Foreigner Loan Singapore
Get Quick & Easy Personal Loans for Foreigners in Singapore
As a foreigner working and living in Singapore, you’re bound to find city life quite difficult. When faced with an unexpected circumstance, you might think twice about whether you can make it. But with proper planning and budgeting, this might be the life you have been dreaming of.
As a foreigner, applying for any loan is not as easy as you think. Some financial institutions and banks have stricter policies when it comes to income and type of employment permit. So, if you’re facing an emergency with limited income, you might not qualify for the foreign loan you need. This is why Power Credit, a licensed money lender in Singapore, provides a loan designed for foreigners which provides:
- Easy Online Loan Application Process
- High Approval Rate
- Transparent Repayment Terms
- Low Interest Rates
- Instant Cash on the Same Day
As a licensed moneylender, we also cater to those who may face strict credit score requirements, offering unsecured loans with a straightforward application process to help you borrow money.
You can apply for a loan with a tailored loan amount and flexible repayment terms. Even if you’re concerned about your credit score, we provide options while adhering to legal stipulations.
We are ready to lend a helping hand, ensuring you have the financial support you need now and for any loan in the future.
Benefits of a Foreigner Loan with Power Credit
Discover the advantages of getting a loan with us.
- Enhanced credit score
- Flexible loan tenures
- Quick application process
- Increased convenience
3 Simple Steps to Get Your Fast Cash Loan
Get the Cash You Need Hassle-free.
1. Submit Online Application
Apply via Singpass or complete the online loan application form. It only takes 3 minutes.
2. Receive Application Status
You’ll be informed of the loan outcome and maximum amount within an hour.
3. Quick Cash Disbursement
Visit our office, sign the contract, and receive your loan immediately.
What are the Requirements, and Eligibility Criteria for Foreigner Loan Application?
Power Credit Enterprise will help you with your financial needs with our personalised foreigner loan services.
We have made our loan procedure for foreigners and expats simple and easy.
To qualify for a foreigner loan with us, borrowers must be Permanent Resident or a Foreigner with a valid work permit, at least 21 years old, and employed / self-employed. You are required to submit the basic requirements:
- Work Permit / S Pass / E Pass
- Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
- Payslips / bank statements
Consider applying for a foreigner loan with us today to secure the financial support you require.
Frequently Asked Questions
A foreigner loan is a financial option designed for applicants who are foreigners working in Singapore and need money for specific needs.
Foreign loans serve various purposes, allowing foreigners to address their financial situation effectively. It helps you cover your living expenses, outstanding phone bills, internet bills or even credit card bills, and unexpected costs such as medical bills or urgent repairs.
A credit score is a number used by moneylenders to assess the likelihood of an individual repaying their debts and the risk of defaulting on loans. It is a four-digit number derived from an individual’s payment and loan history, ranging from 1000 to 2000, with a risk grade from AA to HH.
- Lower scores (1000, HH) indicate a higher chance of defaulting.
- Higher scores (2000, AA) suggest a lower risk of defaulting.
A higher credit score makes it easier to obtain loans. Financial institutions also consider your salary, employment terms, and bankruptcy information when evaluating loan applications.
If you are able to make punctual loan repayments, your credit score will improve.
With a good repayment record, it increases your credit score and makes it easier for you to secure a loan in the future. A good credit score may help you obtain lower interest rates as well.
When applying for a foreigner loan in Singapore, ensure the money lender is licensed and compliant with regulations. Check the Ministry of Law’s website for a list of licensed money lenders.
A reputable moneylender provides honest financial advice, advising you on the amount you can borrow within legal limits based on your income. Be cautious of lenders willing to lend without considering your repayment ability.
Lastly, the right lender will disclose all information and explain the fine print to avoid misunderstandings and hidden costs.
Apply and Get Your Cash Today!
Enjoy fast approval and immediate access to funds. Our loan officers will be happy to assist you!
