated for first-time borrower or borrower with bad credit. However, we seek to change that by providing easy and simple loan processes that ensure our customers can receive a loan suitable for their financial situation. This means our professional team can draw up a financial plan that is best suited to your needs.
4. Quick loans
In addition to a simple loan process, we offer quick loans that allow all of our customers to simply grab a fast and easy cash loan when they visit. This saves on financial downtime, will enable customers to receive their financial help earlier, and ensures that it can provide for a suitable loan solution.
5. Consolidate any existing debts or loans
Are you currently undertaking multiple different loans while on bad credit rating? This is where Orange Credit can help with debt consolidation plans. By consolidating and turning all of your loans into a single loan, we can make your repayments easier in the future. Not only that, but due to debt consolidation plans, your credit score will only improve when you repay your debts, making it a win-win for our customers.
6. Wide range of loans for easy eligibility
With up to 6 different loans catered to your financial needs, having easy loan eligibility can make all the difference. Orange Credit provides easy loan eligibility so that all of our customers will be able to obtain a financial plan that is suited for their needs. This includes customers with bad credit rating as well.
What set Orange Credit apart from other Licensed Moneylenders
1. For all new customers coming to Orange Credit, you will enjoy a 14-day Interest Free promotion. That means if you have taken up a loan with us today, and decided to repay the full loan amount within the first 14 days, there will be NO INTEREST charged for this loan.
2. Our professional loan consultant will provide a one to one free consultation for you. You can either arrange for a video conferencing with us or drop by our office. We will sit with you, hear about the challenges that you are facing and give you some truthful advice, at no charge or obligation to you.
3. We provide a well planned debt consolidation loan tailor-made for you. We discuss in details with you to work out your monthly disposable income to ensure that you can have a comfortable and easy monthly repayment. For debt consolidation loan, we provide monthly installment of up to 36 months.
Rules & Regulations for a Licensed Moneylender
As a licensed moneylender that adheres to the rules of the Ministry of Law, there are guidelines required. Below you will find all of the points that can help you differentiate between unlicensed and licensed moneylenders.
1. The maximum interest rate is 4% for personal loan
Did you know that the maximum interest rate that licensed moneylenders can charge is capped at 4% per month? This means no matter what your monthly income may be, licensed moneylenders can only charge you 4% for every month should there be no failure in repayment. Moreover the interest rate is calculated on a reducing balance basis.
2. Late repayment for personal loan
Should you fail to repay your loans on time, licensed money lenders can charge a late interest rate capped at 4% per month on that outstanding late installment and only $60 as a maximum fee for each month of late repayment regardless of the loan amount. This does not apply to any repayments that may have been previously made.
3. Borrowing costs for personal loan
Upon granting a personal loan there is an administrative fee charged not exceeding 10% of the principal loan amount. When borrowing from legal and licensed moneylenders, the borrowing cost should not exceed the original loan amount. When late repayment fees, interest rate charges and administrative charges are added up, they should not exceed the total principal loan amount.
4. Understanding the difference between unlicensed and licensed moneylenders
Licensed moneylenders are offered three channels to advertise their services. As such, it is best to keep yourself informed should you decide to obtain a loan, and you aren't sure if the moneylender is licensed or unlicensed. Here are the three channels you can find licensed moneylenders operating on.
- Business or consumer directories (online or print media)
- Official moneylender website
- Advertisements that are placed near, on the exterior or within licensed moneylender’s business location
If you receive any unsolicited calls, flyers or other types of advertisement that are not part of the three listed above, they could be unlicensed moneylenders or licensed moneylenders violating the laws in Singapore.
