Skip to content

An All-Inclusive Guide to
Foreigner Loan In Singapore

Your Privacy and Security, Protected

We take full measures to protect your identity.

Your Application is 100% confidential.

Small Loans, Big Solutions

Access extra cash when you need it the most from your online lending partner.

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Eligibility and Documents Needed

Loan applicant must be aged 21 years and above

Singapore Citizen or Permanent Resident

In employment

Eligibility and Documents Needed

For Self Employed

For Taxi Drivers

Monthly Installment Calculator

Get the numbers you need here.

How much do you want?
$ 5000
How long do you want it for?
Total Interest:

$ 180.00

Total Payment:

$ 5,180.00

Weekly Installment:

$ 1,295.00

We Take The Stress Out of Borrowing
With 4 Simple Steps

Sign-Up Online

Fill up our loan inquiry form after using the online loan calculator. Get a call from our loan officer to schedule your visit with us.

Verify Information

Visit us and bring your personal documents. Our loan officer will verify your information as part of our due process.

Get Funds

Get your funds in as fast as 30 minutes after signing your loan agreement with us.


Make sure to repay your loan on time to get a hassle-free higher loan amount. Pay through PayNow, bank transfer or in-person.

An All-Inclusive Guide to Foreigner Loan In Singapore

Yes, a foreigner can apply for a loan in Singapore. One needs to be in possession of a valid work permit to apply.

Ensure that you apply for your loan from licensed money lenders. Licensed moneylenders offer a variety of schemes tailored especially for foreigners.

  • A foreigner loan is a fast cash loan for expats in Singapore. Foreigners who bear a work permit are eligible to apply for a Foreigner Loan.


  • Foreign Loans are flexible. They can use it in any way. Expats who have urgent needs can apply as long as they have a valid work permit.


  • Foreigner Loans are personal loans. This eans you do not need collateral or guarantor to apply.

Foreigner loans are unsecured loans that do not need collateral or a guarantor. This means there are fewer requirements needed compared to secured loans.

Licensed money lenders understand foreigners’ unique needs as they live in Singapore. They recognize the need for immediate funds. This is why they develop a payment scheme suited to your current finances.

Need to send extra funds back home?

Choose a moneylender that can give out the funds you need in 30 minutes to 1 hour. You will receive your loan immediately directly to your bank account or in cash.

Once you have your money, make sure that you can repay on the agreed terms. This will keep your credit score positive.

Every licensed money lending company has its own policies on loan applications. But they all need the basic qualifications and documentation. Each loan application goes through a due process mandated by the Moneylenders Act.

A foreigner loan is usually needed for urgent situations. The easiest to get is the online foreigner loan.

With the online foreigner loan, there is no need to visit the company’s office to fill out the loan application.

Visit the website of your chosen licensed moneylender. Start signing up online. If you are prequalified based on your basic information, the lender will schedule a meet up with you.

Bring the necessary documents. Sign the contract after verifying your information and discussing the loan agreement.

The process can take at least 30 minutes.

Most banks do not allow foreigners to apply for unsecured loans. This is because they can leave the country. So this makes them high-risk borrowers.

Banks have rigid requirements for expats when applying for a personal loan. They are more rigorous than the foreigner loans offered by licensed money lenders.

Consider borrowing from licensed money lenders in Singapore. They provide a variety of flexible personal loans catered to foreigners. They require lesser requirements and documentations than banks. They can create a payment scheme catered for your current financial standing.

Make sure that your chosen moneylender follows the Moneylenders Act. They must be a member of the Credit Association of Singapore (CAS).

There are a lot of reasons why foreign workers get a personal loan:

  • Rental Deposit
  • Tuition fees of your kids
  • Downpayment for a car
  • Emergency funds you can send back home
  • Buy big-ticket items to help you settle in your home here in Singapore like furniture and appliances.

Applying for a foreigner loan is easy.

First, you must visit the website of your chosen licensed moneylender.

Second, fill out the application for the foreigner loan. Wait for the loan manager to call and arrange an appointment at your convenience.

