Licensed Money Lender Personal Loan Bukit Merah
Bukit Merah is a town that’s located in the southernmost portion of Singapore’s Central Region. It is a Malay phrase that means “red hill”, referring to the red soil of the hills in the area.
Its most popular tourist spots include Telok Blangah Hill Park and Mount Faber Park. Of course, the Henderson Waves are also worth mentioning, since it’s the architectural wonder that bridges the two parks.
If you ever need cash assistance as a foreigner in Singapore, this post will help you understand one of your options: a foreigner loan.
What is a Foreigner Loan and how does it work?
As the name suggests, a foreigner loan is a personal loan that is offered specifically to foreigners and expats. It allows them to have immediate cash during their settling in period or for emergency situations.
With Raffles Credit, foreigners can take loans of any amount if they opt for secured loans. For unsecured loans, here are the maximum loan amounts based on annual income:
- Less than $10,000: $500
- Above $10,000 but less than $20,000: $3,000
- Above $20,000: Up to 6x of your monthly income
Advantages of taking Foreigner Loan with money lender
- Simple requirements: The necessary documents for foreigner loans aren’t something that you don’t have. Also, moneylenders don’t require extensive credit checks for granting loans. This is a good thing for tourists or for foreigners who haven’t lived in Singapore long enough.
- Quick application process: Foreigner loans are typically approved within 30 minutes of application and submission of requirements.
- Low interests and processing fees: If you’re taking a loan, the last thing you want is to deal with more payments than you have to. Fortunately, moneylenders can only charge 1-4% interest rate for foreigner loans. Late fees cannot exceed $60 per month for late repayments, and processing fees cannot exceed 10% of the principal loan amount.
How to apply?
The foreigner loan application process is quick and easy. Here’s all you need to do:
- Gather the requirements: Prepare the documents that you need to pass.
- Contact moneylender: Call the moneylender or apply for the loan online.
- Go to the moneylender’s office: Once your application has been received, you’ll be asked to come to the moneylender’s office to customize your loan plan.
- Get your cash: If the terms and conditions look good to you, you can sign the agreement and get your cash right away.
How can Raffles Credit help you?
Raffles Credit is recognized by Top Brands as one of the top-performing licensed moneylenders in Singapore.
We are a company that’s known for its exceptional service to all types of borrowers, whether they’re local or foreign. Indeed, this is how we continue to gain our clients’ trust.
Foreigners in Singapore don’t have to worry about financial issues, thanks to moneylenders like Raffles Credit.
As we strive to be the Best Licensed Money Lender in Singapore, you can always expect us to help you in the exact way that you need.
Contact us at 6235 1988 or [email protected] to apply for a foreigner loan today.
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