Raffles Credit Pte Ltd is a licensed moneylender (License No. 58/2022) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.
There are different loan types. Some may be weekly, bi-weekly, or monthly. Considering the challenges attached to making weekly repayment, especially for monthly income earners, the short term monthly installment loan is an excellent way to take advantage of our flexible terms and lower interest rates in our personal loans Singapore citizens and foreign workers can use to take care of their finances. If you receive a regular income and you have some finances to take care of, contact us and we are poised to help you with the financial assistance you need. Why should you take an installment loan with us? Because it’s easy.
Apply from the comfort of your home at https://www.rafflescredit.com.sg/. You may also reach us at 6235 1788.
Upon confirmation, you will be asked to come to our office to customize your loan plan
Get your cash as soon as the loan agreement has been signed
You must be at least 18 years old
For Singapore/PR residents: You must have regular employment or a source of income above $1,500 per month.
For Foreigners/Expats working in Singapore: You must have regular employment or a source of income above $2,000 per month.
Jane and John are very helpful, they listen and understand what customer needs and their tailor made financial repayment scheme.... read moreJane and John are very helpful, they listen and understand what customer needs and their tailor made financial repayment scheme. A great experience. Worth to visit if you need some assistance. read less
feeling happy and comfortable at here! All people here are nicely,thanks Rachel, John,Jane.Fast processing, very appreciate to them! Will recommend... read morefeeling happy and comfortable at here! All people here are nicely,thanks Rachel, John,Jane.Fast processing, very appreciate to them! Will recommend here for you guys. read less
Friendly staffs who assisted exceptionally well to all my loans need with good rates and repayment plan. Been utilizing their... read moreFriendly staffs who assisted exceptionally well to all my loans need with good rates and repayment plan. Been utilizing their service quite a number of times and am very pleased with their service. Will recommend. Thanks Raffles Credit! read less
Approachable and professional staff here. Thank you John, Rachel, Jane for understanding my situation and offering me the best suit... read moreApproachable and professional staff here. Thank you John, Rachel, Jane for understanding my situation and offering me the best suit financial solution. Never hesitate to visit them again when I need assistance in future! read less
Jane has processed application very professionally. I am very happy with her approach and service.
In fact this is NOT my... read moreJane has processed application very professionally. I am very happy with her approach and service.
In fact this is NOT my first application with Raffles. It is because of their professionalism and good attitude and service that I am at ease to go back to Raffles for my loans.
I would definitely recommend anyone to Raffles. read less
Rachel and John have been very professional and courteous in their dealings. They were very patient and listened attentively to... read moreRachel and John have been very professional and courteous in their dealings. They were very patient and listened attentively to my requirements before tailoring a suitable plan. highly recommended. read less
I had good experience, it was my first time. John & Jane guided me & making sure I understand every... read moreI had good experience, it was my first time. John & Jane guided me & making sure I understand every term before signing anything. Answered my questions patiently and clearly. Able to explain to me all the financial jargon words i do not know of. Quick fun guide to enjoy the nearby area as well! Kudos to both of them. They really helped me, literally 😀 read less
Had to borrow some funds last minute and both Jane and John has been really helpful with the whole process.... read moreHad to borrow some funds last minute and both Jane and John has been really helpful with the whole process. It’s my first time and lost on the process and they slowly guide me along and explain everything in detailed to me. Had some difficulties midway, and they listened to them carefully and addressed them! read less
Very efficient. The advisor is clear in her explanation and also very courteous. Proper checks are done and payment structures,... read moreVery efficient. The advisor is clear in her explanation and also very courteous. Proper checks are done and payment structures, advice is given properly to ensure borrower is clear on everything. Trustable moneylender. read less
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A monthly installment loan is any type of loan, such as a business loan, mortgage, or personal loan in Singapore that a borrower loans from and is repaid regularly and in scheduled installments. A payday loan isn’t generally considered due to its short term nature.
They can be used for any purposes like you would a personal loan; for the wedding of your dreams, a renovation sorely needed or even an unexpected emergency. The loans come with a fixed rate of interest that is added to and charged for monthly repayments. They are meant to offer a stable repayment scheme, making it easy for you to budget and track your expenses.
Monthly installment loans work by repaying a portion of the principal amount borrowed and also the interest on the debt owed. The sum stays the same from your first payment until the final payment, without changing. This allows you to schedule your repayment periods to coincide with your paycheck or other periods as you deem fit.
As responsible lenders, we always ask our clients before taking up a loan to be certain of a few things;
These are factors that must be thought about and discussed over before you take up the loan. While we understand that the monthly loan offers flexible repayment terms and lower interest rate would benefit you greatly, nevertheless, we must caution for some restraint and look into your budget and ability to service the loan as well.
Secondly, there are many agencies claiming to provide legal money lending services around Singapore. Only a select few are registered with the Ministry and bound by the Moneylenders Act and rules. You must check for their license number and only trust lenders who have shown great trustworthiness to their customers like Raffles Credit.
When considering taking out a personal loan, Singapore citizens and foreign workers should include a monthly repayment loan among their options. As a matter of fact, we will encourage you to give this loan option a second thought.
Some of the reasons why you should do that are:
Fixed repayment schedule
The biggest advantage monthly installment loans have over other loans is the fixed repayment sum. You will be repaying the same amount from the time you take up the loan until your final payment, ensuring that there will be no unpleasant surprises down the road when you start your repayments.
Ease of payment
With this loan, you won’t bother yourself about making weekly repayment. Since you already know when you will receive your pay, you can easily plan your repayment to coincide with when you will receive your pay since you have a fixed monthly repayment loan amount. That will spare you the stress of worrying excessively where the money for your next payment will come from.
Flexible terms
Installment loans are also one of the most flexible loans, making it easy to tailor the loan repayment schedule, tenure and amount that would match their ability to repay the loan. The monthly installment loans Singapore also comes with lower interest rates than what a borrower would get when using credit cards or other high-interest loans.
No collateral
This is one of the few loan options where the collateral is not required. This is a huge benefit especially if you don’t have enough collateral to offer for a loan.
Application is easy
It is quite easy to apply for this loan. If you need it for whatever purpose, you can kindly contact us and we will make sure that your application is promptly considered. However, before you submit your application, do find out if you meet the requirements listed above in our requirements section.
Get preliminary approval in 30 minutes by applying here