Best Monthly Instalment Loan in Singapore for Easy Repayment
Need cash asap? We’ve got you.
If you’ve found yourself in a financial emergency, 1-Cash is a monthly loan money lender that’s here for you! Our monthly instalment loan in Singapore boasts fixed fuss-free repayments and swift approvals.
Secure cash quickly
Get customised loan solutions
Work with experienced loan consultants
What Are Monthly Loans?
One way to secure additional funds is through monthly loans in Singapore. Commonly known as instalment loans and monthly repayment loans — it is a loan you repay in fixed amounts — including interest — every month until the tenure ends.
With a fixed monthly instalment for your loan, planning your budget becomes simpler. This is crucial for individuals who have multiple bills and expenses to account for. Furthermore, you benefit from knowing exactly when you’ll fully settle your monthly loan.
Why Choose 1-Cash for Monthly Loans?
Our monthly loan is ideal for individuals who wish to borrow but repay with ease.
Enjoy Fast Approvals
1-Cash is a licensed monthly loan money lender with years of experience. Rest assured every monthly repayment loan application we accept will be processed by our veteran loan consultants with maximum efficiency.
Improve Cash Flow
By taking up a monthly repayment loan in Singapore, you’re splitting up a larger sum and its interest into smaller instalments, not affecting your day-to-day finances and letting you stay ahead of emergencies.
Transparent Fees and Charges
We’re a money lender regulated by the Ministry of Law that offers monthly repayment loans with zero hidden fees.
Customised Loan Offers
As a regulated monthly loan money lender, we provide you with a loan offer that’s wholly personalised to you. We want to ensure that all monthly instalment loans we disburse are affordable and can be repaid by our clients in full.
Receive Funds Quickly
When it comes to fund disbursals, we understand how important it is to have the money you need from your instalment loan as soon as possible. Expect to receive your cash within 20 minutes upon contract signing.
How Monthly Loans in Singapore Can Help
If you wish to secure extra funds yet stay financially secure, monthly instalment loans in Singapore are designed to help without setting you back. By getting a monthly repayment loan, get your desired loan sum (subject to your monthly salary) and preferred tenure period, and be one step closer to financial freedom.
1. Emergency Funding
If you’re juggling a full-time job, family, and are responsible for your relatives, a monthly loan in Singapore will come in handy whenever you require emergency funding. Both the monthly instalment amount and payment date are fixed, making repayments easy to remember and settle. There’s no need to worry about variable interest rates or multiple repayments in a month.
2. Borrow Without Collateral
1-Cash’s monthly instalment loans in Singapore are unsecured, unless you’re borrowing an amount higher than the limit tied to your annual income. Don’t stress out about having to secure your monthly loan with your vehicle, property, or collection of sentimental jewellery. Simply ensure you’re applying for an amount within your income limit.
3. We Welcome Any Credit Score
Banks might reject your monthly loan application if they deem your credit score to be below par, but we process requests with the borrower’s income in mind instead. Your instalment loan’s application will definitely be processed fairly if you’re drawing a regular and stable income.
4. Enjoy Affordability and Convenience
From our capped monthly interest rates of 4% to flexible loan tenures, it is not a costly affair to get a monthly instalment loan with us. Moreover, you can customise your loans and apply easily through our online form or Singpass.
3 Easy Steps to Receive Your Cash
1. Apply for the monthly loan
Submit your monthly loan application via our online form or Singpass.
2. Wait for the application results
Get updated on your monthly loan application results in minutes.
3. Get your funds
Come down to our office premises to sign your loan contract and receive your instalment loan in cash or PayNow.
Monthly Instalment Loans in Singapore — Common FAQs
What can a monthly instalment loan be used for?
There are no restrictions on what you can use monthly instalment loans in Singapore for. Whether it’s a loved one getting badly injured or an ad-hoc home repair, you’re free to use the loan’s funds for your specific needs. However, do ensure that you’re not borrowing more than you need.
How do I know if I’m eligible for a monthly repayment loan?
These are the eligibility criteria for our monthly loan:
- 18-65 years old
- Have Singaporean citizenship, Permanent Resident status, or are a foreigner with a valid Work Pass
- Draw a stable income
Additionally, you need to be legally residing in Singapore, whether it’s renting a home or owning one here.
What are the considerations to make before taking up a monthly loan in Singapore?
Before applying for a money lender’s monthly solution, you need to first consider whether the loan is really necessary. If you can afford the lump sum your financial emergency requires without any serious impact on your budget for the following 6-12 months, a monthly loan’s interest and fees might not be worth it.
On the other hand, if you genuinely require a monthly loan, you need to decide on an amount and the instalments you can comfortably repay until the tenure is over. Don’t overborrow for your instalment loan and run the risk of incurring late interest and late repayment fees.
What supporting documents do I need to submit when I apply for a monthly repayment loan in Singapore?
As mentioned above, the supporting documents consist of your proof of identity, proof of income, and proof of residence in Singapore (if you are a foreigner). These include your:
- NRIC or passport
- A valid Work Pass (for foreigners employed in Singapore)
- Latest payslips or CPF statements
- Utility bill, telco bill, or rental agreement (for foreigners employed in Singapore)
How much am I permitted to borrow for monthly instalment loans in Singapore?
The table below serves as a guide for a monthly instalment loan’s borrowing limits:
Annual Income | Singapore Citizens or Permanent Residents | Foreigners employed in Singapore |
< S$10,000 | S$3,000 | S$500 |
S$10,000 – S$19,999 | S$3,000 | S$3,000 |
S$20,000 and up | Six times your monthly income | Six times your monthly income |
If my credit history is poor, will I still be able to get an instalment loan?
Yes, you can still apply and get approval for our instalment loan if you have a poor credit rating. Remember, licensed monthly loan money lenders view your income as the main criteria for approval, as opposed to your credit score. On that note, having an excellent credit score boosts the likelihood of you receiving preferential interest rates and even lower processing fees.
How can I better secure my monthly instalment loan?
To increase the chances of the monthly loan money lender approving your application, make sure you submit the correct supporting documents. Ensure your monthly repayment loan’s application is error-free, too. Additionally, apply for a loan amount not exceeding your income limit.
If you need an instalment loan greater than your borrowing limit, you’ll have to pledge an appropriate collateral. Contact us for more details regarding this.
Lastly, having a guarantor and/or good credit score also boosts the chances of approval for your loan application. It communicates to the private money lender that the loan will be repaid in good faith.
What happens if I can’t repay my monthly loan on time?
If you can’t repay a monthly instalment punctually, you’ll incur late interest and late repayment fees. This is capped at 4% a month and S$60 for each month the instalment is repaid late respectively. To prevent yourself from chalking up these charges, don’t wait until the last minute to settle that month’s instalment.