For EP, S Pass and Work Permit Holders
Working in Singapore doesn't always mean banks will lend to you, many require a high income threshold that rules out most work pass holders and expats. BST Credit accepts applications from EP, S Pass and Work Permit holders, as a licensed moneylender offering fair, transparent terms.
Apply for a Foreigner Loan
Loan Purposes
Whether it's settling into Singapore as a new expat or managing an unexpected cost, a foreigner loan can help with a wide range of needs.
Cover rental deposits, furnishing, or other upfront costs of getting settled when you first arrive.
Handle unexpected medical bills or emergencies without waiting on funds from home.
Manage remittances or family commitments back home alongside your expenses in Singapore.
Funds are disbursed directly to you, so you're free to use them for whatever your situation calls for.
Accessible across all three work pass types:
Many banks in Singapore only extend personal loans to Employment Pass holders earning above a set income threshold, often $40,000 to $60,000 a year, which leaves most S Pass and Work Permit holders without a bank option at all.
As a licensed moneylender, BST Credit considers applications from all three work pass types. Your loan amount and terms follow the same Ministry of Law limits as any personal loan, based on your income and residency status, so what you can borrow will reflect your individual circumstances.
The maximum you may borrow at any time, across all licensed moneylenders in Singapore combined, depends on your annual income and residency status, as shown below.
Not sure what your monthly repayments might look like? Try our Loan Calculator to get an estimate before you apply.
| Annual Income | Singapore Citizen and Permanent Resident | Foreigners Residing in Singapore |
|---|---|---|
| Less than $10,000 | $3,000 | $500 |
| $10,000 but less than $20,000 | $3,000 | $3,000 |
| $20,000 and above | 6 times the monthly income | 6 times the monthly income |
These limits apply specifically to unsecured cash loans in Singapore. Here’s what borrowers should keep in mind:
As a licensed moneylender, we are bound by strict limits set by the Ministry of Law. Here is what applies to your loan, regardless of nationality:
If you’re new to Singapore, it’s worth taking a moment to understand your full financial picture, including any commitments back home, before deciding how much to borrow. Borrow only what you need, and make sure your repayment plan fits comfortably alongside your income here. Our responsible borrowing checklist is a useful starting point before you apply.
Prepare Your Documents
Submit the necessary documents to verify your information, or apply with Singpass to have your particulars retrieved directly and skip manual uploads.
Are 21 years old or above
Singapore Citizen, PR, or valid Work Pass holder (EP, S Pass, WP)
Steady income, whether full-time, part-time or self-employed
NRIC (for Singaporeans/PRs) or Passport and Work Pass (for foreigners)
1. Last 3 months’ payslips
2. CPF contribution history
3. Income Tax Notice of Assessment
4. Bank statement showing salary crediting
1. Latest utility bill (within 3 months)
2. Tenancy agreement
3. Official letters sent to your home address
Loan Benefits
Accessible financing that doesn't rule you out for holding a Work Permit or S Pass.
EP, S Pass and Work Permit holders are all welcome to apply, unlike many banks that only consider EP holders.
Every rate and fee is disclosed upfront and capped within Ministry of Law limits, so you always know what you're agreeing to.
A more accessible alternative to a bank's lengthy requirements, suited to your situation as a foreigner in Singapore.
Real people and real guidance, from your first question through to your final repayment.
Loan Application Process
Apply online first, receive a verification call, visit our licensed office to review and sign the
loan contract, then receive your funds after approval.
Submit your loan application online with your basic details and preferred loan amount.
Our team will contact you to verify your details, understand your loan needs and guide you on the next step.
Visit our licensed office for in-person verification. The loan amount, repayment schedule, interest and fees will be explained before you sign.
Once your loan is approved and the contract is signed, the approved loan amount will be disbursed to you.
What Borrowers Say
See why borrowers trust BST Credit for clear loan terms, helpful service and a smooth application process.
FAQ
Answers to common questions about borrowing as a foreigner in Singapore.
Yes. As a licensed moneylender, BST Credit accepts applications from EP, S Pass and Work Permit holders, whether you’re an expat professional or a work permit holder. This is different from most banks, which typically only extend personal loans to Employment Pass holders meeting a set income threshold.
The maximum you can borrow depends on your annual income, and this limit applies across all licensed moneylenders in Singapore combined, not per lender. Foreigners are subject to a lower cap than Singapore Citizens and PRs at the same income level, this is a Ministry of Law rule, not a lender’s own policy.
Licensed moneylenders in Singapore are regulated by the Ministry of Law to keep borrowing fair and transparent, for every applicant regardless of nationality.
You’ll need your Passport and a valid Work Pass (EP, S Pass or Work Permit), one form of income proof, such as your latest payslips, and one form of residence proof, such as a recent utility bill or tenancy agreement.
To apply for a foreigner loan with BST Credit, you should be 21 years old or above, hold a valid Employment Pass, S Pass or Work Permit, and have a steady income.
You can check the official Registry of Moneylenders maintained by the Ministry of Law. Always apply only through official websites or verified contact channels to avoid unlicensed lenders. Read our full guide on how to check if a moneylender is licensed for a step-by-step walkthrough.
The Registry of Moneylenders cannot negotiate with lenders on your behalf, as this is a matter of private contract. If you’re facing financial difficulties, you may wish to approach a social service agency for credit counselling and help negotiating a repayment plan, such as Credit Counselling Singapore (6225 5227), which handles cases that also involve bank debts.
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Submit your details and we'll help match you with the right loan option.
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