Best Personal Loans For Foreigners In Singapore 2025
Updated: 2 Jul 2025
Loan | Monthly Repayment | SingSaver Reward | Annual Interest Rate | Total Cost of Loan | EIR | |||
|---|---|---|---|---|---|---|---|---|
 | UOB Personal Loan | S$293 | S$180 | 1.85 % | S$555 | 3.40 % p.a. | ||
 | Citi Quick Cash - Existing Loan Customers | S$316 | - | 4.55 % | S$1,365 | 8.50 % p.a. | ||
 | Standard Chartered CashOne Personal Loan | S$294 | S$180 | 1.90 % | S$570 | 3.63 % p.a. | ||
 | HSBC Personal Loan | S$296 | S$130 | 2.20 % | S$660 | 4.00 % p.a. | ||
 | DBS Personal Loan | S$294 | - | 1.99 % | S$597 | 4.43 % p.a. | ||
 | POSB Personal Loan | S$294 | - | 1.99 % | S$597 | 4.43 % p.a. | ||
 | Citi Quick Cash Program with Ready Credit | S$307 | - | 3.45 % | S$1,035 | 6.50 % p.a. |
- Enjoy interest rates as low as 1.85% p.a (EIR from 3.40% p.a.)
- No processing fees
- Get instant approval and cash disbursed into your UOB accounts for applications submitted between 8am and 9pm
- Min. loan amount of S$1,000
- Min. income for Singaporeans/PRs: S$30,000 p.a.
- Read our full review of the UOB Personal Loan
- Foreigners are not eligible for UOB Personal Loan
- Cancellation fee: S$150 or 3% of outstanding approved loan amount, whichever is higher
- NRIC (Front & Back)
- For salaried employees: Last 3 months’ computerised payslip; or Latest Income Tax Notice of Assessment with latest 1 month’s computerised payslip; or latest 6 months’ CPF statement (for Singaporeans or PRs)
- For self-employed persons: Last 2 years’ Income Tax Notice of Assessment
The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.
Citi Quick Cash - Existing Loan Customers
- Instant processing within 60 seconds upon verification of loan application
- No processing fees
- Borrow up to 4x your monthly salary at S$0 processing fee, for a min. loan amount of S$1,000
- Convert unutilised credit limit to cash deposited in your Citi deposits account in under a minute
- Min. income for Singaporeans/PRs: S$30,000 p.a. Min. income for foreigners: S$42,000 p.a.
- Read our full review of the Citibank Quick Cash Loan
- Instant loan disbursement available only for Citi deposit accounts displayed in the 'funds disbursement option' field
- Cancellation fee: 3% of outstanding unbilled principal amount or S$100, whichever is higher
- If min. payment amount is overdue for two consecutive months, the loan will be terminated and the total outstanding amount will be billed
1. NRIC (Front & Back)
2. Salaried employees: Past 12 months CPF statement (Singaporean/PR)
3. Income Tax Notice of Assessment and latest original computerised payslip
4. Self-employed individuals: Latest Income Tax Notice of Assessment and latest original computerised payslip
- Enjoy interest rates from as low as 1.9% p.a. (EIR: 3.63% p.a.) for longer tenures. Get instant loan approval and cash disbursement in as quick as 15 minutes to your designated bank account.
- Enjoy a 5-year annual fee waiver on your Standard Chartered Platinum Visa credit card
- Min. loan amount of S$1,000
- Max. loan amount of up to 4X monthly salary, capped at S$250,000
- Waiver of S$50 annual fee (from 2nd year till expiry of loan) if all instalments for the year are paid on or before the due dateMax. loan amount of up to 4X monthly salary, capped at S$250,000
- Read our full review of the Standard Chartered CashOne Personal Loan
- First year annual fee: S$199
- Early repayment fee: S$150 or 3% of the outstanding principal, whichever is higher
- Change of tenure: S$50 per change
- Late payment fee: S$100
- Copy of Passport (with at least 6 months' validity), including the page with address displayed (where applicable)
- Copy of your Employment Pass
- Any ONE of the following documents:
- Latest utility bill, rates or tax bill
- Latest bank / credit card statement (e-Statements are accepted)
- Rental agreement showing your address
- Latest mobile phone statement or pay-TV statement
- Letter from employer stating current address
- Government-issued document stating current address (e.g. IRAS, CPF, ICA)
For SingPass holders applying with MyInfo, please prepare the following:
The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.
