Are you a foreigner in Singapore facing an unexpected expense or cash gap? Power Credit Enterprise is a Ministry of Law-licensed moneylender serving EP holders, S Pass holders, Work Permit holders, and LTVP holders since 2007. Apply via Singpass MyInfo in under 2 minutes. Visit our office near Tanjong Pagar MRT for same-day disbursement.
Our foreigner loan Singapore service is crafted to make borrowing simple, fast, and hassle-free, ensuring you get the help you need without unnecessary stress. Whether it’s for unexpected expenses, emergencies, or personal needs, Power Credit is here to guide you with flexible repayment options and transparent terms.
Foreigner loans are specialized financial products catered to non-Singaporeans living and working in Singapore. These loans are designed to help expatriates and foreign workers manage their financial needs, from settling into a new country to handling unexpected expenses.
Are you a foreigner in Singapore facing an unexpected expense or cash gap? Power Credit Enterprise is a Ministry of Law-licensed moneylender serving EP holders, S Pass holders, Work Permit holders, and LTVP holders since 2007. Apply via Singpass MyInfo in under 2 minutes. Visit our office near Tanjong Pagar MRT for same-day disbursement.
Foreigner loans are specialized financial products catered to non-Singaporeans living and working in Singapore. These loans are designed to help expatriates and foreign workers manage their financial needs, from settling into a new country to handling unexpected expenses.
| Feature | Power Credit | MinLaw Cap |
|---|---|---|
| Maximum interest rate | Up to 4% per month | 4% per month |
| Maximum late fee | SGD 60 per month | SGD 60 per month |
| Admin / processing fee | 10% of principal, one-time | 10% of principal |
| Max loan (income above SGD 20,000) | Up to 6x monthly income | Up to 6x monthly income |
| Max loan (income below SGD 10,000) | SGD 500 | SGD 500 |
| Loan tenure | 1 to 24 months | No fixed cap |
| Eligible pass types | EP, S Pass, Work Permit, LTVP | Valid work pass required |
| MinLaw Licence | 137/2025 | Verified |
Most banks require a minimum annual income of SGD 40,000 to lend to foreigners. Power Credit assesses your application based on your current income and repayment capacity. No CBS credit score required.
Submit your application online using Singpass MyInfo. Your identity and income details are retrieved automatically. Visit our office near Tanjong Pagar MRT for same-day disbursement upon signing.
Choose a repayment period that fits your budget. Loans can be structured from 1 month up to 24 months. No early repayment penalty, pay off ahead of schedule at no extra cost.
Our loan officers walk through every line of your contract before you sign. Principal, interest, admin fee, monthly repayment and total repayable amount. No surprises after the loan.
Cover your rental deposit, advance rental, or furniture costs when settling into a new home in Singapore.
Hospital expenses, urgent travel back home, or any unexpected cost that cannot wait.
Fees for courses, certifications or skills upgrading while working in Singapore that your employer does not cover.
Combine multiple outstanding balances into one manageable monthly repayment. See our debt consolidation loan page for details.
Finance personal projects or purchases to enhance your life in Singapore.
Borrowing from a licensed moneylender has no direct impact on your EP, S Pass or Work Permit status. MOM does not receive information about loans from licensed moneylenders. Repay on time and your pass is unaffected.
Foreigners are not charged higher interest rates. The same MinLaw fee caps apply to all borrowers regardless of nationality. Interest is capped at 4% per month. Admin fee capped at 10% of principal. Late fee capped at SGD 60 per month.
Once your loan agreement is signed at our office, funds are released the same day. Cash on the spot or bank transfer. Not same day approval but same day cash in hand.
Your loan obligations remain if you leave Singapore. Contact us before your departure to make arrangements. We can discuss continued repayment from abroad or early settlement options.
