Borrowers in Singapore now have a second chance to reconsider an unsecured loan. From 15 September 2026, every unsecured loan taken from a licensed moneylender comes with a mandatory three-business-day cooling-off period, during which the borrower can walk away from the loan at a sharply reduced cost. The framework was...
News & Policy Changes
Regulatory Updates
Every rule change and advisory that affects licensed moneylending in Singapore, listed with its effective date and what it means for borrowers.
Board last reviewed
15 September 2026
In effect
Takes effect soon
Superseded
Latest notice
In effect
What changed
>> Three business day cooling-off window on every new unsecured loan
>> Cancellation within the window carries no penalty or fee
>> Disbursement and the first instalment shift accordingly
Who it affects
Anyone signing a new unsecured loan with a licensed moneylender on or after 15 September 2026. Loans already disbursed before that date continue on their existing terms.
Effective 15 Sep 2026
Check how a notice affects your loan
Our team reads the rule change against your actual agreement — outstanding balance, instalments and next application — before you sign anything.
SU Credit is a licensed moneylender registered with the Registry of Moneylenders, Ministry of Law, Singapore. Notices on this page summarise published rules for general information and are not legal or financial advice. Always refer to the Registry of Moneylenders for the official text.
Su Credit,
175 Bencoolen Street #01-36 Burlington Square,
Singapore,
189649
Tel: +65 6636 5644