- One of the lowest interest rates from 1.99% p.a (EIR 3.8% p.a) for those earning min. S$30,000 annually.
- No processing fees
- Instant disbursement upon approval to an HSBC bank account
- Get a 1-minute in-principle approval on your HSBC Personal Loan
- Max. loan amount equal to 90/95% of approved credit limit at time of application
- Min. loan amount of S$1,000
- Option to borrow at a slightly longer loan tenure of 7 years
- Early repayment fee: 2.5% of the repayment amount
- Overdue interest: 2.5% + prevailing interest on overdue amount
- Late payment fee: S$75 for each monthly repayment that is not received in full by the monthly due date
1. NRIC (Front & Back)
2. For salaried employees: Last 3 months’ computerised payslip, or latest Income Tax Notice of Assessment with latest 1 month’s computerised payslip, or latest 6 months’ CPF statement (for Singaporeans or PRs)
3. For self-employed persons: Last 2 years’ Income Tax Notice of Assessment
The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.
- Enjoy personalised rates from as low as 1.99% p.a. (EIR 4.17% p.a.)
- Borrow up to 4x your monthly salary if you earn less than S$120,000 annually, or up to 10x if you earn more than S$120,000 annually
- Min. loan amount of S$500
- Tenure: 6 months to 5 years
- Min. income for Singaporeans/PRs: S$20,000 p.a.
- Apply via SingSaver and get your loan approved and disbursed instantly into your DBS/POSB account
- 1.99% p.a. loan rates only applicable for loan tenure of 36 months and above. Also for selected customers only.
- Processing fee: From 1% of the approved loan amount
- Early repayment fee: S$250
- Late payment fee: S$100 for personal loan on DBS/POSB credit card, S$120 for personal loan on DBS/POSB Cashline
1. NRIC (Front & Back)
2. CPF contribution history statement (latest 12 months)
3. Latest 1 year Income Tax Notice of Assessment (NOA)
4. Latest computerised payslip or salary crediting into a DBS/POSB account
- Enjoy personalised rates from as low as 1.99% p.a. (EIR 4.17% p.a.)
- Borrow up to 4x your monthly salary if you earn less than S$120,000 annually, or up to 10x if you earn more than S$120,000 annually
- Min. loan amount of S$500
- Tenure: 6 months to 5 years
- Min. income for Singaporeans/PRs: S$20,000 p.a.
- Apply via SingSaver and get your loan approved and disbursed instantly into your DBS/POSB account
- Processing fee: From 1% of the approved loan amount
- Early repayment fee: S$250
- Late payment fee: S$100 for personal loan on DBS/POSB credit card, S$120 for personal loan on DBS/POSB Cashline
1. NRIC (Front & Back)
2. Salaried employees: Latest 9 months’ CPF contribution history statement OR latest 1 year Income Tax Notice of Assessment or latest computerised payslip or salary crediting into DBS/POSB account
3. Self-employed individuals: Latest 1 year Income Tax Notice of Assessment
- Flexible line of credit up to 4X your monthly income or up to 8X your monthly income if your annual income is S$120,000 and above. (Subject to Citibank's approval)
- Enjoy an interest rate from as low as 3.45% p.a. (EIR 6.50% p.a.) by converting your available credit limit to a loan with Citi Quick Cash on Ready Credit. Terms and Conditions apply. EIR 6.50% p.a. is applicable to new Citibank Ready Credit customers only.