Your borrowing limit is set by MinLaw regulations based on your annual income. These limits apply to your total outstanding balance across all licensed moneylenders in Singapore. Not per lender.
| Pass type | Annual income | Maximum loan amount |
|---|---|---|
| EP / S Pass / Work Permit / LTVP | Below $10,000 | $500 |
| EP / S Pass / Work Permit / LTVP | $10,000 to $19,999 | $3,000 |
| EP / S Pass / Work Permit / LTVP | $20,000 and above | Up to 6x monthly income |
Note on LTVP holders
LTVP eligibility is subject to assessment on a case by case basis. Please visit our office or call us at +65 6443 2940 to discuss your specific situation before applying.
Source: Ministry of Law — Guide to borrowing from licensed moneylenders
Power Credit charges only the fees permitted under the Moneylenders Act 2008. There are no hidden charges.
| Fee type | Cap set by MinLaw | Power Credit's charge |
|---|---|---|
| Interest rate | 4% per month on outstanding balance (reducing) | Up to 4% per month |
| Late payment fee | SGD 60 per month | SGD 60 per month (only if payment is missed) |
| Admin / processing fee | 10% of principal, one-time | 10% of principal |
| Total charges | Cannot exceed principal amount | Capped as required |
Example: If you borrow SGD 3,000 over 6 months
These are indicative figures. Your actual loan offer is confirmed at the office during the in-person contract signing.
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Employment Pass (EP)
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S Pass
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Work Permit
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Long Term Visit Pass (LTVP)
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Documents to bring
No guarantor required
Foreigner loans from Power Credit are unsecured. You do not need to provide a guarantor or collateral to apply.
Yes. Foreigners holding a valid Employment Pass (EP), S Pass, Work Permit, or Long Term Visit Pass (LTVP) may apply for a foreigner loan from Power Credit. You must be aged 21 and above, have proof of income, and a valid Singapore residential address. Your CBS credit score is not checked. Power Credit uses the MLCB (Moneylenders Credit Bureau) which is a separate system from the bank credit bureau.
Bring the following to our office at 1 Tras Link #01-11, Orchid Hotel Singapore 078867:
EP and S Pass holders may also apply via Singpass MyInfo online in under 2 minutes, your details are retrieved automatically without manual form filling.
Repaying a foreigner loan in Singapore typically by the following steps:
Remember to: Keep records of your payment receipt and inform us when your payment is made.
No. Power Credit charges the same fee structure for all borrowers regardless of nationality. Interest is capped at 4% per month on the outstanding balance. Admin fee is capped at 10% of the principal, charged once. Late fee is capped at SGD 60 per month. These caps are set by the Moneylenders Act 2008 and apply equally to Singaporeans, PRs, and foreigners.
Taking a loan from a licensed moneylender has no direct impact on your EP, S Pass, Work Permit, or LTVP status. MOM does not receive information about loans taken from licensed moneylenders. However, if you default and it leads to legal proceedings, this could indirectly affect your employment situation. Repay on time and contact us early if you anticipate any difficulty.
Your borrowing limit depends on your annual income. For foreigners earning below SGD 10,000 per year, the maximum is SGD 500. For those earning between SGD 10,000 and SGD 19,999, the maximum is SGD 3,000. For those earning SGD 20,000 and above, you may borrow up to 6 times your monthly income. These limits apply to your total outstanding balance across all licensed moneylenders in Singapore, not per lender.
At Power Credit Enterprise, we understand that managing finances in a foreign country can be challenging. Our foreigner loan services are designed not just to provide financial assistance, but to offer a supportive partnership throughout your stay in Singapore.
We’re committed to helping you navigate the financial aspects of expat life with confidence and ease. From settling in to managing unexpected expenses, our team is here to provide the financial solutions and guidance you need to make the most of your time in Singapore.
Ready to explore your loan options? Contact Power Credit Enterprise today. Let us help you turn financial challenges into opportunities for stability and growth in your Singapore journey.
Remember, as a foreigner in Singapore, you have unique financial needs and considerations. At Power Credit Enterprise, we’re dedicated to providing the specialized support and solutions you require to thrive financially in your new home.
