Life is very uncertain and at some point, you may be faced with some financial challenges. At this point, you get stranded and you try looking for a rescue plan. This is where 12-months loan lenders in Singapore come in. They come with different offers until you are lost of choice.

A 12-months loan is a perfect option to deal with emergency needs. Find out more about the loan here below.

Eligibility and Requirements

Different money lenders operate differently. You may find that the requirements sort by one lender is different from another. Therefore, it is important to compare different 12-month loan money lenders in Singapore before settling on one. However, there are those requirements that are a must regardless of the moneylender you choose. These are the bare minimum as set by the ministry of lay under Singapore Moneylender’s Act. They include the following:

For Singapore Citizens and Permanent Residents

  • Must be 18 years and above
  • Regular source of income of at least SGD 1,000 per month
  • Identity Card/NRIC
  • Proof of residence
  • Tenancy agreement
  • Three recent payslips
  • Employment letter
  • SingPass to access CPF, HDB, IRAS e-services

For Foreigners

  • Regular source of income of at least SGD 2,000
  • Employment Pass that is valid for twelve months
  • Proof of residence
  • Latest Bank statement for at least six months
  • A copy of passport or any other travel document
  • SingPass to access CPF, HDB, IRAS e-services

Benefits of 12-Months Loan

  • When the loan is spread for 12 months, you get time to sort out your finances
  • 12-Months loans are categorized under short-term loans and their approval rate and disbursement are very fast and thus can be used for emergencies.
  • They are flexible as they can be customized to suit the client’s needs
  • They are cost-effective in the long run as the interest is only paid for a short period.
  • They helps in absorbing the impact of seasonal changes as you can quickly inject money into your business to keep it afloat.

Types of 12-Months Loans

There are three types of 12-months loans that are offered in Singapore namely; Personal loans, Business loans, and Foreigner loans.

Each loan is offered under different circumstance given the different financial situations

Personal Loan

As the name suggests, a personal loan is a loan acquired for any personal need. It does not necessarily have a specific use. You can use it for emergencies, school fees business, travel, name them.

Business Loan

This loan is meant to keep your business afloat. You can either apply for this loan to boost your working capital or to start up a small business. The sole purpose of this loan is to finance any business need.

Foreigner Loan

As the name suggests, this loan applies only to foreigners. Its features are just like those of a personal loan. The only difference is that a personal loan is only meant for Singapore Citizens and permanent residents.

Where can you find a 12-Month Loan Lender Singapore?

It is important to note that Loan sharks do exist in this industry. Ensure that you only engage a Licensed Money Lender in Singapore. You can look up for Licensed Money Lenders in Singapore in the Ministry of Law’s website.

For consideration, visit Avis Credit Singapore for competitive rates.

Why Choose Us?

  • We are Licensed, Money Lenders
  • Quick turnaround time
  • Customized loans
  • Competitive interest rates
  • The simple loan application process


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