Foreigner Loan
BASIC REQUIREMENTS
To apply for a foreigner loan in Singapore, applicants are obliged to meet the requirements as follows:
- Be at least 21 years old.
- Hold a valid Singapore Work Pass (E Pass, S Pass, WP and LTVP)
- Employed on a full-time basis.
- Provide an employment letter from the place of employment.
- Have payslips from the last 3 months.
- Possess evidence of a residential address, such as a signed tenancy agreement, phone bills, PUB bills, or other utility bills.
Should you be in need of a foreigner loan in Singapore, simply head down to Orange Credit’s office, located about 5 minutes away from Paya Lebar MRT station, for a non-obligatory discussion with our amiable, highly experienced, and professional loan officers today!
Foreigner Loan
BASIC REQUIREMENTS
To apply for a foreigner loan in Singapore, applicants are obliged to meet the requirements as follows:
- Be at least 21 years old.
- Hold a valid Singapore Work Pass (E Pass, S Pass, WP and LTVP)
- Employed on a full-time basis.
- Provide an employment letter from the place of employment.
- Have payslips from the last 3 months.
- Possess evidence of a residential address, such as a signed tenancy agreement, phone bills, PUB bills, or other utility bills.
Should you be in need of a foreigner loan in Singapore, simply head down to Orange Credit’s office, located about 5 minutes away from Paya Lebar MRT station, for a non-obligatory discussion with our amiable, highly experienced, and professional loan officers today!
Foreign Loan Repayment Calculator
What is a foreigner loan?
Foreigners who are living, working, and studying in Singapore can apply for a foreigner loan from an authorised local money lender. Foreigner loans in Singapore, like personal loans, require applicants to fulfil the criteria established by the licensed money lender. In most circumstances, applicants who intend to apply for a foreigner loan in Singapore will need to provide documentation of legal residency or satisfy the greater income criterion in comparison to locals.
Foreigners who are living, working, and studying in Singapore can apply for a foreigner loan from an authorised local money lender.
What is a foreigner loan?
Foreigners who are living, working, and studying in Singapore can apply for a foreigner loan from an authorised local money lender. Foreigner loans in Singapore, like personal loans, require applicants to fulfil the criteria established by the licensed money lender. In most circumstances, applicants who intend to apply for a foreigner loan in Singapore will need to provide documentation of legal residency or satisfy the greater income criterion in comparison to locals.
Foreigners who are living, working, and studying in Singapore can apply for a foreigner loan from an authorised local money lender.
How does a foreigner loan work?
Our interest rates and processes are clear, straightforward, and fully transparent at Orange Credit, making it possible for foreigners who apply for a foreigner loan to understand their loan requirements and types. In general, a foreigner loan works in the way in which foreigners are required to produce the necessary documentation to demonstrate that they are lawfully working in Singapore. Furthermore, candidates for foreigner loans may be required to have a guarantor should they not possess a credit score.
The duration of stay in Singapore is another aspect that influences loan eligibility. Applicants are required to stay in the country for the course of the foreigner loan tenure until it has been completely repaid. After you submit a foreigner loan application, it will be examined by our professional loan officers, who will then negotiate the best loan scheme for you.
How does a foreigner loan work?
Our interest rates and processes are clear, straightforward, and fully transparent at Orange Credit, making it possible for foreigners who apply for a foreigner loan to understand their loan requirements and types. In general, a foreigner loan works in the way in which foreigners are required to produce the necessary documentation to demonstrate that they are lawfully working in Singapore. Furthermore, candidates for foreigner loans may be required to have a guarantor should they not possess a credit score.
The duration of stay in Singapore is another aspect that influences loan eligibility. Applicants are required to stay in the country for the course of the foreigner loan tenure until it has been completely repaid. After you submit a foreigner loan application, it will be examined by our professional loan officers, who will then negotiate the best loan scheme for you.
Why Choose Orange Credit?
At Orange Credit, we truly believe in lending a helping hand to foreigners who require a financial boost to get them through in the country. When faced with an unexpected financial circumstance, you may worry less with our foreigner loans and obtain the assistance you require to make any essential payments. When you apply for our foreigner loans, you can expect a pleasant and courteous service, as well as the strictest protection and confidentiality for your personal information.
INCOME
Applicants with a desire to apply for a foreigner loan in Singapore must provide documentation of legal residency or fulfil a higher income criterion in comparison to locals.
