Personal Loans

FundBright is a personal loan comparison platform in Singapore operating under an inverse commission model. Licensed moneylenders in the FundBright network pay a lower platform fee when they offer borrowers a lower interest rate under the Moneylenders Act Cap. 188 ceiling. The lender that prices lowest pays the least commission and wins the borrower.

The Moneylenders Act caps the one-off admin fee at 10% of the principal, applied uniformly regardless of borrower profile. A borrower with strong income and a clean repayment history pays the same 10% admin fee as a first-time borrower at higher risk. The fee does not move with risk because it is a fixed charge. Flat-commission comparison platforms replicate that structure at the distribution layer: the lender pays the same finder’s fee whether it quotes 2% or 4% p.m.. Since that cost is fixed, pricing below the ceiling costs the lender margin without reducing its platform fee. The ceiling quote is the rational response from lenders.

FundBright’s commission is not fixed. It falls when the lender’s rate falls. A lender that prices at sub-ceiling rates pays FundBright less than a lender that prices at the ceiling. Pricing below the ceiling now has a financial incentive on the lender’s side. No priority, no favourites. Best offer wins. You stay in control.

Personal Loan Comparison in Singapore is a regulated matching process bounded by the Moneylenders Act Cap. 188, the aggregate loan limit, and the gap between advertised rate and Effective Interest Rate (EIR).

The advertised rate is the monthly interest figure a lender quotes upfront. EIR folds in every permitted charge, the admin fee included, across the full loan tenure, so you see the true annualised cost. The aggregate loan limit caps your total borrowing at 6x your monthly income across every licensed lender at any one time, enforced through the Registry of Moneylenders. Any comparison that ignores either figure is incomplete.

The aggregate ceiling that governs eligibility is explained in full at how the 6x monthly income cap works across all licensed lenders.

How does a personal loan work in Singapore?

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.

Borrowers unfamiliar with personal loans can start at personal loans in Singapore explained.

What is an unsecured personal loan?

An unsecured loan is one where you do not pledge collateral, such as property or a vehicle. All personal loans compared on FundBright are unsecured. The lender’s risk is priced into the interest rate, which is why rates vary by borrower profile and why FundBright’s inverse commission structure makes that difference work in your favour.

How much personal loan can I get from a bank in Singapore?

Banks typically require a minimum income of S$20,000 to S$30,000 per annum and apply internal credit scoring. Borrowing limits depend on the bank’s debt-servicing assessment. For licensed moneylenders, the hard cap is 6x your monthly income across all licensed lenders combined, enforced by the Registry of Moneylenders.

Flat platform commission is a fixed cost that lenders recover by quoting at the regulatory maximum. It is not a reflection of the borrower’s actual credit risk.

Near-prime borrowers in Singapore who use one of the major flat-commission comparison platforms continue to receive quotes at or near the 4% p.m. interest cap plus the 10% admin fee. On a 12-month loan that totals roughly 58% per annum, all-in. Most borrowers assume the rate reflects their creditworthiness. It does not.

Major Singapore comparison platforms charge lenders a flat commission fee regardless of the rate the borrower receives. From the lender’s position, that flat fee is a fixed cost built into every loan. The simplest way to recover it is to price the loan at the regulatory ceiling, for every borrower, every time. The lender is not intentionally penalising you. That is how the math works.

Five different lenders competing on a flat-commission platform still all quote roughly the same ceiling rate because none have any incentive to lower rates to win the loan.

The “comparison” compares five options of the same rate. You see variety in branding. You do not see variety in pricing. The platform’s revenue is the same either way, so the platform has no structural reason to push for a lower quote on your behalf.

The same lender that quotes you the ceiling rate through a flat-commission platform will, in a different distribution channel with a different commission structure, quote you a lower rate.

Your profile did not change. The incentive in front of the lender did. The rate is heavily influenced by commission economics, not just your credit profile.

The rate depends on your profile and the matched lenders’ inverse commission agreements.

A lender who offers you a lower rate pays FundBright a lower commission. A lender who offers a higher rate pays a higher commission. The tiering is on the rate, inverted.

You submit one application online. FundBright runs one soft enquiry across its lender network, no hard pull, no impact on your credit profile at the comparison stage. One enquiry, not five.

Each lender on FundBright commits to the same commission agreement: the lower the rate they offer you, the less they pay us.

A lender that quotes near the ceiling pays a higher commission to FundBright. A lender that quotes a lower rate pays a lower commission. The lender’s economics still work because FundBright shares the upside of a lower rate with them, instead of taking the same flat fee regardless. A lender now has a reason to be the one who offers the lower rate, because the cost of lending to you goes down with the rate.

Under the MinLaw Registrar’s Directions, a licensed moneylender must verify your identity in person at the lender’s approved place of business before granting any loan.

A loan transaction performed fully online is disallowed. Every licensed-lender loan in Singapore has this in-person step. It is what separates a licensed moneylender from a loan shark. FundBright threads that requirement through a four-step flow:

• Online: The comparison, quote, and soft enquiry all happen online. FundBright routes you to the best offer in the network.
• Matching: Once you are matched, FundBright helps you schedule an in-person visit with the lender.
• In-person appointment: At the lender’s approved place of business, the lender verifies your identity in person and finalises the loan terms with you directly.
• Funds confirmed: Once the loan is disbursed, FundBright confirms the final terms with both the lender and the borrower. That confirmation is the enforcement mechanism for the inverse commission model. Without it, the inverse commission is no different from the flat-fee model every other platform runs on.

