The interest rate legally permitted to be charged per month of Singapore Law is to be 4% whether the loan is secured or not. Fees charged administratively should not be more than 10 percent of the loan capital. The amount of late fees is limited to 60 dollars a month.
| Fee Type | Amount/Limit |
|---|---|
| Interest Rate | ≤ 4% per month |
| Admin Fee | ≤ 10% of principal |
| Late Fee | ≤ $60 per month |