Frequently Asked Questions

FundBright is a personal loan comparison platform in Singapore. It is not a lender. FundBright connects borrowers with licensed moneylenders who compete to offer the best rate, using a commission model where lenders pay less when they offer lower rates.

No. FundBright runs one soft enquiry at the comparison stage. A soft enquiry does not affect your credit profile. A hard pull happens only when you provide consent, during your in-person appointment at the lender’s approved place of business.

FundBright charges the borrower nothing. No comparison fee, no application fee, no processing fee, no success fee. FundBright is paid by the lender on disbursement through the inverse commission model.

Yes. Every lending partner on FundBright is licensed under the Moneylenders Act Cap. 188 and verified against the MinLaw Registry. FundBright processes your data under the Personal Data Protection Act (PDPA). Your information is shared only with the lenders matched to your application.

Lenders in FundBright’s network review your application and return personalised offers based on your profile. You compare the offers and choose the one that works for you. If you accept, FundBright helps you schedule the in-person identity verification required by the lender. You stay in control at every step.

You apply to a licensed moneylender. On approval, borrowers receive a lump sum, repay in fixed monthly instalments over an agreed tenure, and pay interest calculated on the outstanding principal. Licensed moneylenders are capped at 4% p.m. interest plus a 10% admin fee under the Moneylenders Act Cap. 188. FundBright compares offers across its lender network so you see which lender gives you the lowest cost, not which lender pays the platform the most.

An unsecured loan is one where the borrower does not pledge collateral such as property or a vehicle. All personal loans from licensed moneylenders in Singapore are unsecured. The lender’s risk is priced into the interest rate, which is why rates vary by borrower profile.

Banks typically require a minimum income of S$20,000 to S$30,000 per annum and apply internal credit scoring. For licensed moneylenders, the hard cap is 6x your monthly income across all licensed lenders combined, enforced by the Registry of Moneylenders.

The rate depends on your income, outstanding borrowing, and the offers returned by matched lenders. FundBright’s commission is inverse: lenders who quote lower rates pay less, so matched lenders are structurally rewarded for offering competitive rates rather than ceiling rates.

FundBright is a comparison platform. Every lender in the network is a licensed moneylender under the Moneylenders Act Cap. 188. The final loan grant comes from the matched lender, issued in person at the lender’s approved place of business. FundBright does not grant loans.

Yes. Under the MinLaw Registrar’s Directions, licensed moneylenders must meet you in person at their approved place of business before granting a loan. That is not a FundBright requirement, it is what separates a licensed moneylender from a loan shark. FundBright facilitates the handover and helps you schedule the visit.

Yes. This is the core income band FundBright is built for. At the 6x aggregate loan limit, S$3,000 monthly income translates to roughly S$18,000 in borrowing capacity across all licensed lenders combined. S$4,000 monthly income translates to roughly S$24,000.

You are declined. The 6x monthly income cap is enforced across every licensed lender at any one time. FundBright does not reroute, restructure the application, or find a way around the cap. The cap is the cap.

No. Licensed moneylenders are regulated by MinLaw under the Moneylenders Act Cap. 188. Banks are regulated by the Monetary Authority of Singapore (MAS). Different statute, different permitted fees, different application process.

FundBright is the only platform in Singapore where the lender’s commission drops when the lender offers the borrower a lower rate. On every other platform, the lender pays the same fee regardless of the rate quoted, so pricing at the ceiling is the rational response. FundBright’s inverse commission removes that incentive. The result: what you see is closer to a lender’s actual best offer.

No. FundBright follows PDPA-compliant routing. At the comparison stage, your request is anonymised, so lenders receive only the details needed to quote a rate. Only when you choose to proceed with a specific lender does that lender receive your full profile.

Debt consolidation combines multiple existing debts into a single loan with one monthly repayment. The goal is a lower rate than the weighted average of the existing debts, reducing both complexity and total interest paid. In Singapore, banks offer DCP under MAS Notice 635. Licensed moneylenders offer consolidation facilities under the Moneylenders Act Cap. 188.

