Last reviewed: June 2026
How to verify a lender before you sign anything.
This is the most important trust step for any borrower. CoeLoans is a broker, so we always recommend verifying the lender yourself before accepting an offer.
A clean-looking quote, a quick reply, or a broker introduction should never replace your own checks. You want to confirm that the lender, the paperwork, and the repayment terms all match what you were told before any agreement becomes binding.
- If the lender is a licensed moneylender, check it against the Registry of Moneylenders list.
- If the lender is a bank or finance company, confirm it through the MAS Financial Institutions Directory.
- Read the full quote and confirm principal, fees, repayment term, and any early settlement rules.
- Make sure the lender name on the documents matches the lender you verified.
- Do not sign under pressure or without enough time to compare.
- Keep records of the quote, repayment schedule, and final agreement.
CoeLoans business address: 45 Jln Pemimpin, #01-03A Foo Wah Industrial Building, Singapore 577197. Use this address if you need to contact us about an enquiry or quote comparison.
Start with the lender identity, not the monthly repayment. If the lender name on the quote, loan agreement, or payment instructions does not match what you checked, stop and clarify it before moving forward. A borrower should be able to point to one exact legal entity that is making the loan offer.
After that, check the structure of the offer itself: principal, repayment schedule, disclosed charges, late-payment terms, and any early-settlement treatment. Even when the headline monthly amount looks acceptable, the details of the agreement determine whether the quote is actually reasonable for your situation.
- Comparing only the monthly repayment without checking the full term and total repayment structure.
- Assuming the quote breakdown will stay the same in the final agreement without reading it line by line.
- Signing quickly because they feel pressure from timing, expiring COE, or a vehicle delivery deadline.
- Keeping no record of the quote, repayment schedule, or the name of the lender they actually dealt with.
- Trusting a verbal promise instead of getting the terms in writing before signing.
- The lender does not appear on the official MAS or Registry of Moneylenders lists.
- Pressure to sign immediately, with claims that "the offer expires today."
- Vague or incomplete documentation that does not clearly state the principal, interest rate, and total repayment.
- Requests for upfront fees before the loan is approved or disbursed.
- The lender name on the agreement differs from the name you verified.
Borrowers often focus only on the headline quote. Verification helps confirm that the lender, the documents, and the final agreement all match what you reviewed. A few minutes of verification can prevent months of complications.
Save a copy of the quote, the repayment schedule, the lender's verification page, and the final signed agreement. These records help you confirm what was agreed if anything later feels inconsistent or if you need to reference the terms.