Personal Loan For Foreigners

Yes, foreigners can apply for a loan in Singapore. Licensed moneylenders are an excellent option for a foreigner looking to obtain time-sensitive funds, especially when a bank loan may involve lengthy processes and stringent requirements. 

As a licensed moneylender in Singapore, we offer loans to foreigners. You can think of a foreigner loan as a type of personal loan designed for non-citizens who live and work in Singapore. Our basic requirements for this loan are simple—you must be at least 18 years of age with a minimum monthly income of SGD1,800. 

We’ll also require some personal documents to determine whether you qualify for a foreigner loan, including your valid work permit, Employment Pass or S Pass.

Yes, foreigner work permit holders can apply for loans with licensed moneylenders in Singapore.  

Do note that your work permit must have a 6-month validity period to be eligible for a loan. Our streamlined and hassle-free loan application process will let you receive your loan funds within 30 minutes, regardless of your nationality. 

At Quick Loan, we also accept Singapore Employment Pass holders and S Pass holders who meet all our eligibility criteria and provide the necessary documents. These include your passport, proof of residence, payslips, bank token, employment contract and staff card.

During the in-person consultation, we’ll verify these documents and gather more information from you to determine the ideal loan amount and repayment plan for your needs.

All loan products at Quick Loan are unsecured, including our personal loan and big-ticket loan items.

The total sum of unsecured loans you may take at one time from different moneylenders depends on your income level. If you’re a foreigner making less than SGD10,000 a year in Singapore, you can borrow a maximum of SGD500 in unsecured loans. With an annual income between SGD10,000 and SGD20,000, you may take out SGD3,000 worth of unsecured loans.

Finally, an annual income of SGD20,000 a year entitles you to take out unsecured loans worth up to six times your monthly earnings.

Yes, if you’re a foreigner with a valid work permit and residence in Singapore, you should have no trouble accessing fast instant loans from licensed moneylenders. 

As a foreign applicant, you must present a work permit, Employment Pass or S Pass with a 6-month validity period. We’ll also need your passport, residence information, payslips, bank token, employment contract and staff card. These documents help us evaluate your eligibility and loan terms. 

Keep in mind, however, that licensed moneylenders in Singapore are subject to a quota—we may only give out loans to 15 unique foreign borrowers a month. This quota applies to all foreign clients except those who make more than SGD50,000 a year. We recommend that you give us a call before coming down to our office.

Yes, S Pass holders qualify as working foreigners in Singapore. This makes them eligible to apply for loans from licensed moneylenders in the country, including personal loans, medical loans and more.

Besides S Pass holders, Quick Loan also welcomes foreign applicants with valid work permits or Employment Passes.  You can send an application to us online, through WhatsApp, or by visiting our office. 

We’ll provide you with a dedicated loan officer who will assess your application and conduct a free in-person consultation, where you’ll present all the required documents for a foreigner loan. 

Once your loan is approved, you can receive your funds instantly and look forward to an affordable repayment plan customised to accommodate your financial situation.