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You can also obtain your credit report at any of the following offices. A transactional fee of $0.50 applies. Moneylenders Credit Bureau Office 2 Shenton Way #20-02 SGX Centre 1 Singapore 068804 Tel: +65 6565 6363.
When a borrower applies for a loan with a licensed moneylender, the moneylender can request a Borrower's Credit Report from the MLCB. Borrowers may obtain their own Loan Information Report at any time. All MLCB data will be accessible to MinLaw and the Registry of Moneylenders.
Moneylenders Credit Bureau i. Press Release New Credit Bureau to Support Prudence in Borrowing and Lending (53KB) ii. Infographic The...
Nov 25, 2022 · The MLCB does not collect data on borrowers’ bank credit facilities or bank deposit information, nor does it make lending decisions on behalf of LMLs. What is a Loan Information Report? Your loan information report is a record of your loan payment history compiled from different LMLs.
Oct 10, 2023 · What is a MLCB Report? Your MLCB report serves as a comprehensive record of your loan payment history, compiled from various LMLs. As part of their assessment process, LMLs are required to review your loan credit report to gauge your creditworthiness before approving a loan.
The MLCB is a central repository of data on borrowers’ loans and repayment records with licensed moneylenders. It will allow licensed moneylenders to assess the creditworthiness of borrowers, and help to prevent borrowers from borrowing beyond their means.
Jun 4, 2024 · For licensed moneylenders, the Moneylenders Credit Bureau (MLCB) is the central repository of data on borrowers’ loans and repayment records with licensed moneylenders. It allows licensed moneylenders to assess the creditworthiness of borrowers and help borrowers avoid borrowing beyond their means. What Is A Credit Report?
Article 1: Understanding Your Credit Report. Article 2: Understanding Your Loan Information Report. Credit Bureau Singapore (CBS) A credit report is a comprehensive record of your credit payment history compiled from different retail banks and major financial institutions.
Commencing 1 July 2021, CBS has been designated by the Ministry of Law (MinLaw) as the new operator of the Moneylenders Credit Bureau (MLCB). MLCB is a central data repository on borrowers' loans and repayment records with licensed moneylenders.
Apr 16, 2024 · MLCB serves as a centralised database housing information on borrowers’ loan histories and repayment records across all Licensed Moneylenders (LMLs) in Singapore. Through the provision of Loan Information Reports, MLCB facilitates LMLs in making well-informed decisions regarding loan applications from prospective borrowers.
