G1. What is a Moneylenders Credit Bureau (MLCB)?
The MLCB is a repository of factual information on all loan applications and repayment records with licensed moneylenders in Singapore.
This information can be accessed only by borrowers, licensed moneylenders, the Ministry of Law (MinLaw) and the Registry of Moneylenders.
G3. What is the role of a Moneylenders Credit Bureau (MLCB)?
The MLCB's role is to provide licensed moneylenders with relevant information to help them assess the credit-worthiness of a loan applicant.
G4. What is a Borrower Credit Report?
A Borrower Credit Report is a record of a borrower's active loans' information as contributed by members of the MLCB. It includes
information on the outstanding payables, and how regularly the borrower makes payments. The Report, if requested by the borrower,
also provides the identity of those licensed moneylenders that the borrower has active loans with.
G5. What information goes into a Borrower Credit Report? How would it affect the borrower?
The Borrower Credit Report will typically comprise the following:
The Borrower's particulars, including name and Identity (ID) Number or Unique Entity Number (UEN)
Loan type, loan tenure, total outstanding principal amount and total amount payable as submitted by MLCB members
Payment Status, which details all active loans the borrower has with MLCB members and the repayment status of each loan
Status of guarantor / surety of any loans
If a borrower makes a loan application to a licensed moneylender, the information above would be taken into account by that moneylender
to determine if he / she will grant a new loan to the borrower.
G6. Is the information in Moneylenders Credit Bureau (MLCB) secure?
All information provided to the MLCB is kept on secured servers. The MLCB also uses a number of measures, such as market standard encryption
technology, to safeguard the information against loss, theft, unauthorised use, disclosure, or modification.
G7. How often is the Borrower Credit Report updated?
The MLCB members generally update their loan records in the MLCB's system on a "live" or real-time basis.
Loan repayments may be updated on the next working day.
G8. How will the Moneylenders Credit Bureau (MLCB) rectify inaccurate information in a Borrower Credit Report? How long will it take?
Upon receiving your feedback on any inaccuracies in a Borrower Credit Report, the MLCB will:
Consult the moneylender(s) that provided the disputed information
Provide an update on the outcome of the investigation within 3 working days
You may send us your feedback online or via email at
G9. Who should I contact for more information?
For enquiries, please contact the MLCB directly via phone or email. Our contact details are as follows
G10. How is a borrower's total amount payable computed?
A borrower's total amount payable comprises outstanding sums from all active loans and Approved-in-Principle Loan Amounts granted by
G11. Who may access the Borrower Credit Reports from the Moneylenders Credit Bureau (MLCB)?
The reports may be accessed by licensed moneylenders, borrowers, MinLaw and the Registry of Moneylenders.
Licensed moneylenders can retrieve a Borrower's Credit Report from the MLCB when the borrower applies for a
loan with them, or if the borrower has an active loan contract with the moneylender.
All borrowers are able to retrieve their own Borrower Credit Report.
MinLaw and the Registry of Moneylenders will have access to all MLCB data.
G12. What is the reserve sum?
The reserve sum is principal loan amount applied by the loan applicant but has yet to be granted by the licensed moneylender.
This reserve sum, when added to the total outstanding principal unsecured loan amount, shall not cause the aggregate unsecured loan cap to be exceeded.
G13. Who may access the reports from the Moneylenders Credit Bureau (MLCB)?
The reports may be accessed by any public individual and entity, licensed moneylenders, MinLaw including the Registry of Moneylenders.
- Licensed moneylenders can retrieve a Borrower's Credit Report from the MLCB when the borrower applies for a loan with them.
- Public individuals and entities are able to retrieve their own Loan Information Report.
- MinLaw including the Registry of Moneylenders will have access to all MLCB data.
B1. Do I need to buy my own credit report when I make a loan application?
No. The moneylender will do so.
B2. How can I improve my credit standing?
You may improve your credit standing by observing these pointers:
Repay outstanding loans on time.
Keep the number of loans and total loan amount manageable.
