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Frequently Asked Questions about MoneyIQ

This list is designed to be helpful in understanding our business principles and services. If it does not cover your questions, please drop us a note here.


Why use MoneyIQ for your Mortgage requirements?

MoneyIQ is a free to use mortgage comparison platform.

Whether you are a first-time buyer looking for a new mortgage or wanting to refinance your home loan at the end of a deal with an existing lender, you want to find the best option to meet your needs.

To find the right deal, all you do is answer some simple questions. Our search tool will compare over 10 leading banks and narrow down the field on your behalf, tell you what loans are available.

The service even tells you the monthly payments and how much interest1 you might pay, allowing you to decide if it is affordable or not. You can then indicate which package you like to find out more and the banker will contact you within 1 business day.

Helpful advice

We understand that it may not be always as easy as it seems. If you have any questions on your mortgage, send us an email and we will do our best to have it answered2.

Informed choices

If you're wondering how much you can borrow and what your repayments will be, try out our affordability calculator.

What is MoneyIQ Exclusive

These are special packages offered by the banks for a limited period.

1 Monthly payment and interest calculation is based on standard amortisation calculator. There may be some difference with the lender's amortisation schedule.
2 Answer may be provided by a financial advisor or mortgage banker.

Applying a loan

Who can use MoneyIQ?

Any home owner who needs a mortgage for their Singapore property can use MoneyIQ. Home owner who are researching on mortgage rates can also use MoneyIQ.

What are the chances in getting the loan approved?

Loans are approved and made by respective lenders and not MoneyIQ. All applications are subjected to the lenders internal credit review before loans are approved. The final agreement may deviate from what was presented on our website. Applicants are under no obligation to accept the final agreement.

MoneyIQ does not guaranteed loan approval made via our website.

How can I make my loan payments?

After you have accepted the lender loan agreement, the lender will advise you on the instalments and payment mode. Usually you can ask for monthly instalment to be electronically deducted from a savings account subject to the lender approval.

How will MoneyIQ verify my identity?

For security of the system, it is important that MoneyIQ verifies each submission. A sms will be sent to each new signed-up to verify his contact number.

In cases where we are not to verify the contact number, the application will not be submitted.

How can I make changes to my application?

Once a borrower submitted his request, he will be contacted by the lender representative within 1 business day. Borrower may make changes to the application directly with the lender representative.

In cases where the lender representative failed to reach him, please send us an email at stating your name, contact number and we will help to follow up.

What is cash rewards?

Cash rewards is MoneyIQ way of rewarding borrowers or referrers for using our services. The final amount will be confirmed after the loan is accepted by the lender. Borrowers or referrers will receive the amount after approximately 30-60 days depending on package.

Note: There will not be any cash rewards if the borrowers or their agents have contacted the same lender and made an application within the last 60 days. Cash rewards is also not payable if the borrowers choose to refinance with their existing lender.

To join us as a referrer, please see our Affiliate Program in the next page.

Collective Loans

We offer competitive interest rates for collective loans. To qualify, there should be more than 2 loan applicants and size of loan should be more than $4 million combined. Write to us at

Understanding the watch list

How does it works?

To benefit from MoneyIQ worklist, just follow these simple steps.

Creating your loan request
Before you create your watch list, you will need to provide the following information

1) Property Type.
Is your property a commercial, HDB or Private property?

2) Rate Type.
What type of interest package do you like?

2a) Fixed rates: A cautious way of borrowing money, this loan will follow a pre-determined rate of interest for a given interval, eg one year, two years, three years. Suitable for borrowers who are after a degree of certainty, and is concerned that interest rates may rise in the near term.

2b) Floating rates: Rates will follow movements in line with the lender rate. Floating rates are extremely competitive. Suitable for borrowers who can allow for a marginal rate increase, but who wish to benefit if rates decrease.

2c) Interest Offset: A mortgage that allow borrowers to earn a higher interest on their cash deposits. It helps to minimise your interest payments, effectively shortening your loan period.

2d) Sibor/ SOR: Rates will follow movements in line with SIBOR (Singapore Interbank Offer Rate) or SOR (Singapore Swap Offer Rate) rates. Rates offer flexibility and features. Suitable for borrowers who can allow for a marginal rate increase, but who wish to benefit if rates decrease.

3) Loan Amount.
How much do you wish to borrow?

4) Loan Tenure.
What is the loan tenure that you wish to borrow?

4a) A longer tenure will equate to a lower monthly instalment, but you will end up paying a much higher interest over the entire tenure.

Making a fair comparison
Choosing a suitable package is not easy, as you need to consider many factors. These are the factors that you should consider.

1) Monthly Instalment.
The watch list will display the estimated monthly instalment over the entire tenure. The monthly instalment should be an amount that is within your budget and that you are able to service the loan even if the interest rates increase slightly.

2) Total Interest.
The total interest is the cumulative interest you would pay over the entire tenure. The total payment (Principal + Interest) and the proportion is also presented in a simple pie chart for better visualisation.
In some cases, the total interest payable may provide a fair comparison on the packages.

