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Best Licensed Moneylender Pte Ltd | License No. 54/2025
Need a loan as a foreigner working in Singapore? Best Licensed Moneylender Pte Ltd welcomes applications from Employment Pass, S Pass, and Work Permit holders, with same-day approval and transparent terms.
Find the Best Loans with Best Licensed Moneylender
How much do you want to borrow?
$2,000
$1000
$100k
Term (months)
6 months
1 mth
36 mths
Updated 22 July 2026
As a foreigner working in Singapore, you may need funds for an emergency, relocation costs, medical expenses, or personal needs. Most banks, however, have strict eligibility requirements that exclude many foreign workers. Licensed moneylenders bridge this gap. Under Singapore's Moneylenders Act, licensed moneylenders are authorised to provide loans to foreigners holding valid work passes. All loan terms, interest rates, and fees are regulated by the Ministry of Law, giving you the same protections as Singapore citizens and PRs. Best Licensed Moneylender Pte Ltd has extensive experience helping foreigners from different nationalities access financial assistance. Our team understands the documentation and work pass requirements for foreign borrowers and keeps the application process straightforward.
Learn more about borrowing from a licensed moneylender in Singapore and your protections under the Moneylenders Act, or return to the Best Licensed Moneylender homepage.
Calculate your repayments and get clarity on interest rates.
Find the Best Loans with Best Licensed Moneylender
How much do you want to borrow?
$2,000
$1000
$100k
Term (months)
6 months
1 mth
36 mths
Interest % (Monthly)
Total Payment
$0Monthly Installment
$0Total Interest
$0
Foreigners with valid Employment Passes, S Passes, or Work Permits can legally borrow from licensed moneylenders in Singapore. The maximum nominal interest rate is 4% per month. Permitted charges are limited to an administrative fee of up to 10% of the principal, a late fee of up to $60 per month of late repayment, late interest of up to 4% per month on overdue amounts, and court-ordered legal costs.
We welcome applications from holders of valid work passes issued by the Ministry of Manpower.
Employment Pass (EP)For foreign professionals, managers, and executives earning a qualifying salary. EP holders may qualify based on their income and existing obligations.
S PassFor mid-skilled foreign workers meeting the salary and skills criteria. Apply with proof of income and valid pass documentation.
Work Permit (WP)For semi-skilled foreign workers in approved sectors. Apply with your valid pass and latest payslips as proof of income.
Foreign Borrower ExperienceWe have helped foreign workers from diverse nationalities access loans in Singapore. Our team understands work pass requirements and foreign documentation.
Same-Day DecisionsComplete foreigner loan applications can receive in-principle approval within 30 minutes and same-day disbursement after signing.
Transparent TermsAs a Ministry of Law licensed moneylender, our interest rates, fees, and written contracts comply with Singapore's Moneylenders Act.
Multilingual SupportOur staff can assist in English, Mandarin, and Malay to make foreigner loan requirements easier to understand.
Convenient Singapore LocationOur office at 13 North Bridge Road near Bugis MRT is accessible by public transport from across Singapore.
Confidential and RespectfulPersonal information is protected under Singapore's PDPA, and every foreign applicant is treated with dignity and respect.
30-minuteLoan Approval
No GuarantorRequired
CashDisbursed on the spot
Licensedby Registry of Moneylender
Foreigners who are at least 21 years old, legally employed in Singapore, and able to show stable income may apply under their work pass category.
Employment Pass Foreigner Loans
Valid Employment PassQualifying professional, managerial, or executive employmentProof of salary and existing financial obligationsS Pass Foreigner Loans
Valid S Pass issued by MOMEmployment that meets S Pass salary and skills criteriaLatest income and pass documentationWork Permit Foreigner Loans
Valid Work Permit issued by MOMEmployment in an approved Singapore sectorLatest payslips showing stable incomePrepare these foreigner-specific documents before your visit to help speed up the application process.
Identity Documents
Valid passportEmployment Pass, S Pass, or Work PermitIn-Principle Approval letter, if applicableProof of Income
Latest 3 months of payslipsBank statements showing salary creditsEmployment contract, if recently startedProof of Residence
Tenancy agreementRecent utility bill at your Singapore addressEmployer accommodation letter, if applicable
Apply with Myinfo
Submit an application through Singpass Myinfo for fast processing within 3 minutes.
Book an Appointment
Receive same day in-principle approvals. Book your appointment with us today through Whatsapp at the bottom-right.
Receive Your Funds
Funds can be disbursed physically at the outlet, or through your preferred PayNow.
Save yourself hours and let us help you get the best loans
Interest Rate Cap
Licensed moneylenders may charge a maximum nominal interest rate of 4% per month. This applies to all borrowers, including foreigners.
