Singapore is considered one of the great destinations for various cultures. Many foreigners from different locations across the globe come here to travel, work or reside.
On the other hand, there are several banks and private financial institutions here in Singapore who offer foreigner loans as financial aids to those foreigners who currently work and reside in SG. However, there are several requirements needed to be submitted to process and grant such loan application.
• Proof of Employment and Residency
• Proof of Payment
• Valid Identifications
More so, lenders will perform background investigations and extensive credit check on the borrower. This is to ensure that the latter has the capability to repay the loan completely. Thus, repayment packages and other conditions vary, depending on the bank or financial institution that would lend the money.
Lastly, the turn-around time for the loan application approval could happen within just a few hours, or within a few days, depending on the procedures that will be conducted by the lender. For quick cash needs, it would be better to check first if the lender offers fast loan releases.