Foreigner Loan

Foreigner Loan

If you are a foreigner working in Singapore, chances are you may face some financial difficulties too, just like every other citizen of the country.  However, your case is a bit different: while the citizens have friends and family to approach for financial assistance, you probably don’t have such privilege. Does that mean there is no way out? Far from it!

If you find yourself in such a distressing situation, Advance Planners Credit is there to offer you a lifeline, take advantage of the country’s Foreigner Loan to attend to that biting financial problem.

As a foreigner who needs a loan, you must meet some conditions as a proof of your eligibility for the loan.

The requirements for Foreigner Loan

The conditions you must satisfy to be eligible for the loan are:

You must have a valid passport as a proof of your legitimate residency.

Your work permit must be valid too.

Your payslip for the past three months must be presented.

Don’t forget to include your letter of employment: it is a proof of your employment status.

Your tenancy agreement that serves as the proof of your residence should be included with your application.

You also need to present your bank statement. This is also as a proof of your salary. Without meeting the minimum annual income, your eligibility is under question.

There is also an age limit: you must be above 18 years and shouldn’t be above 65 years old.

These are just the criteria for foreigners who urgently need to take care of one or two financial obligations without the means to do so. If you are qualified for the loan, it is readily available for you at any time.

There are some accrued benefits from taking a Foreigner Loan as discussed below.

Benefits of taking a Foreigner Loan

A couple of the benefits of this loan type are:

Unsecured loan: The foreigner loans are 100% unsecured. This means that you will find it very easy to get the appropriate financing as an expatriate working in Singapore.

Flexible repayment: You unique need and repayment ability are considered when planning your repayment. This makes the repayment very easy since you are not expected to repay beyond your financial capacity.

Easy application: Applying for the loan is also very easy. You first need to read the basic requirements whether you can meet them or not. If you meet them, just approach the company and you can easily get the loan for your urgent needs.

Lower interest rates: A foreigner loan is designed to ease your financial needs and not to pile more pressure on you. In view of this, when you take our Foreigner loan, the interest rate is low enough to make repayment easy for you.

Rather than giving up under the pressure of financial pressure, take a Foreigner loan to keep your finances under control. This will keep you in absolute control of your life and work.