Foreigners' Loans

Foreigners in Singapore may not have much recourse, as their families are in different countries, while they are here working hard to help support them. It can be very difficult when something unfortunate happens here, with no one to help, or back home when the sole breadwinner may not be there to secure a loan.

A foreigner loan is a personal cash loan accessible to permanent residents or non-citizens studying, working, or living in Singapore. Unlike personal loans for Singaporeans, the approval for this loan depends on the applicants’ income requirement, salary, and employment pass/permit type. Expatriates struggle with getting personal loans from banks due to the collateral requirement. Foreigners are most likely dependent on their salary for financial security, which makes finding an affordable loan a challenge — an unpleasant scenario, especially if you’re in the midst of an emergency. A foreigner loan covers for your unique financial needs. When you get in touch with our loan consultants, we immediately discuss your available options. All of our loans suit a variety of budgets, and we adjust them according to your specific needs.

How to Apply for Our Foreigner Loan

We understand how complicated it is for expats to secure a loan. At United Credit, we make the process easy and hassle-free. To be eligible for our foreigner loan, you must be at least 18 years old and have a valid work permit. We also require the following documents:

Employment pass
Employment or confirmation letter from your employer
Payslips from the past three months
PassportTenancy agreement (only if your current dwelling is rented)

Any questions about the required documents or application process? Give us a call and we will talk you through the process.

Housing Loan that will ease your burden.

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Frequently asked questions

How do I qualify for loans?

Be a citizen or permanent resident of Singapore, or for foreigners, have a passport and employment pass.

Be above 21 years of age, and is not an undischarged bankrupt, nor facing any bankruptcy proceeding.

Be permanently employed, have a valid work permit (for foreigners) or self-employed with a valid income prove.

What is the maximum loan I can apply for?

United Credit will be able to grant a loan equivalent to 6 months' worth of your salary. However, it is still dependent on our analysis of your financial situation.

Am I still able to apply for loans if I have bad credits?

Having a bad credit does not hinder us from releasing loans for you, as long as you fit the requirements.

How do you know if you're approaching loans from a licensed money lender?

Verify that a moneylender is licensed by checking the list of licensed moneylenders here.

Can I apply with United Credit if I have existing loans?

Yes - You will still be able to apply for loans. Our Loan Consultants will access your financial capabilities and curate flexible loan rates best suited for your situation.

Is my Information confidential?

Yes - United Credit places customers' privacy at the utmost importance. We will never divulge any of your personal information to anyone.

How do I apply for loans with United Credit?

Simply give us a phone call and set an appointment with us!

What are the fees United Credit charges?

With effect from 1 October 2015, all moneylenders are only permitted to impose the following charges and expenses:

A fee not exceeding $60 for each month of late repayment;

A fee not exceeding 10% of the principal of the loan when a loan is granted;

Legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

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