Foreigners living in Singapore can get quick online loans safely. You need to use real websites from banks or money lenders that have proper licenses. The Ministry of Law (MinLaw) controls these money lenders. Always pick lenders from the official MinLaw list. This keeps you safe from illegal loan sharks called “Ah Longs”.
Best Places to Get Quick Online Loans
Big Banks in Singapore
Standard Chartered Bank
- Has the CashOne Personal Loan with fast approval
- You need to earn at least S$90,000 per year if you are a foreigner
HSBC Bank
- Gives personal loans with quick online approval
- Foreigners must earn at least S$60,000 per year
Trust Bank
- Offers instant loans if you have their credit card
- Foreigners need to earn at least S$60,000 per year
CIMB Bank
- Has personal loans with special deals for Malaysians working in Singapore
- Lower income needs than other banks
Licensed Money Lenders
These lenders work faster than banks. They also have easier rules for foreigners to qualify.
How to Check if They Are Real
- Look at the Ministry of Law’s official website list
- Real money lenders will make you sign papers at their office in person
Good Licensed Money Lenders
- Lending Bee: Fast and flexible loans for foreigners
- Cash Direct: Online forms that work with Singpass MyInfo
- 1AP Capital: Approved by MinLaw and accepts foreigners
Loan Comparison Websites
MoneySmart and Lendela
- These sites let you compare different loan offers
- You can apply through them
- They work with Singpass MyInfo to make things faster
How to Stay Safe When Getting a Loan
Follow these important rules to protect yourself:
Check the Lender is Real
- Look at the Ministry of Law website for the official list
- Never use a company not on this list
Watch Out for “Always Open” Claims
- Real licensed money lenders cannot work 24 hours every day
- They must meet you face-to-face to check who you are
- Any lender giving instant cash without meeting you is illegal
Know the Interest Rate Limit
- Licensed money lenders can only charge up to 4% per month
- If they want more, they are illegal loan sharks
Meet Face-to-Face
- Real lenders will make you come to their office
- You must sign loan papers in person
- Avoid lenders who want to do everything online only
Spot Warning Signs
- Licensed lenders cannot use bad language or scare you
- Avoid lenders who threaten you or have hidden fees
What Foreigners Need to Qualify for Loans
Most lenders will ask for these things:
- Be 21 years old or older
- Have a valid work pass (Employment Pass, S Pass, or Work Permit)
- Show proof you have a steady job and income (pay slips or bank statements)
- Show proof you live in Singapore (utility bill or rental agreement)
- Banks need much higher income than licensed money lenders
Common Questions
Can foreigners get bank loans in Singapore? Yes, but you need higher income and stricter requirements.
How can a foreigner get a loan? Use licensed banks or money lenders from the official MinLaw list. Meet all requirements and apply online or in person.
Can non-citizens apply for loans? Yes, non-citizens with valid work passes can apply for loans from licensed providers.
