There are quite a few licensed moneylenders who are committed to helping foreigners in Singapore as they understand that it is not easy for them to get by in this country when they are living on their own. They have to juggle work and life while their families back home may not be able to help them out in times of need. It can also be frustrating when their credit isn’t good enough to qualify for a loan in Singapore as banks have stringent requirements and usually require a guarantor to offer security against their debt.
Unlike banks, licensed moneylenders are often more relaxed when it comes to the minimum salary required to take up a loan for foreigners singapore and their process is much faster. They can even approve a loan within 30 minutes of applying depending on the situation. It is important to consider the loan interest rate and other side fees such as processing charges when choosing a lender. These extra charges will add up over time and it is therefore important to choose a lender that offers the lowest possible fees to elude these additional costs.
Trillion Credit is one of the more popular licensed moneylenders in Singapore that provides loan for foreigners singapore to those who need it. Their requirements are more flexible than that of banks and they are willing to provide loans up to 6x monthly income for eligible borrowers. However, their website is not clear about the exact minimum salary requirement so it would be best to contact them directly online to request a personal loan quote for your specific needs.