Loan for expatriates
Foreigner Loan : Key Considerations Before Applying
Personal loan are the fastest way to obtain that extra money that you need when you are in a foreign country, but there are many things you will want to consider before making the decision of applying for a loan in Singapore.
You do not require collateral but, on the other hand and due to the higher risk involved for the moneylender, the interest rates are higher, the loan amounts smaller and the repayment period length shorter. This is due to the fact that there is no asset guaranteeing the loan.
Make sure that your need for cash is critical; otherwise consider trying to save money so you do not need to apply for large amounts. Maybe you could even save enough to request only a small loan.
Do not hesitate to ask questions, our customer service officer are prepared to answer all kind of questions regarding your loan and you need to be informed before making a conscious decision.
Tips : Borrowing Wisely
You should not apply for a loan amount higher than your financial needs, even if your income would allow higher sums, make sure the loan amount is small enough so the monthly payments will not leave you without extra cash by the end of the month.