On the day of your appointment, go to the licensed moneylender’s office to discuss your loan. Ensure that the agreement has been carefully explained and discussed with you. Then sign the loan contract.

You must understand the terms and conditions of the loan agreement. This will avoid unnecessary problems in the future.

Once everything is complete, you will receive your funds.

Usually, a foreign loan requires the following to apply:

  • Must be at least 21 years old
  • Regular source of income
  • Payslip
  • Valid work permit
  • Letter of employment
  • Valid passport
  • Contract of employment
  • Copy of your Income Tax Notice of Assessment
  • Have a Tenancy Agreement
  • Bank statement of the account that your salary

    There may be more requirements depending on the licensed moneylender.

Foreigner loans are usually for urgent needs. As long as all requirements are valid and approved, you can secure your loan within an hour.

With the online foreigner loan, it is possible to get a scheduled consultation within the day. Once approved, you can receive your funds immediately.

If you want a new loan, you can negotiate for a better loan offer using the same quick application. Just make sure that you have a healthy relationship with your direct lender.

Applying for any kind of loan is a huge responsibility. You need to consider your financial health before applying for any kind of loan.

Consider the loan amount and your capacity to pay within the agreed repayment term. Too little an amount will cause you to borrow again, while too large an amount may cause you to miss payments.

Licensed money lenders can provide an online loan calculator. Use this to get an idea of how much you have to pay in instalments. And whether you can pay it with ease.

Get a loan only from licensed moneylenders.

Avoid getting a loan from unlicensed money lenders. They lend a higher amount of money. Yet, they also charge exorbitant interest rates and fees.

Many think that all loan sharks have exorbitant interest rates. But some loan sharks may have a low-interest rate but they have high late payment charges. They will choose a payment term that will be hard to meet.

Do not deal with loan sharks no matter how fast their loans process is. The Ministry of Law also penalizes individuals who associate themselves with ah longs.

Anyone who can provide the necessary documents can apply for a legal foreigner loan. They must meet the eligibility requirements of the financial facility.

The Moneylenders Act requires licensed moneylenders to conduct due process. They follow strict guidelines when providing loan services.

Lenders need to ensure that the foreigner can repay despite various financial responsibilities.

If securing a loan is too easy and no documents are required, you are most likely negotiating with a loan shark.

There are many licensed money lending companies that offer a variety of loan terms. But having many options is overwhelming.

You decide and figure out how much you need to borrow.

Calculate the amount you need to borrow and repay. Consider the time needed to settle the full amount and compare your options. Hunt for good deals and look for lenders with qualifications you can provide.

Do your research and pick the foreigner loan that best suits your needs.

Licensed money lenders are controlled by the Ministry of Law in Singapore. The rules and regulations are often updated. This is to ensure that the money lending industry remains fair and safe for all involved.

The Ministry of Law placed caps on unsecured loans.

Expats who earn less than $20,000 annually, will be capped at $3,000. This is the maximum amount of total loan that moneylenders in Singapore can provide.

For those earning more than $20,000, the total loan will be capped at 6 times the monthly salary.

Loan cap includes only the principal loan amount. Interest charge and other fees are not included.

The regulations of MinLaw govern unsecured loans. A foreigner loan is an unsecured loan, and thus subject to strict guidelines on loan services.

Foreigner loan computations are based on the borrower’s annual income. The calculation for the annual income is based on the average salary for the last 3 months. This is 3 months before the loan application.

When using the foreigner loan payment calculator, type in the amount you want to borrow. You must also enter the repayment terms that allow you to easily settle your loan.

Remember to consider your daily needs aside from your loan repayments. You have other bills to pay so make sure that everything is budgeted well.

The loan calculator allows you to check if you can repay it successfully. You should not have to sacrifice your basic needs to pay your loan. The loan calculator will help you adjust your finances adequately.

