Need quick cash for foreigners in Singapore? Compare foreigner loans here.
A foreigner loan is essentially a personal loan for foreigners (i.e. cash loan for foreigners in Singapore).
Yes, foreigners can get a personal loan in Singapore so long as they meet all the eligibility and income requirements stipulated by the lender.
Take note that not all foreigners can apply for a foreigner loan — tourists and foreigners transiting through Singapore are not eligible for foreigner loans. Foreigner loans are only available to legal residents of Singapore who are not citizens or permanent residents.
The eligibility and income requirements for a foreigner loan vary depending on whom you are borrowing from.
In general, you’ll be required to provide the following when applying for a foreigner loan from a legal money lender in Singapore:
Proof of residential address, for instance billing proof or a tenancy contract
Latest three months of payslips
You can get a foreigner loan from banks and legal money lenders in Singapore. There are bank loans for foreigners available to foreigners in Singapore. Similarly, there are many money lender loans designed for foreigners in Singapore.
There aren’t many types of bank loans in Singapore for foreigners. In addition, only a number of banks offer them and they usually take a longer time to process your loan application.
Foreigners stand a higher chance of getting a quick cash loan from reputable licensed money lenders in Singapore compared to major banks as long as all required documents are in place.
Licensed money lenders offer a more streamlined application process that’s backed with fast approvals. Their eligibility criteria are much less stringent compared to banks, too.
To find the best foreigner loan in Singapore for your unique needs and circumstances, it is best that you compare loan offers across different lenders. You can do so by filling out the loan form here in just a minute or two.