Compare the Best
Foreigner
Loans
in Singapore (June 2024)

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rates, apply online & settle faster.

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Updated June 6, 2024

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Loan Marketplace

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FOREIGNER LOAN CALCULATOR
Calculate your repayments

Loan Amount
34

$1,000

$200,000

Term
3

3 Months

48 Months

Monthly Interest
Your Monthly repayment will be
$9,700.88
Total Repayment

$58,200.00

Total Interest

$13,200.00

List of Foreigner Loan Providers in Singapore (June 2024)

Moneylender Max. Loan Amount (Singaporeans) Max. Loan Amount (Foreigners) Monthly Interest Rate Google Reviews
1 Fullerton Credit 6 times monthly income 6 times monthly income 1-4% 5.0
1st Credit SG 6 times monthly income 6 times monthly income 1-4% 5.0
365 Credit Solutions 6 times monthly income 6 times monthly income 1-4% 5.0
Orange Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Quick Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Raffles Credit 6 times monthly income 6 times monthly income 1-4% 5.0
A1 Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Abm Creditz Singapore 6 times monthly income 6 times monthly income 1-4% 4.9
Bugis Credit Up to $50,000 Up to $30,000 1-4% 4.9
Capital Funds Investments 6 times monthly income 6 times monthly income 1-4% 4.9
GS Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Horison Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Katong Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Credit 21 6 times monthly income 6 times monthly income 1-4% 4.8
Aero Credit 6 times monthly income 6 times monthly income 1-4% 4.3
JR Credit 6 times monthly income 6 times monthly income 1-4% 4.0

*Today's Moneylenders Rates - 6 June 2024

  • Foreigner Loans Basic

  • Tips and Hints

  • FAQ

Emergency Funds for Expats

Foreigner loans provide overseas professionals in Singapore fast access to cash to cover unexpected shortfalls between pay cycles or other urgent needs. Given the financial pressures facing most expats, these loans serve a valuable purpose but must be used judiciously given high costs.

Reviewing Lenders

Compare foreign loan lenders considering the following options:

Higher Interest Rates
Licensed Moneylender charge anywhere from 2-4% per month given higher risk profiles. Apply via ROSHI and compare various options to find the lowest foreigner loan rates and lending options.
Fee Structures
Check processing and early repayment fees which could easily increase total repayment amounts.
Loan Amount Limits
Based on income there are the following lending limits for foreigners in Singapore:
– Maximum $3,000 for below $10,000/month salaries
– Maximum $5,000 for below $10,000/month salaries
The Pros & Cons
While quick cash can help expats with urgent bills, repayment difficulties need to be considered:
Easy Access
With minimal eligibility limits pay day loans provide quick access to cash for overseas workers.
Balancing Debt
High interest rates & shorter loan tenures (usually between 1-6 months) means repaying the loan might be financially challenging.
Check Eligibility

Both banks and money lenders in Singapore require minimum residency terms starting from either 6 or 12 months. Apply via the ROSHI loan marketplace to check eligibility for various lending options.

Provide Application Documentation

Foreigners typically need to provide work or S-pass, 3 latest pay slips and either CBS or MLCB. Providing complete application documentation will increase chances of approval significantly.

Realisticaly Assess Repayment Ability

Some lending options have high interest rates of 3-4% per month hence it’s critical to check what monthly repayments you can afford based on your income and budget.

A Local Guarantor Improves Approval Chances

Having a local guarantor can improve approval chances and secure lower interest rates.

Improve Your Credit Score

Get a credit card from a local bank and manage monthly payments like utilities, groceries and other expenses. This will help build your credit score over time.

What loan options exist in Singapore for foreigners?

Foreigners with a valid employment pass, S pass or work permit can qualify for personal loans from local banks and licensed money lenders based on eligibility criteria.

What credit score or credit history is required for foreigners?

Lenders focus more on income stability and valid work status rather than unfamiliar foreign credit histories. But having some existing Singapore credit score helps demonstrate financial reliability.

What documents do foreign applicants need?

Foreigners should prepare work permits, proof of income statements, bank accounts showing salary deposits, housing agreement/bills, and for some lenders letters from employers.

How long does it take to get my loan approved?

Processing time can take from a few hours to days – some licencesed money lenders even provide instant approvals. Typically borrowers can expect loan approvals wihtin 24-48 hours.

How much time do I have to repay my loan?

Foreigner loans in Singapore often allow loan tenure anywhere between 1 to 7 years depending on the lender terms, though 5 years maxmium is common.

Types of Personal Loans

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