Do note that loans from moneylenders may be expensive. Therefore, it is not advisable for you to take loans from moneylenders on a regular basis.
B3. How do I purchase my Borrower Credit Report?
You may purchase your Borrower Credit Report via the following methods:
You may proceed to the MLCB website at www.mlcb.com.sg to purchase
your Borrower Credit Report with your credit card and access your Report instantly.
You may visit any of the MLCB's branches to obtain your Borrower
Credit Report. Please note the payment mode for walk-in purchases is by cash-only.
B4. How much does a Borrower Credit Report cost?
A Borrower Credit Report costs SGD1.00 nett.
B5. What should I do if a licensed moneylender who purchases my Borrower Credit Report misuses it?
You should report this to the Registry of Moneylenders, via telephone or email.
Telephone number: 1800 2255 529
Contact Us @ OneMinLaw
B6. I am a guarantor/surety for a loan. Will this be reflected in my Borrower Credit Report?
Yes. This is reflected since a guarantor / surety is legally liable for any unpaid loans.
B7. I am returning to the same licensed moneylender for a new loan. Will the moneylender purchase a
new Borrower Credit Report on me?
Yes. This is because a borrower may have taken a loan from another moneylender and the Borrower Credit Report will be updated to reflect this.
B8. What will licensed moneylenders do with my loan application form / the Borrower Credit Report after obtaining the Report on me?
Licensed moneylenders should retain loan application forms regardless of the loan application outcome for five (5) years.
Licensed moneylenders should not share with or disclose to a third party the details of the Borrower Credit Report.
B9. Why has my total outstanding principal amount changed even though the moneylender rejected my loan application?
Your total outstanding principal amount also reflects Approved-in-Principle loans while the loan is pending final approval.
If you were merely loan shopping, do inform the lender to reject the application so that your total outstanding principal amount will
be updated immediately. Otherwise, this will be updated on the following day.
B10. Why can't I get a loan, even when I do not have any outstanding/active loans?
Your loan application outcomes are decided by the respective licensed moneylender.
Borrowers may also refer to the
Guide to Borrowing from Licensed Moneylenders
found in the Registrar's website for more information.
B11. Will any of my bank loans or credit card transactions appear in my Borrower Credit Report?
No, the Borrower Credit Report will only reflect loan and repayment information with licensed moneylenders in Singapore.
B13. How do I report to the Police if I come across a suspected unlicensed moneylender?
If you suspect that you have been approached by an unlicensed moneylender, please report this to the Singapore Police Force through their online portal – I-Witness at http://www.police.gov.sg/iwitness, or call the anonymous X-Ah Long hotline at 1800-924 5664.
Alternatively, you may lodge a Police report:
ML1. Why should moneylenders retrieve a Borrower Credit Report on a Borrower before extending a loan?
This is to enable moneylenders to to undertake better credit risk assessment before granting a loan.
ML2. If a customer fails to qualify for the loan, should the moneylender keep the application form?
Yes. Licensed moneylenders should retain the loan application form regardless of the loan application outcome for five (5) years.
ML3. Should moneylenders encounter difficulties in retrieving the Borrower Credit Report, should they
proceed to grant the loan?
No. Licensed moneylenders are advised to contact their respective IT vendors to resolve any technical difficulties.
ML4. How long will the Borrower Credit Report be valid?
The retrieved Borrower Credit Report on the borrower is valid only for the day the loan application is made.
Any loan application not processed or approved by 2359hr on that day will be deemed as rejected.
A new Borrower Credit Report on the Borrower should then be retrieved for the grant of the loan.
ML5. How should moneylenders advise their customers upon receiving complaints of inaccuracies in their Borrower Credit Report?
Moneylenders are advised to verify the relevant facts related to the complaint. Should the rectification of the inaccuracy fall within
the moneylender's purview, the moneylender should assist in the amendment. In the case where the origin of the inaccuracy falls
outside the moneylender's purview, advice should be sought from the MLCB.
ML6. Are moneylenders allowed to remove data from the MLCB?
Under no circumstances should moneylenders remove any data from the MLCB.