Bank DCP rolls qualifying unsecured debts into one bank facility at a lower rate. Eligibility requires total unsecured debt above 12x monthly income, the entry floor. For borrowers whose aggregate falls under that floor, licensed-moneylender consolidation via FundBright is the alternative: one soft enquiry, one consolidated facility, inverse commission giving lenders a reason to quote below the 4% ceiling.

A Debt Management Programme (DMP) is administered by Credit Counselling Singapore (CCS). It negotiates lower repayments with creditors without issuing a new loan. Consolidation replaces multiple debts with one new facility at a lower rate. Different tools, different mechanisms.

Consolidation reduces the number of repayments and, when the new rate is lower than the existing rates, reduces total interest paid. The question is whether you qualify for the right route. If your aggregate unsecured debt sits below 12x your monthly income, bank DCP is unavailable. FundBright’s licensed-moneylender comparison is the alternative route for borrowers excluded by the entry floor.

A consolidation loan replaces multiple debts with one facility. The original debts appear as settled on your credit record, leaving fewer open obligations, not more. The soft enquiry at the comparison stage does not appear on your record. A hard pull happens only after you accept an offer and proceed with a specific lender.

MAS Notice 635 requires a borrower’s total unsecured debt across all financial institutions to exceed 12x their monthly income to qualify for a bank DCP. A borrower earning S$3,500 per month qualifies only with more than S$42,000 in aggregate unsecured debt. Near-prime borrowers carrying multiple ceiling-rate obligations whose total sits below that floor are excluded. That is the gap this page exists to address.

No. The ABS DCP framework sets the annual income floor at S$20,000. The S$30,000 figure is a bank-applied policy used by some (not all) participating banks. The figure matters when you apply, but it is not part of the MAS / ABS regulatory framework.

Licensed moneylenders do not offer ‘DCP’ per se. DCP is a bank-specific product under MAS Notice 635. Licensed moneylenders offer consolidation facilities that achieve the same outcome: multiple debts rolled into one repayment at a lower rate. FundBright compares these offers across its network.

DCP is a bank product governed by MAS Notice 635 and the ABS framework. It requires your total unsecured debt to sit above 12x your monthly income before you qualify. Moneylender consolidation via FundBright operates under the Moneylenders Act Cap. 188 and the standard 6x aggregate loan limit. Different regulatory frameworks, different eligibility rules.

A renovation gap loan is a personal loan that covers the shortfall between the bank renovation loan cap (typically S$30,000) and the actual renovation cost. It is a licensed-moneylender facility under the Moneylenders Act Cap. 188, separate from and complementary to the bank renovation loan.

Most bank renovation loans cap at S$30,000. DBS, OCBC, UOB, and Maybank confirm this in their published product terms. Some banks offer up to S$50,000 with stricter income thresholds or specific renovation packages.

A renovation gap loan is a personal loan used for a specific purpose: covering the renovation shortfall beyond the bank cap. It operates under the same Moneylenders Act Cap. 188 rules as any licensed-lender personal loan. The difference is the purpose and the loan matched to renovation costs.

Fill in the form on this page. Enter your income, loan amount, and purpose. FundBright runs one soft enquiry across the lender network. The best offer lands in your inbox within 24 hours. No hard pull at the quote stage.

Not necessarily. The conditional offer is based on the information you provide at the quote stage. If those details are accurate, the final offer at your in-person appointment will match. Where they differ, it is usually because your borrowing position changed between quote and verification, or because the information provided at application did not match what the lender confirmed in person.

Inaccurate information provided in an application can result in a different final offer, such as a lower approved loan amount or a higher rate. Common reasons include underdeclaring existing loans with other licensed lenders, taking out another loan after receiving your FundBright quote but before completing in-person verification, overstating monthly income, or not declaring a bankruptcy proceeding.

FundBright schedules the in-person visit at the lender’s approved place of business. The lender performs identity verification, finalises terms, and disburses the loan. Full KYC happens there, not on the web form.

Offers from multiple lenders arrive within 24 hours of submission. Each lender provides one quote, one rate, and one set of terms. Compare and choose the one that works for you.