What is a Foreigner Loan?
A foreigner loan is provided by licensed moneylenders in Singapore to expats/foreigners who work, live, and study in Singapore. As with personal loans, foreigner loans need applicants to fulfill certain criteria, such as higher income requirement. Below is the list of requirements required:
- At Least 21 Years Old.
- Working on a Full-time Basis.
- Proof of Legal Residence.
- Proof of Income.
- Valid Work Pass or Employment Pass.
How Does A Foreigner Loan Work?
We ensure that the process and charges are clear and transparent, letting foreigners that apply for a cash loan to fully understand what are the requirements and criteria. Relevant documents such as Valid Work Pass or Employment Pass are required to prove that you are working legally in Singapore.
The duration of stay in Singapore is also another factor that affects the eligibility of the loan. For the duration of the loan tenure, applicants must remain in Singapore. After you submit a cash loan application, our loan consultants will review and process your application, and subsequently they will plan the most suitable loan scheme for you.