Instalment Loans in Singapore | Easy Monthly Repayments

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Looking to Pay Off Your Debts? Here’s How Monthly Loans Come in Handy

An unexpected expense can be detrimental to your financial well-being. Financial solutions like monthly instalment loans in Singapore can be useful in many cases. Whether it’s an unexpected medical bill or the dream car you’ve been eyeing for months, sometimes we need a little extra financial help to make things happen. This is where a monthly repayment loan comes into the picture.

What Is a Monthly Loan in Singapore?

Monthly loans, also known as monthly instalment loans in Singapore, let you borrow a lump sum of money upfront and repay the loan in equal monthly instalments over a fixed period. Through the help of a monthly loan money lender, you can break down larger expenses into manageable, bite-sized payments that are made affordable for you.

Why Would You Need a Monthly Instalment Loan in Singapore?

Manageable Monthly Repayments

With a monthly loan in Singapore, you don’t have to pay a lump sum all at once; instead, you can break down the total amount into smaller, more manageable monthly instalments. This predictability can help prevent financial strain and ensure you stay on top of your payments.

Affordable Interest Rates

Monthly instalment loans in Singapore are offered affordably with simple interest rates as low as 2.27% monthly. By opting for a monthly loan, you can save on interest costs over time and avoid the debt cycle that typically accompanies higher-interest, short-term borrowing options.

Flexible Loan Amount and Tenure

Monthly repayment loans in Singapore come with a wide range of borrowing options, allowing you to take out loans from as little as a few hundred dollars to a hundred thousand dollars. Additionally, the repayment period is flexible, ranging from one to 12 months (some lenders offering up to 24 months), depending on the loan and your needs.

Keep Your Savings Intact

When you need to pay off a debt for an unexpected emergency, a monthly loan money lender can help by offering a loan that gives the lump sum you need without touching your savings at all. This safeguards your financial well-being while letting you resolve your financial needs.

Why Engage 96BM Credit for a Monthly Loan in Singapore?

While we pride ourselves on being a reliable monthly loan money lender, we also specialise in other loan services such as debt consolidation loans, bad credit loans, and instant loans in Singapore. Since 2010, we’ve been a committed money lender in Singapore with 100% legal and reliable services.

We are highly recognised by borrowers and have amassed more than 3,000 5-star reviews.
Our team of loan consultants are supremely qualified with more than 10 years of experience to address your questions and concerns with confidence.
Every loan is customised according to each individual’s financial requirements; this caters to your situation and specific needs fully.

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How to Apply

3 Fuss-free Steps to Obtain Your Cash

1. Apply

Submit your loan application through our website.

2. Results

Get notified of your loan application status.

3. Disbursal

Upon signing the contract, retrieve your funds in 15 minutes.

Monthly Loans in Singapore — Frequently Asked Questions

Why should I opt for a monthly loan in Singapore?

Taking up a monthly instalment loan in Singapore helps you manage large expenses without straining your budget. By spreading the cost over fixed monthly instalments, you can make manageable payments that align with your income, reducing financial pressure.

Monthly instalment loans offer flexibility, allowing you to borrow for various needs like home renovations, education, or debt consolidation. They also provide a structured repayment plan, which can help with financial discipline.

What is the interest rate for a monthly loan in Singapore?

The interest rate for a monthly loan in Singapore is 1%-4% monthly, computed based on the reducing balance method.

What can I use a monthly loan in Singapore for?

1. Debt Consolidation

Having numerous debts, such as personal loans or credit card balances, can be challenging to pay off. This is why the consolidation of these loans or debts into a fixed monthly repayment loan can simplify your financial situation greatly with a debt consolidation loan in Singapore. Debt consolidation can potentially help lower your overall interest charges, make your monthly payments more manageable, and reduce the risk of missing payments altogether.

2. Home Renovation or Improvement

If you’re planning to renovate your home or make significant improvements, a monthly repayment loan in Singapore can provide the funds you need. Whether it’s upgrading your kitchen, adding an extension, or remodelling a bathroom, taking out a monthly instalment loan allows you to spread the cost of your renovation over a set period of time. This way, you can avoid depleting your savings while still enjoying the benefits of your home upgrades.

3. Car Purchase

Many people use monthly loans in Singapore to finance the purchase of a car. Car loans are specifically designed for this purpose, allowing you to pay for the vehicle in comfortable instalments over several years.

4. Education Expenses

Education is an important investment, and whether you’re pursuing higher studies for yourself or helping a child with tuition fees, education loans can help cover the costs. Monthly repayment loans in Singapore allow you to pay for tuition, books, and even living expenses in monthly instalments.

5. Medical or Emergency Expenses

Unexpected medical expenses, whether due to illness, surgery, or an emergency, can strain your finances. In such situations, a medical loan in Singapore can help. Through a monthly instalment loan, you can receive the funds needed to cover medical bills, prescriptions, and other healthcare-related costs.

6. Weddings and Special Occasions

A wedding is a significant life event that can incur high costs. Monthly instalment loans in Singapore can help you manage the expenses involved in planning a wedding from venue costs and catering, to wedding gowns and the honeymoon of your dreams. Instead of saving for years and depleting the sum in one go, you can borrow the money now and pay it back over time, allowing you to enjoy the celebration without putting too much pressure on your finances.

How to boost my chances of getting a monthly loan in Singapore?

To boost your chances of getting a loan from a monthly money lender, focus on maintaining a good credit score, showing stable income, and reducing existing debt.

What are the eligibility requirements for a monthly loan in Singapore?

You are eligible for our monthly loan as long as you:

are above the age of 18,
have a stable income source, and
are well within the legal borrowing limits.

What are the documents needed to apply for a monthly instalment loan?

Singaporeans and Singapore PRs require:

Proof of identity (NRIC, passport)
Proof of income (CPF / bank statements)

Foreigners require:

Work Permit / S Pass / E Pass
Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
Payslips / bank statements

What is the processing time for a monthly loan in Singapore?

We understand that time is of the essence when it comes to urgent financial needs. You may receive your loan via bank transfer or PayNow within 15 minutes of signing the contract.

Stay financially secure today.

Ready to get a loan from a monthly money lender? Get in touch with our team and take the first step towards financial freedom!

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