Foreigner Loan

Foreigner loans are personal loans designed for foreigners working and living in Singapore. They are able to borrow money for emergencies. 

While in Singapore, foreigners will need enough funds for rental, food, mobile network and still require to send money back home to their families. 

Foreigner loans help lift the burdens off their shoulders. 

There are no restrictions on the usage of foreigner loans. Borrowers have the freedom and flexibility with the money. 

A foreigner loan will come in handy if you are currently short on money. 

If you need money to pay your bills, rent, or send money to your family, this loan can help. 

A foreigner loan application only takes several minutes and will be processed within 24 hours. 

Credit score is a number used by moneylenders to evaluate how likely an individual will repay his debts and the probability of defaulting on loans. 

It calculates the amount of risks moneylenders face when they lend individuals a loan.

In essence, it is a four-digit number developed from an individual’s previous payments and loan history. 

The score ranges from 1000 to 2000, along with a risk grade from AA – HH.  

Those with a lower score of 1000 (HH) means that they may have a higher chance of defaulting on a loan. 

Those with a higher score of 2000 (AA) means that they will have a lower chance of defaulting on a loan. 

Along with each score, a risk grade and percentage description will be given. The higher the credit score, the easier it is to get a loan.

When applying for a loan, the financial institution will not only look at your credit score, but also at your salary, employment term and bankruptcy information.

If you are able to make punctual loan repayments, your credit score will improve. 

With a good repayment record, it increases your credit score and makes it easier for you to secure a loan in the future. A good credit score may help you obtain lower interest rates as well.

To qualify for a foreigner loan with Lending Bee®, you’ll simply have to:

• Be a Permanent Resident or a Foreigner with a valid work permit
• Be at least 21 years old
• Be employed / self-employed

• Work Permit / S Pass / E Pass
• Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
• Payslips / bank statements

At Lending Bee®, all applications for our foreigner loan is kept fast and simple. 

• Step 1: Submit your application via our online application form.
• Step 2: We will drop you a call regarding your loan application status within the hour.
• Step 3: Head down to your selected Lending Bee® branch, sign the contract and receive your loan.

We will disburse the funds to you immediately after you have accepted and signed our loan contract at any of our branches. 

Yes, you can still apply for a foreigner loan with us. We aim to help our borrowers regardless of their credit scores. 

This is why we do not have specific restrictions with regard to credit scores.

No, we do not charge any fees for early loan repayments. 

Outstanding interests, if any, will also be nullified once you have finished repaying your loan earlier than the date stipulated in your loan contract.

No, we do not mail any of your loan information to your home. 

All loan details will be kept digital, and private with us, unless a physical copy is requested.