Asked on 04 Jun 2019
1) Income proof (so a few months of income that they are assured of your ability to repay loan)
2) Residential Proof that you are living long term in Singapore
3) Letter from your company on your position and salary (on capability to repay in long term)
usually if you have the 3 above, you are good.
Licensed money lender in my opinion is just loanshark with a better name.
Usually for foreigners you can still take out a loan/credit card; just that they would have higher income requirements for you. I do not think a guarantor is necessary; but please provide the necessary documentations.
4 more comments
Not necessarily. Most of the time, foreigners will need to will need to meet a higher income requirement or show proof of legal residence in Singapore. However, they may need to apply with a guarantor if they do not have a credit score.