A loan for foreigners in Singapore
If you’re working in Singapore on a valid pass, a foreigner loan from a licensed moneylender gives you access to credit on clear, regulated terms. All nationalities are welcome, subject to eligibility and the caps set by the Ministry of Law. Every licensed moneylender operates under the Moneylenders Act, which means the same legal limits on interest and fees protect you regardless of where you borrow — and regardless of your nationality.
Many banks set minimum-income or residency requirements that work-pass holders can’t easily meet. Licensed moneylenders assess your actual circumstances — your income, employment and existing commitments — and can only lend within the limits the law sets for your income level.
We explain every term in a language you understand and hand you a copy of your contract, as the law requires.
Who can apply
Foreigners residing in Singapore on a valid pass are typically eligible, subject to assessment:
- Work Permit holders
- S Pass holders
- Employment Pass holders
- Long-Term Visit Pass holders
- At least 21 years old and employed in Singapore, with proof of local residence
Tourists and temporary visitors are not eligible. Every application is individually assessed — no licensed moneylender can guarantee approval.
What you get
All nationalities
Open to foreigners on any valid Singapore work pass.
Regulated & clear
Terms governed by the Moneylenders Act — no hidden charges.
Fast response
A loan officer contacts you within 1 hour on working days.
How much foreigners can borrow
The Ministry of Law caps the total unsecured amount anyone may borrow across all licensed moneylenders combined, based on annual income. For foreigners residing in Singapore, the caps are:
Annual income under $10,000
Borrow up to $500 in total.
Annual income $10,000 to under $20,000
Borrow up to $3,000 in total.
Annual income $20,000 and above
Borrow up to 6 times your monthly income in total.
These caps exist to protect you from over-borrowing, and they are identical at every licensed moneylender in Singapore — no legitimate lender can offer you more. Because the limit applies across all licensed moneylenders combined, any amount you already owe elsewhere counts towards it.
What it costs
The law caps every charge a licensed moneylender can impose. At Advance Cash Credit — and at every licensed moneylender — the maximums are:
- Interest: up to 4% per month, calculated on the reducing balance — you pay interest only on what you still owe, not the original amount
- Approval fee: a one-time fee of up to 10% of the principal when the loan is granted
- Late interest: up to 4% per month, charged only on the amount that is overdue — never on the whole loan
- Late fee: up to $60 per month of late repayment
A built-in ceiling
By law, the total of all interest, late interest and fees on a loan can never exceed the principal you borrowed. If you take a $1,000 loan, the charges on it can never add up to more than $1,000 — no matter what happens.
Ask for the repayment schedule in writing before you sign, and make sure the monthly instalment fits your budget after rent, remittances and daily expenses.
Documents that help
Identity: your passport and your valid pass (Work Permit, S Pass, Employment Pass or Long-Term Visit Pass).
Employment & income: recent payslips, bank statements showing your salary credits, or an employment letter or contract.
Residence: a tenancy agreement, utility bill or phone bill showing your Singapore address.
Please do not send your FIN or copies of your documents through this website — bring them to your in-person appointment instead. A licensed moneylender will never ask for your Singpass login details, and is not allowed to retain your passport or work pass. Anyone who asks otherwise is not operating lawfully.
How applying works
- Submit the online form or call us — a loan officer responds within 1 hour on working days
- Discuss the amount and terms; ask any questions before deciding
- Visit our office at 304 Orchard Road, #04-12/13 Lucky Plaza to complete the loan — by law, loans cannot be finalised over the phone, by SMS or by email
- We run a mandatory credit check with the Moneylenders Credit Bureau (MLCB) before any loan is granted
- If approved and you accept the terms, sign the contract, receive your copy, and collect your funds — usually about 30 minutes after signing
Avoid unlicensed lenders — your pass depends on it
Borrowing from an unlicensed moneylender is dangerous for anyone, but for a foreigner the stakes are higher: involvement with unlicensed lenders can jeopardise your work pass and your ability to remain in Singapore, and unlicensed lenders routinely ignore the legal caps on interest and fees. Before borrowing from any lender — including us — verify their licence on the Ministry of Law’s list of licensed moneylenders. Advance Cash Credit is listed there under Licence No. 79/2026. Genuine licensed moneylenders never advertise through SMS, WhatsApp or social media — if you received a loan offer that way, it did not come from a licensed lender.
Related guides
Foreigner loan eligibility in Singapore
Which passes qualify, what lenders assess, and how the income-based caps apply to you.
How to check a moneylender is licensed
A step-by-step guide to verifying any lender against the official Ministry of Law list.
Documents needed for a moneylender loan
The full checklist of what to bring to your appointment — and what no lender should ever ask for.
Ready to apply for your Foreigner Loan?
Speak with a loan officer for honest, no-obligation advice, or apply online now.