How to Get a Foreigner Loan in Singapore
Getting the cash you need in Singapore can be hard for foreigners, but there are options to get a loan that can make life easier.
Whether you’re here for work, education, or just visiting friends, you can always count on a money lender in Singapore to provide financial help when you need it. These licensed moneylenders don’t require a high credit rating or a guarantor, which makes it more affordable than a traditional bank.
In order to qualify for a foreigner loan, you need to prove that you are a legal resident of Singapore. This can be done by submitting your passport, FIN card, or employment pass to the lender.
Your income is another important factor. This can be verified with your pay stubs, tax documents, and bank statements.
You will also need to provide proof of your current residence and address. This can be done by presenting your passport, employment pass, or dependent pass to the lender.
Personal loans for foreigners are available through most local banks and licensed money lenders, but you should check your eligibility first before applying. The eligibility criteria varies from one lender to the next, so make sure you do your research and find out what the best offers are.
A guarantor may be required for a foreigner loan, but it’s usually not necessary as long as you have a good credit score and a strong income flow. The loan guarantor will be responsible for paying the debt back in case the main applicant fails to repay the loan. foreigner loan singapore