Singapore is known for its busy schedules when it comes to exchanging goods and services not only from within the country, but it also engages in imports and exports of the same. This makes it one of the business hubs in the world.

First thing first, what is a 12 Months Loan.

This word, 12 months loan, was invented from the United States and Great Britain to try and differentiate the period it takes to repay a loan. A 12 monthly loan is, therefore, a loan whose installments are formulated so that the borrower will be able to pay back the principal plus the interest within one year.

It is, in a way, an emergency loan, and the borrowers’ commitment has it that they will pay back immediately the get finances in the preceding month and clear paying it as the year comes to a close.

While the business is about buying and selling, getting extra financial support is inevitable. Most of the residents engage themselves in borrowing loans from moneylenders and other reputable financial institutions. However, it has never been easy to access a loan in as much as loans in Singapore so moving one from one level to another is exceptionally crucial. But then, even amid hardships, some moneylenders offer support to see that people access that financial support within the required time.

Some moneylenders offer 12 monthly loans with ease, though it is essential to engage them conclusively and get to know if they will offer the promised 12 months loan repayment plan.

This article will guide in knowing the correct procedure to follow, getting a less costly 12 monthly installment plan, and accessing the loan in the shortest time possible. And by the way, getting the right financial provider in Singapore has made people have the right direction and focus whether accessing personal loans, debt consolidation loans, asset financing, mortgage, and other most common options here.

What are the Features of a 12 Months Loan?

There are several of them and below are some have uniform characteristics in Singapore;

  • They are Short Term Loans– These are considered short-term loans because they get due as soon as the borrower receives the next month’s salary. There is no grace period involved in this type of loan.
  • Quick Approvals- Moneylenders involves in these types of loans approve them even if the credit rating is not good. However, the interest rate differs in such a case. For borrowers with good credit ratings, the interest rates are lower as opposed to those whose credit rating has been affected by previous loans.
  • They are considered fast Loan Disbursements- These loans are disbursed by moneylenders whose business is to offer quick services to their customers. This is contrary to what mainline banks do because they take a long time to disburse the loans.
  • Qualifications- The major qualification of these loans is that one must have achieved the age of 18 years, must be a Singapore citizen with identification documents, or a Singapore Resident with the permit to work in Singapore at the time of application.
  • Loans can be disbursed Online- Whereas there are various factors that one must consider before accepting online disbursements, a 12-month loan can be disbursed online. Still, there need to be background checks to confirm that the moneylender is legitimate to avoid being scammed by the loan sharks. Some of the identifiers are the physical location, advertisements through websites and signboards, a landline telephone number, and licenses by the government’s ministry to operate the money lending business in Singapore.

Which Eligible Companies Offer a 12 months Loan?

Before settling for a loan in Singapore, it is paramount that understand their terms and conditions, how affordable they are, and the company’s reputation.

Avis Credit Pte Ltd offers the 12 months loan conveniently and affordably. You cannot miss working with this company bearing in mind that it has been rated as one of the best, licensed by the ministry of law in Singapore, and has been in the industry for more than three decades.

Besides, their loans are flexible, and they do not have any hidden fees. If you want to get a 30-minute loan approval without challenges, visit, and your life will change for the better.

Here you stand to enjoy unsecured loans and convenient loans that you will manage to pay within your timelines and allocated budget.

Β What are the Qualifications of Accessing Loans at Avis Credit?

There are two modes of qualifications set out in applying for Loans in Singapore. These are for the Permanent Residents and Foreigners

In the case of Permanent Residents, here are the qualifications

  • Possession of an Identification card
  • Must have proof of residence which can be a utility bill, a tenancy agreement, or a bank statement.
  • Proof of employment and must provide a three months payslip
  • Singpass

In the case of foreigners, they must have;

  • A Passport,
  • Proof of Residence
  • Work Permit or an Epass
  • Sing Pass

Having analyzed this, let us look at the Advantages vs Disadvantages of a 12-month loan.


Flexible Loan Repayments– Reputable Moneylenders offer flexible repayment schedules for their loans, but it also depends on the borrower’s ability to repay the loan. The only thing both parties do is to agree on how the loan will be repaid.

Loans can be given even to those with bad credit ratings– Unlike banks, moneylenders give loans even to those whose credit ratings are wanting. By doing this, the borrower can rebuild their credit rating for the better and access loans later at lower interest rates.


Easy to become a Seasonal Borrower- The moneylenders are ready to offer one with a flexibility option for repaying. One gets addicted to borrowing even when it is not necessary. This ends up messing with one’s budget if the borrower is not disciplined.

Penalties– Accessing these short-term loans calls for discipline. Otherwise, one will be charged for penalties even on a 24-hour delay in repayments. Before making an application, read the terms and conditions carefully. Otherwise, you’ll be forced into the business of helping businesses grow while your finances are shrinking daily.

Moneylending is all about discipline. Do not borrow money unless necessary, especially if you are handling an emergency or a quick business deal has come up.

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