Licensed Money Lender Personal Loan Bugis
Bugis pertains to the general area in Singapore that surrounds Bugis Street. Bugis Street that most people know of today, which is formerly Albert Street, is recognized as the largest street-shopping area in the whole country.
Aside from visiting the world-renowned Bugis Street Market, you can also check out nearby attractions like the National Library, National Gallery Singapore, and Esplanade Park.
Should your funds come up short while touring Bugis as a foreigner, fret not. You can simply apply for a foreigner loan with a licensed moneylender nearby.
What is a foreigner loan?
As the name implies, a foreigner loan is a loan that is especially intended for foreigners who are currently residing in Singapore. Here are the loan amounts that you can borrow from Raffles Credit:
- Annual income of less than SGD 10,000: Up to $500
- Annual income of more than SGD 10,000 but less than SGD 20,000: Up to $3,000
- Annual income above SGD 20,000: Up to 6x your monthly salary
Advantages of taking a foreigner loan with money lenders
- Simple requirements: Banks may be able to grant higher loan amounts, but they usually have higher requirements. For instance, they may only approve borrowers with good credit scores. With moneylenders, you only need a few basic documents, and you can still get a loan even with low credit.
- Fast approvals and processing times: You can expect your application to be approved within an hour of submission. You may even be able to get your money on the same day if everything fits with your schedule.
- Manageable interest rates: Licensed moneylenders can only charge a maximum of 4% monthly interest for foreigner loans.
- Flexible repayment plans: Before you sign the contract, moneylenders will make sure that they come up with a repayment plan that you can realistically follow.
How to apply?
To be eligible for a foreigner loan, you must meet the following criteria:
- At least 21 years old
- At least SGD 2,000 monthly salary
Once you’ve confirmed your eligibility, here are the requirements that you need to prepare:
- Employment pass / S Pass / work permit
- Proof of employment
- 3 latest payslips
- Proof of residence
- Latest bank statement
Finally, you can proceed with the application by following these steps:
- Apply from anywhere: Fill out our online form or call us to start your loan application.
- Come to our office: Upon receiving your application, we will schedule an in-person appointment with you at our office so we can finalize your loan plan.
- Get your foreigner loan amount: If the contract’s terms look great, you can get your loan amount soon after you sign the agreement.
How can Raffles Credit help you?
Having been in the business for ten years now, we’ve witnessed how difficult it can be for our clients to suddenly run into a financial hump.
Since then, it has been our mission to provide the best moneylending services. Every day, we make sure that all of our borrowers — whether they’re a local or a foreigner — get the loan plan that helps them break the debt cycle for good.
Contact us at 6235 1788 or [email protected] to know about our foreigner loan plans.
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