- No processing fees
- Minimum loan of S$1,000
- Tenure: 1 year to 5 years
- Annual fee: S$120 (First year free) on Citibank Ready Credit
- Late Payment charge: S$120*
- Overlimit fee: S$40*
1. A copy of your NRIC (front & back) or work permit (with minimum 6 months validity)
2. A copy of your utility bill, telephone bill, or bank statement with your name and address
3. Income Tax Notice of Assessment
4. Latest original computerised payslip
The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.
Eligibility requirements and documents for foreigners to apply for a personal loan
To be eligible for a personal loan as a foreigner in Singapore, you typically need to meet the following criteria:
Minimum age |
Annual income |
Valid employment pass or work permit |
Supporting documents |
|
You should be between the ages of 21 and 70 years old to be eligible for a personal loan. |
For foreigners, banks typically require you to have annual incomes ranging from S$40,000 to S$60,000 as an income criterion to be eligible for a personal loan. |
You'll also need a valid Employment Pass or Work Permit with a validity period of at least 6 months from loan approval and at least 1 year from the loan disbursement date. |
For foreigners, you need a copy of your passport, Employment Pass, Work Permit, residential address, employment letter, and proof of income (computerised payslips). |
What are foreigner loans and how do they work?
Foreigner loans are personal loans tailored for non-citizens working or living in Singapore. These are designed to help expats and work pass holders access extra funds for various needs, whether it’s settling rental deposits, managing unexpected expenses, or sending money home.
The way they work is fairly straightforward. Once your application is approved, the lender disburses a lump sum to your bank account. You’ll then repay this amount over time through fixed monthly instalments, which include both the principal and interest.
Unlike personal loans for Singaporeans or PRs, interest rates for foreigner loans tend to be slightly higher. This is because lenders factor in the additional risk tied to work pass validity and the potential for relocation.
Frequently asked questions about personal loans for foreigners in Singapore
-
Paying rental deposits or initial housing expenses
-
Covering moving and relocation costs
-
Funding education or professional courses
-
Handling unexpected emergencies or medical bills
-
Supporting family back home or travelling
Yes, they can, though with a few more requirements than locals. Most banks and licensed financial institutions in Singapore offer personal loans for foreigners. To qualify, you’ll usually need to hold a valid work pass (EP, S Pass, or Work Permit), meet the minimum income requirement (which is often higher than for Singaporeans), and show proof of stable employment and local residence.
The loan amount you’re eligible for depends on your income and the lender’s assessment of your ability to repay. As long as you meet the criteria, taking a personal loan as a foreigner is definitely possible.
There’s no fixed rule that limits the number of personal loans you can have, whether you're a Singaporean or a foreigner. However, that doesn’t mean taking on multiple loans is a good idea.
Lenders will assess your total debt obligations before approving new loans. If you already have outstanding loans or credit card debts, you might face challenges getting approved for another loan. Even if you’re approved, juggling several loans at once can strain your finances and affect your credit score.
As a general rule, stick to what you can comfortably repay each month without sacrificing your essential expenses or emergency savings.
Many major banks and licensed lenders in Singapore offer personal loans to foreigners.
Needless to say, the ones in this article all do, i.e. OCBC, DBS/POSB, UOB, HSBC, Standard Chartered, and Citibank.
Besides those, licensed moneylenders are another option to consider for faster approval, though interest rates can be much higher.
Do note that offers, eligibility, and interest rates may differ depending on your residency status and income level. It’s always worth comparing before applying.
Personal loans are generally very flexible, so you can use them for just about anything, unless stated otherwise in the terms. Some common reasons include:
Just remember that while it’s tempting to borrow for lifestyle expenses like shopping or holidays, it’s smarter to reserve loans for essential or productive purposes. This helps you avoid unnecessary debt and keeps your finances on track during your stay in Singapore.
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