The Criterion of the Best Foreigner Loan in Singapore

foreigner loan Singapore

If you are a foreigner in need of a financial loan in Singapore, you might find it very difficult to acquire one from banks. Banks often consider foreigners as high-risk individuals since they are not sure if foreigners will simply leave the country with unpaid debt. However, thanks to companies such as Credit Excel and other registered money lenders, it is now easier for foreigners to get a loan.

Here are four criteria for the best foreigner loan in Singapore

  • Does Not Consider Credit History

You might be just starting out in your new life in Singapore and need a loan to tide you over until your next payday. If you do not have any credit history, you might not get a loan at all. This is why you need to choose a company that will not consider your credit history. Instead, you should choose a company that evaluates you on your terms of employment and your ability to pay.

  • No Discrimination

It is important to choose a company that does not discriminate against one’s nationality. As companies might base a loan based on your nationality instead of the ability to pay.

  • Reasonable Interest Rates and Flexible Payment Plans

When looking for the best foreigner loan, one must consider the interest rates and payment plans. You do not want to end up with a huge unpayable debt in a foreign country! Interest rates should not add pressure on you but rather help your financial needs.

  • Provides Financial Advice and Different Services

Another important factor in choosing the best foreigner loan is selecting a company that provides financial advice and a doable financial plan. This way you can easily get out of debt.

Use this four criterion as a guide to help you find the best loan plan for you. Make sure that the company you are borrowing from has an easy process, good rates, and good financial advice.


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