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Understanding Your Loan Information Report

Loans can come in helpful during times of emergency especially when you are in urgent need to pay off a large sum of bills. Besides common lenders like banks and major financial institutions, you are also able to apply for personal loans with Licensed Moneylenders (LMLs) in Singapore.

Introduction to Moneylenders Credit Bureau (MLCB)

Commencing 1 July 2021, CBS has been designated by the Ministry of Law (MinLaw) as the new operator of the Moneylenders Credit Bureau (MLCB).

MLCB is a central data repository on borrowers' loans and repayment records with LMLs It helps lenders make more informed decisions when considering loan applications by prospective borrowers, and helps borrowers better manage their loans and financial situation. The MLCB does not collect data on borrowers’ bank credit facilities or bank deposit information, nor does it make lending decisions on behalf of LMLs.


What is a Loan Information Report?

Your loan information report is a record of your loan payment history compiled from different LMLs. As these LMLs are required to check your loan credit report to assess your creditworthiness prior to approving the loan, a good loan repayment history or lower aggregate loan cap will make it less challenging for you to qualify for loans. A list of LMLs in Singapore can be found here

By reviewing your report regularly, it allows you to be aware of any incorrect information that is found on your file.

Read further as we address on what information is included in your report and other common questions raised by consumers.

Components of a Loan Information Report

1.     Personal Data and Employment Information

Your basic personal records such as Full Name and ID number, will be reflected on the first section of the report followed by your Employment records and monthly income.


2.     Exclusion List

Self-Exclusion Listing allows individuals to register to be excluded from applying unsecured personal loans from licensed moneylenders (except debt consolidation loans).


3.     Loan Type

This section will exhibit all the existing loans that you own with other LMLs in Singapore.

The report are usually updated on a real-time or “live” basis hence loans repayments may be updated on the following business day.


4.     Payment Status and Legend

The last section will reflect the 12 months repayment status for all existing Unsecured Loans that you have with the LMLs in Singapore.

You may appear to be in a more favourable position to have your loan request approved by the LMLs if you made all timely repayments.



Frequent Asked Questions

1.   How can I improve my credit standing?

Only borrow the sum that you are confident to commit to and repay all your loans on time. Any missed or delinquent payments will be reflected in your loan information report.


2.   How much can I borrow from LMLs in Singapore?

There is no borrowing limit for Secured Loans. For Unsecured Loans, Singapore Citizens and Permanent Residents are able to borrow up to S$3,000 if the borrower’s annual income is less than S$20,000 or up to 6 times the monthly income for annual income of S$20,000 or more.


3.   Will my bank or credit card loans be reflected in the report?

No, only loans data contributed by the list of LMLs in Singapore will be reflected in your loan information report.

More information can be found here.


Borrow Responsibly

Borrowing beyond your means can leave you struggling financially as you go further into debt. Consider all the other existing loans that you have and understand your financial standing before applying for additional loans.

Do not borrow for the sake of repaying another debt as you may risk falling into multiple, bigger debts which makes it even more difficult for you to repay in the future. It is also important to do ample research and clear any doubts with the LMLs before you agree to take up the loans.

Where can I get a copy of my Loan Information Report?

You can purchase a copy of your Loan Information Report at Moneylenders Credit Bureau (MLCB) by clicking here.

Be sure follow and like MLCB Facebook page @MLCBSG for more useful content and tips to maintain a good credit reputation!


This article was contributed by Credit Bureau Singapore.

Published 25 November 2022.