Moneylenders Act (Cap. 188): Primary legislation governing money lending in Singapore. Covers licensing requirements, interest rate caps, and prohibited lending practices.
Moneylenders Rules: Subsidiary legislation providing detailed regulations for implementing the Moneylenders Act, including specific operational requirements and restrictions.
Banking Act (Cap. 19): Regulates banking institutions in Singapore, including their consumer lending activities and compliance requirements.
Consumer Protection (Fair Trading) Act (Cap. 52A): Ensures fair trading practices and protects consumers against unfair practices in lending transactions.
Unfair Contract Terms Act (Cap. 396): Controls the use of unfair terms in consumer contracts, including loan agreements.
Contracts Act (Cap. 53): Provides the basic legal framework for contract formation and enforcement in Singapore.
Interest Act (Cap. 173): Governs the charging and calculation of interest in loan transactions.
Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data in loan agreements and related documentation.
AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations that must be considered in loan processing and documentation.
Interest Rate Restrictions: Regulatory requirements on maximum interest rates, disclosure of effective interest rates, and compound interest restrictions.
Mandatory Contract Terms: Essential terms that must be included in the loan agreement: principal amount, interest rate, repayment schedule, fees, and early repayment rights.
Consumer Protection Requirements: Mandatory provisions for consumer protection including clear terms, fair dealing, cooling-off period, and prohibition of unfair practices.
Data Protection Requirements: Specific requirements for handling personal data including consent collection, usage limitations, and privacy policy compliance.