Every lender in the network holds a current licence under the Moneylenders Act Cap. 188.

Every quote stays inside the permitted-fees schedule. Inverse commission does not bend any regulatory cap. It gives lenders an economic reason to price below the cap.

Best offer wins. No priority, no favourites. You stay in control.

Is FundBright a licensed moneylender, or a comparison platform?

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 facilitates the comparison, the soft enquiry, and the handover. FundBright does not grant loans.

Will comparing affect my credit profile?

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.

Does the lender need to verify me in person?

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.

FundBright routes borrowers only to licensed moneylenders under the Moneylenders Act Cap. 188 and never to unlicensed lenders or loan sharks.

The platform is built for two borrower income bands.

Who FundBright Is Built For

The first band of borrowers earns roughly S$2,500 to S$4,000 per month. These borrowers sit at or below most banks’ minimum income thresholds and rely on licensed lenders. At the 6x monthly income aggregate cap, that translates to roughly S$15,000 to S$24,000 of borrowing capacity across all licensed lenders combined.

The second band of borrowers earns roughly S$4,000 to S$7,000 per month. They technically qualify for a bank loan, but profile complications push them into the licensed-lender market: high buy-now-pay-later utilisation, variable income, a stretched debt-servicing ratio, or an existing licensed-lender obligation. At the 6x cap, that is roughly S$24,000 to S$42,000 of capacity.

FundBright also serves borrowers who want a single soft enquiry before any lender runs a hard pull, and borrowers consolidating existing debt (credit cards rolling over month after month or a stack of small licensed-lender loans) into one lower-rate facility.

Who FundBright Is Not For

FundBright does not route to unlicensed moneylenders or loan sharks.

Every lender in the network holds a current Moneylenders Act Cap. 188 licence. There are roughly 153 licensed moneylenders in Singapore and FundBright works exclusively with licensed ones. Borrowers already at or above their aggregate loan limit, the 6x monthly income cap enforced across every licensed lender at any one time, are declined. They are not rerouted, sliced, or creatively structured. The cap is the cap. No offshore or cross-border lending of any kind.

Can I apply if I earn S$3,000 or S$4,000 a month?

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.

What happens if I am already at my 6x monthly income aggregate loan limit?

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.

Is a licensed moneylender the same as a bank?

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 compares across licensed lenders and, when applicable, across banks.

The Moneylenders Act Cap. 188 and the MinLaw Licensed Moneylender Rules cap every permitted charge on a licensed-lender personal loan in Singapore. The full schedule is fixed, statutory, and non-negotiable:

Anything outside this list is not a permitted fee under the Act. A lender that charges any other fee, whether labelled as “processing”, “insurance”, or “service”, is in breach.

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, under the inverse commission model described above. The lender that offers you the lower rate pays FundBright the lower commission. You pay zero to compare, zero to receive a quote, and zero to walk away.

The permitted-fees schedule is published by the Ministry of Law Registry of Moneylenders (rom.mlaw.gov.sg).

Does FundBright charge me anything?

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.

FundBright differs structurally from every other personal loan comparison platform in Singapore on one axis: how the lender is charged for the borrower.

Inverse commission is the only structural mechanism in the Singapore market that gives a lender a reason to offer a lower rate.

Flat-commission platforms are paid independent of the borrower’s actual disbursed rate, so the borrower’s outcome and the platform’s revenue never intersect. The top 10 search results for “personal loan comparison singapore” are dominated by affiliate comparison sites and bank direct pages. No top-10 result serves the sub-ceiling borrower band specifically. The gap exists because none of the existing platforms have a commission structure that encourages lower rates.

How is FundBright different from other comparison platforms?

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.

FundBright’s authority rests on the Moneylenders Act Cap. 188, the inverse commission agreements with lenders across the network, and a verifiable regulatory source chain.

The following regulatory sources govern every claim on this page:

• Moneylenders Act Cap. 188 (Singapore Statutes, AGC): the operative statute defining permitted fees, the 4% p.m. interest cap, and the licensing regime.
• MinLaw Licensed Moneylender Rules and the Registrar’s Directions on Advertising and Marketing Activities: govern how licensed moneylenders and platforms that refer to them present information publicly.
• The Personal Data Protection Act 2012 (PDPA) governs how FundBright handles borrower data. Only the matched lender sees your full profile.
• MLCB (Moneylenders Credit Bureau): the bureau that enforces the aggregate loan limit across all licensed lenders at any one time.
• CBS (Credit Bureau Singapore) is the bureau that banks reference for creditworthiness assessment.

A borrower earning S$3,500 per month, with an existing credit profile and a clean repayment history, received a ceiling-rate quote of 4% p.m. plus 10% admin fee through a flat-commission platform. On a S$10,000 12-month loan, that totals roughly S$5,800 in interest and fees.

The same borrower profile, routed through FundBright’s inverse commission structure, receives a comparison report showing multiple licensed-moneylender rates below the 4% monthly cap. The inverse commission model gives lenders a structural reason to price below the cap rather than at it. This is a pre-launch illustration based on the inverse commission model, not a closed loan.

Is my data shared with every lender in the network?

No. FundBright follows PDPA-compliant routing. At the start, your request is anonymised (containing only the details a lender needs to quote a rate) and matched with a subset of lenders. Only when you choose to proceed with a specific lender does that lender receive your full profile to complete the application.