Monthly Loan in Singapore | Affordable Repayment, Easy Approval
Low interest rates 100% tailored to you. Approvals in less than 30 minutes. 90% approval rate. Trusted by thousands.
Monthly instalment loans in Singapore are simple and quick
Monthly loans in Singapore are a lifeline — be it forking out cash for unexpected expenses or big purchases.
Our monthly instalment loans come with flexible repayment options, a quick and easy approval process and a personalised approach just for you.
As a monthly loan money lender, we provide monthly repayment loans that are designed to make life simpler and less stressful while prioritising your financial health.
Thousands trust us with their loans, so should you.
Borrowing can be an easy process if done correctly, and with Elite Credit & Investment; we’ll do right by you. Rest easy and get a monthly instalment loan today.
You might benefit from a monthly instalment loan if:
- You need low, fixed interest rates and flexible repayment terms: You deserve to work with a monthly money lender who takes the time to understand your situation and come up with a loan package that suits you. Whether it’s a 12-month loan or 9-month loan — we’ll work out a loan that meets your needs, yet remains manageable to be repaid every month.
- You need an easy, plug-and-play budgeting solution: Fixed interest rates. Fixed monthly repayments. Fixed loan duration. With little left to the unknown, it’s easier to plan your finances and stay on top of loan repayments with a trusted monthly money lender, especially if you’re too busy to scrutinise your finances in detail every month.
- You want to boost your credit profile: Regular and timely repayments on your monthly instalment loans can help to improve your credit profile with a documented track record that proves you’re a responsible person who’s able to repay your debts.
- You need a quick solution to your problem: Elite Credit’s monthly instalment loans can be approved in less than 30 minutes. This can be significantly shorter in comparison to financial institutions like banks, which have stricter eligibility requirements.
- You have large expenses that need a longer repayment time: Monthly loans in Singapore are particularly helpful when you need a sum of money that requires time to repay. If you only need a very short term loan, perhaps you might want to consider payday advance loans instead.
3 Steps to Obtain Your Monthly Loan
Elite Investment & Credit is not just any legal money lender — we’re your trusty lender committed to being with you every step of the way throughout your loan journey.
Submit your loan application
Go to our website and apply online easily — via a fuss-free form or through Singpass.
Get an update in 24 hours
After receiving your application and documents, we will review your monthly loan application and provide an update at the earliest.
Get approval and funds
Our monthly loan process is less than 30 minutes, and boasts a 90% approval rate. Receive your funds in cash or via a bank transfer immediately!
Monthly Loan in Singapore — Frequently Asked Questions
Want to learn more about monthly loans in Singapore? Here are some common questions about these loans to help guide you through the process.
What is a monthly loan in Singapore?
A monthly loan is a type of personal loan that allows you to make fixed repayments every month, for a pre-determined period.
With regular payments, these loans help you plan exactly how much to put aside for repayment every month so that you can manage your finances with great certainty. The predictability and convenience of monthly repayment loans make them a popular option for those who want to keep budgeting easy.
How do monthly loans work?
Monthly loans allow you to receive a lump sum upfront and repay it over a fixed period, in monthly instalments.
Why apply with Elite Credit?
As a legal and reliable monthly loan money lender, we have what it takes to meet your needs and ensure you tackle any financial worry with ease, here’s how:
- Completely licensed and legal
- Transparent terms with no hidden fees
- Borrow any amount up to $100,000
- Repayments on your terms, with our flexible repayment options
Can I still get a monthly loan with bad credit?
Yes! While banks and large financial institutions may have stricter financial requirements, a licensed monthly money lender may offer you a poor credit loan in a judgment-free setting.
What are the eligibility requirements for getting monthly instalment loans in Singapore?
Typically, banks will require that you have a minimal annual income of $20,000 or $30,000. With Elite Investment & Credit, things are a lot simpler. As long as you’re a Singaporean, PR, or a foreigner with a Singapore Work Pass, all you need is to be above 21 years of age and be employed with proof of salary.
Here’re some additional details on the documentation that you’ll need when applying for a monthly repayment loan.
Citizenship status | Required documents | Age and income requirements |
Singaporean/PR | NRIC or Passport Proof of current employment
If you have a Singpass account, your documentation can be accessed with ease automatically during your application. | At least 21 years old All income ranges may apply Not applicable for undischarged bankrupts or those pending bankruptcy |
Foreigner residing in Singapore | Passport Valid Singapore Work Pass (S-Pass or Employment Pass) Proof of residence
Proof of current employment
| At least 21 years old All income ranges may apply Employed on a full-time basis Not applicable for undischarged bankrupts or those pending bankruptcy |
How much can I borrow with a monthly loan in Singapore?
If you’re taking a secured loan, you can borrow any amount of money based on the value of your pledged asset. But if you’re taking an unsecured loan, the amount that you can borrow varies:
The borrower’s annual income | Maximum amount a Singaporean/PR can borrow across legal lenders at a time | Maximum amount a foreigner residing in Singapore can borrow across legal lenders at a time |
Less than $10,000 | $3,000 | $500 |
At least $10,000 and less than $20,000 | $3,000 | $3,000 |
At least $20,000 | Six times monthly income | Six times monthly income |
What are the interest rates and fees for monthly loans?
- In Singapore, legal money lenders can only charge you a maximum of 4% in interest per month.
- If you are late to repay your loan, the maximum you can be charged in late interest is 4%. Additionally, licensed money lenders cannot charge you more than $60 for every month of late repayment.
- When the loan is granted, licensed money lenders can only charge you up to 10% of the principal loan amount when it comes to loan processing fees.
What are the repayment terms for monthly loans?
The repayment terms include a monthly repayment schedule that you should stick to throughout your agreed loan tenure. If you don’t, late fees and interest may kick in.
Can I use a monthly loan for any purpose?
Yes, a monthly loan is a personal loan and can be used for any purpose – you’re under no obligation to reveal what it’s for!
Tackle any financial need — easily, efficiently, and affordably.
Don’t fret over any financial worry — let us help you with a monthly instalment loan in a few easy steps.