Ministry of Law Singapore (MinLaw)·SG·Mon, 31 Aug 2026 00:00:00 UTC

Mandatory Cooling-off Period for Loans Taken from Licensed Moneylenders

1. The Ministry of Law (“MinLaw”) announced today that a mandatory cooling-off period of three business days (i.e. excluding Saturdays, Sundays, and public holidays in Singapore) will be imposed on all unsecured loans (other than a business loan) taken from licensed moneylenders (“LMLs”). During the cooling-off period, borrowers will be allowed to cancel a loan at reduced cost.

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