How to Improve Your Credit Score in Singapore: CBS & MLCB Guide (2026)
Key Takeaways Singapore has two separate credit systems: CBS (Credit Bureau Singapore) for banks, and MLCB (Moneylenders Credit Bureau) for licensed moneylenders — improving one does not automatically improve the other Your CBS credit grade runs from AA (lowest risk) to HH (highest risk) — most banks want BB or better before approving a personal […]
How Much Can You Borrow From a Licensed Moneylender in Singapore? (2026 Guide)
Key Takeaways MinLaw sets two income tiers that determine your borrowing cap from licensed moneylenders Annual income below $20,000: maximum $3,000 combined across all licensed moneylenders Annual income $20,000 and above: maximum 6 times your monthly income combined across all licensed moneylenders The cap applies to your total outstanding balance across every licensed moneylender, not […]
What Is a Wedding Loan and How Does It Work
Planning a wedding is one of the most exciting milestones in life, but it also comes with significant financial commitments. From booking a venue to securing vendors and planning a honeymoon, costs can quickly add up. For couples who need extra financial support, a wedding loan can be a practical solution. Understanding how it works, […]
Renovation Budget Breakdown: Where Your Money Actually Goes
So, you’ve finally collected the keys to your new home, or perhaps you’ve decided it’s time to give your current space a long-overdue facelift. Congratulations! Now comes the part that keeps most Singaporean homeowners up at night: the budget. In Singapore, a standard BTO renovation can range anywhere from $40,000 to $80,000, while resale flats […]
Does Applying for a Loan Affect Your Credit Score in Singapore?
Key Takeaways Every bank loan application in Singapore triggers a hard credit inquiry on your CBS report, and lowers your credit grade Hard credit checks are recorded on your CBS report and are visible to other lenders for up to 2 years CBS (Credit Bureau Singapore) and MLCB (Moneylenders Credit Bureau) are two completely separate […]
Personal Loan for Self-Employed in Singapore: The NOA Guide (2026)
Key Takeaways Banks typically require 3 months of computerized pay slips, most self-employed borrowers cannot provide these Your IRAS Notice of Assessment (NOA) is the primary accepted alternative for proving income as a self-employed applicant Banks usually require 2 years of NOA to establish average annual income for self-employed borrowers April is Singapore’s tax filing […]
Bank Loan Rejected in Singapore? What to Do Next (2026)
Key Takeaways Bank loan rejected in Singapore are most commonly caused by three things: CBS credit grade, debt-to-income ratio, and too many recent applications Every bank loan application triggers a hard credit inquiry that is recorded on your CBS report and visible to other lenders Your CBS credit score runs from 1,000 (highest risk, grade […]
5 Ways a Loan Matching Platform Secures You the Best Rates in Singapore
In the heart of Singapore’s “Smart Nation” era, the way we handle money has evolved – so why hasn’t the way we borrow? Traditional borrowing often feels like an outdated chore: juggling dozens of open browser tabs, deciphering complex jargon, and wondering if you’re actually getting a fair deal or just the first one you […]
Personal Loan vs Line of Credit: Which Is Better for Your Situation?
When you’re facing a major financial crossroads—whether it’s consolidating high-interest debt, finally renovating that outdated master bath, or preparing for life’s “just in case” moments—the biggest hurdle isn’t usually finding the money. It’s choosing the right shape for that money to take. At Lendify, we see it every day: borrowers who are paralysed by choice. […]
MLCB vs CBS Singapore: The Difference Every Borrower Must Know in 2026
Key Takeaways Singapore runs two separate credit systems: CBS for banks, MLCB for licensed moneylenders The two systems are legally air-gapped, bank history is invisible to moneylenders; moneylender history is invisible to banks Since July 2021, CBS (the company) operates the MLCB on behalf of MinLaw, same operator, two entirely separate databases A poor CBS […]