Best Money Lender for Work Permit Holders in Singapore

Hey there, fellow work permit holders in Singapore! Are you going through a tough time financially and finding it ridiculously hard to get a loan? Well, you’re not the only one facing this frustrating situation. It seems like banks have a knack for setting sky-high minimum income requirements and interest rates, all because they perceive work permit holders as risky borrowers. But fret not, there’s a viable solution that can provide you with the financial assistance you need – money lenders for work permit holders. 

These remarkable individuals comprehend the hardships we face and stand ready to provide the much-needed financial support you crave. They are akin to superheroes, swooping in to save the day when those big banks abandon you. 

So, if you’re in dire need of a loan and wish to bypass the headache of dealing with banks, these devoted money lenders for work permit holders are your go-to saviors.

Understanding Work Pass Holders: The Backbone of Singapore’s Economy

Before we embark on exploring the perks of money lenders tailored for work permit holders, let’s pause for a moment to grasp the essence of being a work permit holder in Singapore. 

In a nutshell, a work permit is a type of work pass granted to foreign workers engaged in various sectors like construction, manufacturing, marine, services, and more. These hardworking individuals play a pivotal role in the vibrant tapestry of Singapore’s economy, driving its progress and success.

You see, Singapore relies on the contributions of these work pass holders to fuel key industries and meet the demands of a dynamic and ever-growing economy. From constructing awe-inspiring structures to powering the manufacturing sector, their unwavering dedication and expertise are the bedrock upon which Singapore’s prosperity is built.

Foreigner Loans: A Lifeline for Work Permit Holders’ Finances

If you’re a work permit holder, you’ve probably experienced the frustration of trying to secure a loan from traditional banks. They often have strict criteria that make it difficult for foreigners like you to borrow money. But don’t worry, there’s a solution tailored specifically to your needs: money lenders for work permit holders.

Unlike personal loans that are easily accessible to Singaporeans, foreigner loans have their own set of requirements designed to accommodate the unique circumstances of work permit holders. One of the main differences is the minimum income threshold. While Singaporeans can get a personal loan with an annual income as low as S$20,000 or S$30,000, work permit holders usually need to earn at least S$40,000 per year to qualify for a similar loan amount.

The reason behind these higher income requirements is the perception that work permit holders carry a higher risk. Factors like limited credit history and the possibility of leaving the country once their work contracts end contribute to this perception. Money lenders specializing in loans for work permit holders understand these concerns and have designed their services accordingly.

Best Foreigner Loan for Work Permit Holders – Accredit Moneylender

When it comes to finding the best money lender that specializes in loans for work permit holders, there’s one name that stands out: Accredit Moneylender. We’re reliable, reputable, and we’ve got your back when you need financial assistance.

At Accredit Moneylender, we don’t put much weight on your credit score. Instead, we focus on your monthly income and employment stability. That means we can provide both locals and foreigners with the same loan amount, interest rates, and repayment terms. Now, let’s dive into the details of what we offer for work permit holders:

Borrower’s annual incomeForeigners residing in SingaporeInterest Rate Loan Term
Less than S$10,000S$500Up to 4%12 Months
Between $10,000 to $20,000S$3,000Up to 4%12 Months
Greater than $20,0006 times the monthly incomeUp to 4%12 Months

So, if you find yourself in need of some financial support, remember that foreigner loans are there for you. They’re designed with work permit holders in mind, giving you a chance to navigate the financial landscape and overcome any obstacles that may come your way

Benefits of Foreigner Loans for Work Permit Holders

Now, let’s delve into the benefits that work permit holders can reap by choosing a foreigner loan from a money lender:

Easy Access to Financial Support, Regardless of Credit History

One major advantage of money lenders catering to work permit holders is their willingness to provide loans even if you don’t have an established credit history. Unlike traditional banks that heavily rely on credit scores, these money lenders understand the unique circumstances faced by work permit holders. They focus more on factors like your monthly income and employment stability, rather than solely relying on a credit score.

Flexible Loan Amounts and Repayment Terms

Money lenders specializing in loans for work permit holders offer greater flexibility when it comes to loan amounts and repayment terms. Take us, Accredit Moneylender, for example. We provide work permit holders like you the opportunity to borrow up to six times your monthly salary, depending on your annual income.

Repayment terms are equally important, as we understand that each of you has unique circumstances. That’s why we strive to provide manageable repayment periods. With us, Accredit money lender, you can enjoy a repayment period of up to 12 months, giving you ample time to repay the loan without undue stress.

Streamlined Application Process for Convenience

Moneylenders recognize the importance of a simple and efficient loan application process. Accredit Moneylender, for instance, offers an online application that is open to all – Singaporeans, work permit holders, and other permit holders alike. This accessibility ensures that anyone in need of financial assistance can apply conveniently.

How to Apply for a Foreigner Loan?

Applying for a foreigner loan with Accredit Moneylender is a straightforward process. Here are the general requirements:


  • Minimum Age: At least 21 years old
  • Maximum annual income: S$10,000 or less


  • Valid passport
  • Work Permit, S-Pass, or Employment Pass
  • Proof of residence (utility bills or a tenancy agreement)
  • Proof of employment
  • Proof of income (pay slips)

Tips for Getting a Loan from a Moneylender

When it comes to getting a loan from a moneylender, it’s important to approach the process with care. Here are some handy tips to help you out:

  • Assess Your Financial Requirements: Take a moment to evaluate your precise borrowing needs. This will help you steer clear of unnecessary debt and borrow only what is truly essential.
  • Comprehend the Terms and Conditions: Take the time to thoroughly grasp the details of the loan agreement. Pay close attention to factors such as interest rates, repayment schedule, and any supplementary charges that may apply.
  • Borrow with Care: Only borrow an amount that you can comfortably repay, based on your income and expenses. It is vital to avoid overextending yourself and falling into a financial bind.
  • Devise a Sensible Repayment Plan: Formulate a realistic budget and repayment strategy to ensure prompt repayment without undue financial strain. By planning ahead, you can stay on top of your payments and maintain financial stability.
  • Maintain Open Communication with Your Moneylender: If you encounter difficulties along the way, don’t hesitate to engage in open dialogue with your moneylender. Discuss potential alternatives or solutions that could help you navigate through challenging circumstances.


If you’re a work permit holder in Singapore seeking a loan, look no further. At Accredit Moneylender, we understand the unique challenges you face and we don’t rely solely on credit scores. We take into account your monthly income and job stability, offering a lifeline during times of financial need. So, don’t hesitate to explore the options we provide. It’s time to take control of your financial situation and pave the way to a more secure future.

Ready to take that first step? Contact us now and let’s work together towards your financial goals. Your future starts now. 

Accredit Pte Limited has 4 locations island-wide, to bring our transparent services closer to you.


Tampines Branch
(+65 6226 2662)
Yishun Branch
(+65 6219 2662)
Hougang Branch
(+65 6245 2662)
Clementi Branch
(+65 6261 2662)

Accredit @ Yishun

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Tampines

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Hougang

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Clementi

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm