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Raffles Credit Pte Ltd is a licensed moneylender (License No. 40/2024) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Monthly Loan

Get the best financing options you can tailor to your every need when you take up our installment loans

  • Easy installment plans
  • Clear repayment terms
  • Quick loan disbursement
  • Lengthy loan tenures
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Monthly Loan

Providing The Best Options For Your Life, One Step At A Time

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.

worker taking loan happily

Application Process

Person using computer
Call or Apply Online

Apply from the comfort of your home at You may also reach us at 6235 1788.

Visit Our Office For In-Person Consultation

Upon confirmation, you will be asked to come to our office to customize your loan plan

Receive Your Money on the Same Day

Get your cash as soon as the loan agreement has been signed

Eligibility & Requirements


You must be at
least 21 years old


For Singapore/PR residents: You must have regular employment or a source of income above $2,000 per month.


For Foreigners/Expats working in Singapore: You must have regular employment or a source of income above $3,000 per month.

For Singapore / Permanent Residents(Minimum income > $2000)
  • Identity card / NRIC
  • Proof of residences such as a recent bill or letter addressed to you (only applicable if you do not own the residence)
  • Tenancy agreement (only applicable if you are renting a flat)
  • Recent 3 months payslip and employment letter if your current employment is less than 6 months
  • Know your SingPass (log into CPF, HDB, IRAS website)
For Foreigners
(Minimum income > $3000)
  • A valid work permit / S Pass / Employment Pass
  • Passport
  • Proof of employment (staff pass or company pass)
  • Recent 3-month payslips & employment letter
  • Proof of residence such as a tenancy agreement, recent bill or letter addressed to you
  • Latest bank statement of account to which yearly or monthly salary is credited
  • Singpass (to download IRAS NOA)
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Ready To Get Started?

Request for a quotation from our friendly officers by filling out the form below

Frequently Asked Questions

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;

  • The type of loan they are looking for
  • The amount they really need, not want
  • Their repayment capabilities

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.

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