What A Moneylenders Credit Bureau (MLCB) Loan Information Report Means

Written by 1AP Credit on September 1, 2022

Are you seeking to take a loan or credit in Singapore? If you already have, you may know that your loan amount varies from time to time.

A licensed money lender decides on how much to lend you based on a moneylender report.

This moneylender report is the work of the Moneylenders Credit Bureau (MLCB). It comes up with the Moneylenders Credit Bureau loan information report, which comprehensively summarises an individual’s credit and financial history.

By tracking your credit card usage, the organisation gets an idea of how you use your money and whether you have outstanding debts.

Did you know that an average Singaporean can borrow almost 18 times their monthly income? However, most money lenders don’t proceed with any loan process without the moneylender report from the MLCB.

It is worth noting this report only lies within the MLCB. The moneylender report includes records any bankruptcies and judgments you might have had before, as well as your credit score.

What Is The MLCB?

The Moneylenders Credit Bureau is the central data repository for licensed money lenders and loan borrowers in Singapore.

The Bureau considers the borrower’s financial data and offers it as a reference to the licensed money lenders within the country.

With the information acquired, the money lenders then approve loans or deny them as per the data.

On the other hand, as a borrower, you will have a clear scope of how you handle your borrowed money. With that, you will be able to trace every penny you’ve used.

However, the MLCB does not take into account the borrower’s bank credit facilities or deposits. Neither does it make any lending decisions for the lender or borrower.

How Do I Get My MLCB Report?

You might have to check your MLCB report at least once a year for your financial health.

This will help you identify any discrepancies that might have occurred. It could also protect you from identity theft that would otherwise negatively impact your finances.

You can get your moneylender report at any time for a small fee. It is as easy as visiting MLCB’s website or its offices.

In both instances, you will be asked to fill out a form with your personal information, including your name, contact number, address, and other required information.

You can also access and download the application form from the MLCB website or its offices.

What Does A MLCB Report Include?

You will find your personal and account information and public records in the report.

All public records related to you will be included in the report. An exception would be any records being deleted by court order or request to the creditors in question.

Your account information will include the date it was opened and its status. However, this information may be excluded for accounts over seven years old.

The moneylender report also includes your credit score. This is a four-digit number determined by your credit information – the lower your credit score, the lower your chances of being approved for a loan.

Bankruptcy is also a component of the MLCB report. In Singapore, you have the liberty to file for bankruptcy if you are overwhelmed by debt and can’t pay on time.

This information will, however, remain on your credit report for 10 years, which might affect your chances of getting loans.

You’ll also find civil judgments within the report. This information includes court cases that might have been filed by your creditors seeking payment of overdue payments.

The MLCB report will also include the loan type you took, the outstanding amount, and the total amount payable to any money lender within Singapore.

In that context, your payment status will be disclosed in the MLCB report. Here, you will find all your active debts with regulated money lenders and the time you have to repay them.

Does Buying A Credit Report Affect Your Score?

Buying your credit report doesn’t affect your credit score in any way.

The number of times you purchase your credit score within a year will give you information on where you stand with regard to your credit score – and nothing more.

In short, buying your credit report does not improve your creditworthiness.

If you’ve applied for a credit card and failed to get it, it’s probably because of your credit bureau score. It would be best to buy your credit report regularly to know where you stand.

Reviewing your credit score now and then ensures that the money lenders receive the correct information on your credit score.

You will receive a free moneylender report from three major consumer firms every 12 months.

However, you need to note that the number of bank queries and credit card applications you make within a year will affect your credit score.

The financial institution where you apply for a credit card or new loan will make a “hard inquiry” from the MLCB. This means that it will check your credit score.

The Bureau, on the other hand, will take this information and share it with other money lenders.

What Is A Licensed Money Lender?   

Licensed money lenders are individuals, sole proprietors, or companies that are legally able to provide small loans in Singapore.

For legal approval, any aspiring money lender must first register with the Central Bank of Singapore through the moneylending branch.

Through the Ministry of Law in Singapore, the money lenders must follow all of Singapore’s laws and regulations.

They are authorised to provide fast loans for Singapore citizens, permanent residents, and foreigners with a valid employee pass.

Licensed money lenders often offer small loans since they are primarily small organisations. They are a viable choice if you need an urgent loan of anything from a few hundred dollars to $1,500.

Here are a few perks and downsides of taking a loan from licensed money lenders:


  • The application process is quick and easy, and often can be done online.
  • If you have all the required documents, the approval process is short, with some taking as little time as half an hour.
  • Repayment of your quick loans is flexible according to your financial ability.
  • Sometimes, a poor credit report does not prevent you from getting a loan. Some money lenders might disregard it and grant you the loan if it favours their interests.


  • The loan repayment period of licensed money lenders is often short, with up to 12 months.
  • You might lose track of your borrowing patterns, which will, in turn, affect your credit score.
  • The money lenders have high loan repayment interest rates of up to 4% per month.
  • You are limited to your annual salary when it comes to how much you can borrow.
  • Any late payments could subject you to a court case that will significantly impact your credit score.

What Loans Are Not Reported To The Credit Bureau? 

Every loan you take from a licensed money lender in Singapore is reported to the credit bureau. This includes your credit history, existing loans, and defaulted ones.

However, the report will not include:

  • Personal loans from friends and family
  • Any foreign loans
  • Mortgages from banks and building societies
  • Duly paid student loans and grants
  • Self-employed workers and contractors

How Do I Get My Credit Score?

As a Singapore citizen, you can choose to get your report as a free or paid option.

The most common method is buying your credit score. You will have to send an online application to the Central Bank of Singapore.

This will set you back around $6.40, but it is the most reliable way to get your credit score.

On the other hand, you can get free credit reports, which you can get in one of the following ways:

  • When applying to a credit facility for a wedding loan, vehicle financing, or personal loan, you are entitled to a free credit report during the process. This happens whether the report has been authorised or not.
  • You can also get a free moneylender report from each of the three consumer reporting companies once a year. With that report, you can verify and assess your borrowing details, and find out how accurate and thorough the credit information in the report is.

What Is A Good Credit Score? 

A good credit score is a high enough score that can qualify you for a favourable loan that you would need.

A higher credit score will give you a chance for better loan terms and lower interest rates from money lenders.

You need to manage your loan intake and pay it on time to get a good credit score. Any negative information on your credit score may lower your credit score.

So any late payments or too many loan applications made within a short period will lower your credit score.

A low credit score is between 1,000 to 1,723. A good credit score, on the other hand, is between the latter and 2,000.

With 1,000 being the lowest, it is likely that you have made too many loan applications, most of which will be declined.

If you are wondering what a good credit score in Singapore is, 2,000 or any number near that represents good financial management.

With such a score, more money lenders will trust that you will make timely loan repayment, and as a result, give you better rates and considerable payment deadlines.


By now, you must clearly understand what a Moneylender Credit Bureau Report is.

So the next time you are looking to apply for a quick loan, remember to check your credit score and be careful to keep it high.

For any assistance concerning credits and loans, 1AP Capital is a worthwhile option.

Here, you can get more information on loans and credit. You can also get fast and manageable loans based on the helpful advice of our friendly loan advisors. Apply for a loan now.

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