Monthly Loan

Monthly Loan

There are different loan types. Some may be daily, weekly, or monthly. Considering the challenges attached to making daily or weekly repayment, especially for monthly income earners, the monthly repayment loan is another way such individuals can take advantage of the services of Advance Planners Credit to take care of their finances. If you receive monthly 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 a monthly repayment loan?

Benefits of monthly repayment loan

When considering taking a loan, you should include monthly repayment loan among your 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:

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 amount. That will spare you the stress of worrying excessively where the money for the next payment will come from.

No collateral: This is one of the few loan options where 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, check yourself whether you meet the requirements listed below.

Monthly Loan Requirements

You must be either a Singaporean, permanent resident or foreigner working in Singapore.

Anyone below age 18 or above 65 years of age is automatically disqualified from applying for the loan.

You must have a regular employment or source of income with an annual income that is $18,000 and above. If your annual income is below this amount, your chances of getting the loan are reduced.

In addition to the conditions mentioned above, you must also present the following documents:

Original NRIC.

Any foreigner is required to make his or her employment pass available for verification.

Make a copy of your CPF Contribution statement available. In the absence of that, your Income Tax Notice of Assessment should be made available.

Since you have to meet a basic income limit, your proof of income should be readily available to determine your eligibility for the loan based on your income.

You have to ensure that you can make your repayment on a monthly basis without defaulting in repayment. This is essential if you want to avert the late charges meted out to defaulters.

It is beneficial if you take a monthly repayment loan to address some of your financial issues than watching the problem become bigger than you can handle.