The maximum interest rate legally set by Singapore Law is allowed is 4% per month for both secured and unsecured loans. Administrative fees cannot exceed 10% of the loan principal. Late fees are capped at $60 per month.
Fee Type | Amount/Limit |
---|---|
Interest Rate | ≤ 4% per month |
Admin Fee | ≤ 10% of principal |
Late Fee | ≤ $60 per month |