Permitted Fees
Only an administrative fee of up to 10% of principal, a late fee of up to $60 per month of late repayment, late interest of up to 4% per month on overdue amounts, and court-ordered costs may be charged.
Written Contract
Every loan agreement must be in writing, and you are entitled to a copy. Never sign a contract you do not understand.
No Passport Retention
A licensed moneylender must not retain your passport or work pass. A request to hold your documents is a red flag.
Data Protection
Your personal information is protected under the Personal Data Protection Act. Licensed moneylenders may not share your data without consent.
Foreign workers should confirm that a lender follows Singapore law before sharing documents or accepting a loan. Watch for these warning signs:
✕
The lender asks to keep your passport, work pass, ATM card, or Singpass credentials
✕
The lender offers an unsolicited foreigner loan through SMS, WhatsApp, or social media
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The lender will not explain a written contract or give you a copy before disbursement
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The lender charges undisclosed fees or interest above Singapore's legal limits
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The lender has no registered office or is absent from the Ministry of Law's licensed moneylender registry
Can foreigners legally borrow from a licensed moneylender in Singapore?
Can foreigners legally borrow from a licensed moneylender in Singapore?
Yes. Under Singapore's Moneylenders Act, licensed moneylenders are permitted to lend to foreigners who hold a valid work pass and meet the eligibility criteria. Best Licensed Moneylender Pte Ltd is fully licensed by the Ministry of Law and welcomes loan applications from foreigners working in Singapore.
What types of work passes qualify for a foreigner loan?
What types of work passes qualify for a foreigner loan?
We accept applications from holders of Employment Passes (EP), S Passes, and Work Permits issued by the Ministry of Manpower (MOM). Your work pass must be valid at the time of application and should have a remaining validity period.
How much can a foreigner borrow from a licensed moneylender?
How much can a foreigner borrow from a licensed moneylender?
The loan amount available to foreigners depends on several factors, including your income level, work pass type, and existing financial obligations. Under the Moneylenders Rules, the borrowing limits are set based on your annual income. Our loan officers can advise you on the amount you may be eligible for during your application.
What interest rate will I be charged as a foreigner?
What interest rate will I be charged as a foreigner?
Licensed moneylenders in Singapore may charge a maximum nominal interest rate of 4% per month. This cap applies equally to all borrowers — Singaporeans, PRs, and foreigners. The specific rate for your loan will depend on your profile and will be clearly stated in your loan contract before you sign.
How long does it take to get approved for a foreigner loan?
How long does it take to get approved for a foreigner loan?
At Best Licensed Moneylender, we provide in-principle approval within 30 minutes for complete applications. Once your loan is approved and the contract is signed, funds can be disbursed on the same day — either at our office or via PayNow.
Can I apply if my work pass is about to expire?
Can I apply if my work pass is about to expire?
We evaluate each application individually. If your work pass is close to expiry, we may require evidence of renewal or an In-Principle Approval (IPA) letter for your new pass. We recommend applying while your work pass still has sufficient remaining validity.
What documents do foreigners need to prepare?
What documents do foreigners need to prepare?
You will need your valid passport, work pass card, latest 3 months of payslips, and proof of residential address in Singapore (such as a tenancy agreement or utility bill). If you have an IPA letter, please bring that as well. Having all documents ready helps speed up the process.
What happens if I lose my job or my work pass is cancelled?
What happens if I lose my job or my work pass is cancelled?
Your loan obligations remain even if your employment status changes. If you face difficulties with repayments, we encourage you to contact us as early as possible. We will work with you on a reasonable arrangement. Failure to repay does not result in criminal charges, but it may affect your creditworthiness.
Foreigners working in Singapore can apply online in minutes or visit us at 13 North Bridge Road.
Apply Now - 5 Minutes ApprovalRead latest below or check our reviews on Google
Dec 29, 2025
Went today to just inquire for a loan first, all the staffs were very attentive and approachable as how they welcome you with smiles. Got an offer from Ms. Qian (hopefully i'm correct) she was very professional and helpful. The process was fast as they are also flexible in expediting the requirements. Thank you!
May 26, 2026
Every information is cleared. Verlyn is very helpful in getting me done in every steps. appreciate her kind and patience assistance
Jan 17, 2026
I had a very pleasant experience with the BEST. The staff are very accomodating. And very approachable. They really helped me a lot. I would like to send my gratitude to Ms Qian Yi for the well-explained, approachable and accommodating relationship-client way. Thank you
Jan 17, 2026
I had a great experience with Mysta from the credit company. She is very friendly and provides excellent service. She helped me a lot when I needed support the most. Highly recommended.
Last update 22 Jul 2026
Application Submitted in last 30 days
1243
Processing Time average
40min
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