3) Interest Rate.
The interest for each year will be listed our clearly in the watch list for your reference.

4) Legal Subsidy.
Legal subsidy is a common feature in a package. It can be used to offset your conveyancing cost.

5) Clawback
Clawback refer to fees that you may need to return to the lender when you fully redeemed your loan within a sitpulated period.

6) Estimated Legal Expense.
This is the cost of legal expense you may need to pay after the bank legal subsidy. Every case is different, therefore you are advised to seek your own lawyer to confirm the actual cost of conveyancing.

7) Lock in period.
If you fully redeemed your loan within the lock in period, you may need to pay a penalty on the amount redeemed.

8) Admin Fee.
This is the fee that you may need to pay to your existing lender to re-struture your loan.

9) Cash Rewards by MoneyIQ.
This is our cash incentive for the applicants in our affiliate program.

Submitting your request
When you have chosen a package(s), simply submit online and the lender(s) representative will give you a call and advise you on the loan. He will also help you in getting the necessary documents for the application.

Affiliate Program

MoneyIQ is always looking for new ways to strengthen our position in the marketplace by increasing our distribution channels and forming new alliances. We offer one of the most comprehensive affiliate and referral program in the industry.

Affiliate Program

Get from $10 to $5,000 for every *loan you refer to us! Our affiliate program is an easy way for you to earn extra income. It is for people who are serious about earning a substantial income on the Internet.

And it's getting better: If you refer someone to our site and they join our affiliate program, you will get also get a referral fee for every sale THEY refer to us! We call these Sub-Affiliates.

(*) A sale is a funded (closed) loan.

3 - Tier Affiliate Program

The example below will clearly explain what is a 3-tier Affiliate Program.

David decides to get a bank loan of $500,000 through MoneyIQ and he gets $150 of cash rewards. As he is referred by John, John earns a referral fees of $75 (50% of $150). Because John is referred by You, you will earn a referral fees of $37.50 (50% of John's fees).

In this scenario, John is your 2nd tier affiliate and David is your 3rd tier affiliate. We only support up to 3 levels of affiliates. Your potential income will be multiplied by the number of affiliates you could potentially have. The sky is the limit.


Five reasons to join our affiliate program:

  1. Serious affiliate fees: We pay our affiliates on time, every time.
  2. Reliable tracking and advanced reporting: To help you to earn more, we focus on conversions and provide an account for you to manage your affiliate fees.
  3. One affiliate link - multiple products: You have one affiliate ID and one login page but you can promote MoneyIQ's services.
  4. No risk for you: You pay nothing to participate in our program and you can stop anytime you like.

How does it work?

Every affiliate is provided with an affiliate tracking URL (or link) upon signup. This link has a cookie attached to it, which remembers your unique affiliate ID. When a prospect clicks your link, the cookie is stored in their browser and follows them all the way to the sign up page.

You can recommend our services to others by forward your URL link, place the link on your blog/website, facebook, twitter or even opt-in email list to encourage your friends and visitors to join our affiliate program.

On completion of the loan closing you will earn a $10 to $5,000 cash rewards/ affiliate fees depending on loan program, size of loan and so on. At any time, you can log into your account to see the amount of cash rewards or affiliate fees you have earned (which include your sales and the sales made by your **Sub-Affiliates).

An email will be sent to you whenever any rewards/affiliate fees have been credited into your account. You can request to cash out your account when it is more than $50. A cheque will be sent to you within 5 working days upon your request.

* A sale is a funded (closed) loan.

** Sub-Affiliates are affiliates that signed up with MoneyIQ as a result of clicking on your link.

Note: There will not be any affiliate fees/ cash rewards if the borrowers or their agents have contacted the same lender and made an application within the last 60 days. Affiliate fees/ cash rewards is also not payable if the borrowers choose to refinance with their existing lender.

No membership fee is required for joining us as an affiliate. All cash rewards and affiliate fees given are based on funded loans. We do not give any cash rewards for recruitment of members/ affiliates.

Credit Card

How do MoneyIQ: Credit Cards work?

Credit cards in Singapore are categorised and displayed in a simple to use listing. Consumers may use our listing to research on a suitable credit card.

Who are the Issuers?

Issuers are major banks who offer Singapore credit card.

Will MoneyIQ sell or share my personal information?

MoneyIQ has a strong commitment to keeping your personal information private and secure. We strongly believe that consumers deserve the utmost respect when it comes to the privacy of their personal information. Please read the MoneyIQ Internet Privacy Policy Statement for more details.

What are the fees for getting a credit card?

There are no fees for using our listing. Please check with the issuers if there are any related fees in your application.

Why MoneyIQ when I can contact the banks directly?

MoneyIQ provides a simple to use watch list and seamless procedure to help consumers search, compare and apply for credit card.

MoneyIQ is built and maintained by our own experienced programmers and not outsourced to any vendor, all information submitted to us is kept secure and safe.