Monthly Installment Loan
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A monthly installment loan is a type of loan where you borrow a lump sum of money and repay it in equal monthly payments over a specified period. Each payment includes both principal and interest. This structure provides predictable monthly expenses and helps with budgeting. Installment loans can be used for various purposes, such as consolidating debt, making a large purchase, or covering unexpected expenses. The loan term, amount borrowed, and interest rate determine the size of the monthly payments.
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At 1133 Moneylenders, we excel in providing monthly installment loans for several reasons. Our competitive interest rates make borrowing more affordable, while our flexible repayment terms and customizable loan amounts ensure that we can meet your individual needs. We pride ourselves on a swift approval process and prompt fund disbursement, which is especially beneficial for urgent situations. Our commitment to exceptional customer service means you’ll receive clear communication and supportive assistance throughout the loan process. Additionally, our transparent fee structure has no hidden charges, so you know exactly what to expect. With a strong reputation for reliability and positive reviews, we are a top choice for monthly installment loans.
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Advantages of a Monthly Installment Loan
Straightforward Application
Our payday loan application process takes just 5 minutes. Simply fill out a quick online form with your basic details and we will ensure fast approval with minimal paperwork. Our user-friendly process helps you get cash quickly, with clear terms and no hidden fees.
Worry Not About Bad Credit Score
We focus on providing quick and accessible financial solutions, regardless of your credit history. We do not discriminate.Our streamlined application process and flexible criteria are designed to help you get the funds you need, even if your credit score isn’t perfect.
Lowest Interest Rates
We offer some of the lowest interest rates in the market on our payday loans. Our commitment to competitive pricing ensures you receive the funds you need at minimal cost, helping you manage your financial needs without excessive interest charges.
Get Through Rainy Days
we're dedicated to helping you navigate challenging times with ease. Count on us to be there with you and for you, offering reliable support when you need it most.
3 Easy Steps
To Applying For A Loan
Call or Apply
Online
Heading down
to office
Receive Cash
on the spot
Call us at 6556-1133
or simply apply online and set an appointment and we will cater to your convenience.
Come in for an appointment and create a customized plan with our friendly staff is here to make your experience easy and stress-free. They offer personalized support, guiding you through the loan process with warmth and clarity.
No hidden fees! Approval within less than 10 minutes with instant cash disbursement in our office!
Frequently Asked Questions
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Am I Eligible To Borrow From Moneylenders ?To be eligible, you must be: Singaporean Citizen, a Permanent Resident, or a foreigner with a valid working permit. At least 21 years old. Have not declared bankruptcy or will be facing a bankruptcy proceeding in the near future. Employed with CPF contribution or can provide payslips for the last 3 months and self-employed with the income tax assessment, ACRA, NEA license (if any) or vocational license (if any).
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What Are The Prerequisites to Apply For a Loan?For Salaried and Commission-based Employees ID Card (NRIC) Any latest bill indicating your current residential address (Proof of Billing) Latest 3-month original payslip if you have no CPF contribution Letter of employment if you are a new employee For Self Employed ID Card (NRIC) Notice of Assessment indicating trade income Accounting/Corporate Regulatory Authority (ACRA) Any latest bill indicating your current residential address (Proof of Billing) For Taxi Drivers ID Card (NRIC) Vocational license Taxi pass 7-day job summary Any latest bill indicating your current residential address (Proof of Billing) If you are unsure feel free to drop us a call and enquirer
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How Much Can I Borrow?You can borrow: Up to $3,000 if you are a Singaporean or a Permanent Resident earning less than $20,000 a year. Up to 6 times your monthly income if you are a Singaporean or a Permanent Resident earning $20,000 or more a year. Up to $500 if you are a foreigner residing in Singapore earning less than $10,000. Up to $3,000 if you are a foreigner residing in Singapore earning less than $20,000. Up to 6 times your monthly income if you are a foreigner residing in Singapore earning $20,000 or more a year.
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Can I Apply For a Higher Loan Amount?Certainly! Once you have fully settled your current loan with a clean payment history, we would be happy to offer you a higher loan amount.
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What Is The Interest Rate For a Cash Loan?We charge 3.92% below the maximum rate of 4%
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Can Private-Hire Driver apply for a Loan?Yes. Simply submit your proof of billing, car rental agreement and proof of income.
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What Are The Other Fees You Charge?We charge the following: A late fee not exceeding a maximum of only$60 for each month An upfront administrative fee not exceeding 10% of the principal loan amount. Charged once the loan is granted Legal costs awarded by the court for a successful claim following the recovery of the loan. The total charges consisting of interests, late interest, upfront administrative and late fee will not exceed the amount of your principal loan.