GUARANTOR
If an applicant applying for a foreigner loan does not possess a credit score, a Singaporean or Permanent Resident guarantor may be required.
DURATION
Applicants are required to stay in Singapore for the entire duration of the loan tenure until it is successfully repaid in full.
Frequently Asked Questions (FAQ)
How do I choose the right money lender for a foreigner loan?
Moreover, a legitimate money lender gives honest financial advice. You will be advised on the amount you may borrow within the legal restrictions based on your income. Should the money lender offer to lend you money that you could not easily payback, it would be a disservice to you. Hence, if you find that a particular money lender is more than ready to lend you money with no regard for how you will repay it, more often than not, it should be a cause for concern.
Lastly, the right money lender will disclose all information and explain the fine print in-depth so that there are no misunderstandings and hidden costs to worry about.
How to know if I am eligible for a foreigner loan?
- Be at least 21 years old.
- Hold a valid Singapore Work Pass (E Pass or S Pass).
- Employed on a full-time basis.
- Provide an employment letter from the place of employment.
- Have payslips from the last 3 months.
- Possess evidence of a residential address, such as a signed tenancy agreement, phone bills, PUB bills, or other utility bills.
What is the difference between a foreigner loan and a non-foreigner loan?
Foreigner loans and personal loans are, in essence, the same thing. The main distinction between the two is that the qualifying requirements for foreigners are different and typically stricter than those for Singaporeans.
How do I know if a money lender is licensed?
What do I need to consider before applying for a foreigner loan?
Following these tips will assist you in doing so:
- When applying for a foreigner loan, it would be best to understand why you need one in the first place. This will assist you in determining the amount you require, the length of time you should and can pay, and the best-suited plan for you. A reliable and licensed money lender will look into your financial situation before recommending a plan tailored to your specific needs.
- Choosing the right money lender is critical as it will determine the quality of services you receive. Thus, it is imperative that you take your time in selecting the best among the many money lenders that provide these services. In your search for the best money lender, you should prioritise whether they are legal above anything else.
- Your foreign loan’s terms and conditions are equally essential. They detail every aspect of the agreement between your money lender and you, as it defines the amount borrowed, the interest rate charged, the payment schedule, and the like. Hence, it is best to clarify any questions with your money lender before agreeing and signing it.
Frequently Asked Questions (FAQ)
How do I choose the right money lender for a foreigner loan?
Moreover, a legitimate money lender gives honest financial advice. You will be advised on the amount you may borrow within the legal restrictions based on your income. Should the money lender offer to lend you money that you could not easily payback, it would be a disservice to you. Hence, if you find that a particular money lender is more than ready to lend you money with no regard for how you will repay it, more often than not, it should be a cause for concern.
Lastly, the right money lender will disclose all information and explain the fine print in-depth so that there are no misunderstandings and hidden costs to worry about.
How to know if I am eligible for a foreigner loan?
- Be at least 21 years old.
- Hold a valid Singapore Work Pass (E Pass or S Pass).
- Employed on a full-time basis.
- Provide an employment letter from the place of employment.
- Have payslips from the last 3 months.
- Possess evidence of a residential address, such as a signed tenancy agreement, phone bills, PUB bills, or other utility bills.
What is the difference between a foreigner loan and a non-foreigner loan?
Foreigner loans and personal loans are, in essence, the same thing. The main distinction between the two is that the qualifying requirements for foreigners are different and typically stricter than those for Singaporeans.
How do I know if a money lender is licensed?
What do I need to consider before applying for a foreigner loan?
Following these tips will assist you in doing so:
- When applying for a foreigner loan, it would be best to understand why you need one in the first place. This will assist you in determining the amount you require, the length of time you should and can pay, and the best-suited plan for you. A reliable and licensed money lender will look into your financial situation before recommending a plan tailored to your specific needs.
- Choosing the right money lender is critical as it will determine the quality of services you receive. Thus, it is imperative that you take your time in selecting the best among the many money lenders that provide these services. In your search for the best money lender, you should prioritise whether they are legal above anything else.
- Your foreign loan’s terms and conditions are equally essential. They detail every aspect of the agreement between your money lender and you, as it defines the amount borrowed, the interest rate charged, the payment schedule, and the like. Hence, it is best to clarify any questions with your money lender before agreeing and signing it.