Interest rates vary in every financial situation. Interest rates for foreigner loans may be higher than the usual personal loan. This is because expats are considered high-risk borrowers. Some financial institutions base the interest on the credit score. Others base it on the employment history in Singapore.

Nevertheless, make sure that you apply for your loan from a licensed moneylender. The interest rate will not be more than 4%.

Foreigner loans are tools that can aid in stabilizing your finances. A foreigner loan can help in urgent situations. It only depends on your financial skills and self-control. It can also build your credit score.

Make sure that you can confidently repay the loan. You must also be able to handle your other financial responsibilities as well.

There are a variety of reasons for the denial of a foreigner loan application. The foremost reason is the low credit score.

The licensed moneylender must secure the necessary information from the loan applicant. This is done before loan approval. They will verify the information and identification with up-to-date, legitimate documents.

The Moneylenders Credit Bureau will check the information provided. The lender needs to inform the applicant that the information is sent to the Bureau. The credit record will be generated from the information received. It will be kept secured in the record of the lender.

The credit report is the record of your past loans. The moneylender will give you a credit score based on what they see in your credit report. A low credit score means unsatisfactory payment behaviour. The low credit score means that you are likely to default a loan. With a high credit score, there is a higher chance for loan approval.

If declined, the lender will dispose of your credit record. If approved, the lender will keep your record for 5 years until you finish your repayments.

Another reason for a denied foreigner loan application is exceeding your loan cap. This is based on your salary. The MinLaw aggregates loan cap on lenders that offer unsecured loans.

If you earn less than $20,000, you can only borrow until $3,000.

If you earn more than $20,000, you can borrow up to 6 times your monthly salary.

You must ensure that you do not exceed your maximum loan with other lenders. Otherwise, if the lender notices the excess, you will be declined.

You will also be declined if your documents are not complete.

Even if you borrow a small amount, you need to make sure to pay the loan on time. This will reflect on your credit history.

Moneylenders are strict when it comes to updating your credit report. In the future, you may decide to apply for a loan in banks and financing facilities.

Your credit score will be the main consideration in loan approval. Building a good credit score will ensure fast approval if you decide on applying for other loans.

Licensed moneylenders follow strict guidelines placed upon them by the MinLaw. They can only divulge information to the applicant. They can also give information to Moneylenders Credit Bureau and the Registrar.

This also applies to all registered moneylenders offering foreigner loans online.

Your personal information will be kept safe at all times.

Online loan applications make everything more convenient. The nearest foreigner loan can be made comfortably in your own home.

You can apply for a foreigner loan online any time, anywhere and any day of the week. Once you signed up, a loan officer will give you a call. You will get a schedule for the most convenient time for you to visit their office.

Visit the office of your chosen moneylender and bring your required documents. They will discuss your loan application, fees and terms. There you can sign the contract, and get your funds in cash or directly to your bank account.

Latest News

Read the latest news about financial products in Singapore and the best money saving tips.

ANZ Online Singapore

ANZ Online Singapore: Easy Guide to iBanking

How to create an ANZ iBanking account? Internet banking is one convenient way to do banking transactions. It’s one great
Read More

CIMB CashLite Personal Loan: Is it worth it?

What is CIMB Personal Loan? CIMB Personal Loan is a borrowed money that you can use for various purposes. You
Read More
POSB Education Loan Singapore

What Is a POSB Education Loan?

POSB Singapore offers one of the best education loans in the country. Individuals who get this financial service receive competitive
Read More
Maybank Personal Loan Singapore

Is Maybank Personal Loan Singapore beneficial?

Maybank Singapore is one of Asia’s superior banking groups. It offers wide-ranging products and services.  Maybank has over 2,600 branches
Read More
DBS Personal Loan Singapore

Things You Need To Know About DBS Personal Loan Singapore

What is a DBS Personal Loan? Are you looking for a credit option that will help you achieve your financial
Read More
Standard Chartered Personal Loan Singapore

How Standard Chartered Personal Loan Works?

Singapore Standard Chartered is a distinctive banking institution. It holds several services that all members have a privilege. Opening an
Read More