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Need a loan whilst living in Singapore? If you’re a foreigner or expat working locally and require fast, legitimate financial support, 118 Credit offers licensed personal loans for foreigners with clear terms and a straightforward application process.
We specialise in loans for foreigners in Singapore who may not qualify under traditional banking requirements, providing short-term financial solutions that are legal, transparent, and responsibly assessed.
Maximum loan amount:
Up to 6 times of monthly income*
Repayment period:
Up to 15 months*
Interest rate:
As low as 12% p.a.*
*Actual rate offered to you may differ. Subject to eligibility assessment.
Loan amounts and repayment terms for foreigners in Singapore are regulated under local lending laws and assessed based on your income and employment profile.
At 118 Credit:
– Loan eligibility is assessed responsibly based on income level and affordability
– Repayment structures are discussed clearly before any commitment
– Loan tenure is structured to support manageable monthly repayments
Our team will explain the maximum allowable loan amount, repayment schedule, and total cost clearly during your in-person assessment, so you can make an informed decision before proceeding.
Foreigners in Singapore may come across both personal loans and home loans, but these financing options serve very different purposes.
Home loans for foreigners are property-specific facilities typically offered by banks or financial institutions. They are tied to residential or commercial property purchases and are subject to separate eligibility requirements, long-term commitments, and property-related conditions.
In contrast, personal loans are unsecured loans designed for short- to mid-term personal financing needs and are assessed based on employment status, income, and repayment capability rather than property ownership.
If you’re looking for a personal loan as a foreigner in Singapore, speak with 118 Credit to explore your options with a licensed lender.
Our team will guide you through the process, explain all terms clearly, and help you decide on a loan structure that fits your financial situation.
Foreign professionals and work pass holders who are legally employed in Singapore and require structured financing without collateral may apply, subject to meeting standard lending criteria.
Applicants must be currently working in Singapore under a valid employment arrangement with a recognised employer.
You should possess a valid Work Permit, S Pass, or Employment Pass at the time of application.
This loan is suitable for foreigners seeking short to mid-term financial support to manage planned or urgent expenses.
Applicants who value predictable, structured monthly instalments may find this option suitable for budgeting purposes.
This financing option does not require asset-backed security, making it accessible without pledging collateral.
Applying for a foreign loan online is simple, fast, and structured to ensure borrowers fully understand their loan terms before acceptance.
Complete our online application form with your basic details. The process is quick and straightforward, allowing us to understand your loan requirements before proceeding.
Our loan consultant will contact you to explain the next steps, confirm eligibility requirements, and arrange an in-person appointment at our office.
Bring the required documents to your appointment, including:
– Passport
– Valid work pass
– Latest 3 months’ payslips
– Proof of residential address
These documents help us assess your application responsibly and transparently.
During your visit, we will review your documents, clearly explain the loan terms, and discuss a repayment structure suited to your financial situation.
Once you are comfortable with the terms and the agreement is signed, loan disbursement will proceed in accordance with the agreed conditions.
You should always look for a licensed moneylender as they are regulated by the Ministry of Law.
Here at 118 Credit, we are committed to trust and integrity, and are also legal and licensed lenders. Taking a loan should help not hinder you. If the lender tries to convince you to borrow a very large sum of money, do not take a loan with them
Once you understand exactly what the loan is for, you can decide how much you need, how long you will take to pay back the loan money, and the package that suits you.
You should also be careful that this money should only be used for your most urgent issues, do not take the foreigner loan as fast cash.
Chances are, if you have too much on hand, you’ll be tempted to spend the extra money on things that are unnecessary. This will harm your finances because you’ll have a much higher sum to repay.
So… only borrow what you need and what you can repay!
Here are some of our Frequently Asked Questions that we get from most of our clients. Do take some time browsing through and we hope you may find the answers you are looking for!
The approved loan amount depends on your declared income, existing financial commitments, and the lending guidelines set by a licensed moneylender. Your eligibility will be assessed during the application process to determine a suitable borrowing limit.
Most foreigner loans are unsecured, which means you do not need to provide collateral. Approval is typically based on your employment status and ability to meet repayment obligations.
You can begin by submitting an application online or in person with the required documents, such as your work pass and proof of income. After verification, the lender will review your eligibility and explain the loan terms clearly before disbursement.
Depending on eligibility, foreigners may also explore other financing options, such as a renovation loan in Singapore. For personalised guidance on suitable loan types, contact us to speak with our team directly.
We offer a range of different loan types based on your needs. It doesn’t matter if you have a bad credit history, or low-income, the best money lender for you is 118 Credit!
