Best Personal Loans For Foreigners In Singapore 2025

There’s no fixed rule that limits the number of personal loans you can have, whether you're a Singaporean or a foreigner. However, that doesn’t mean taking on multiple loans is a good idea.

Lenders will assess your total debt obligations before approving new loans. If you already have outstanding loans or credit card debts, you might face challenges getting approved for another loan. Even if you’re approved, juggling several loans at once can strain your finances and affect your credit score.

As a general rule, stick to what you can comfortably repay each month without sacrificing your essential expenses or emergency savings.

Many major banks and licensed lenders in Singapore offer personal loans to foreigners. 

Needless to say, the ones in this article all do, i.e. OCBC, DBS/POSB, UOB, HSBC, Standard Chartered, and Citibank.

Besides those, licensed moneylenders are another option to consider for faster approval, though interest rates can be much higher.

Do note that offers, eligibility, and interest rates may differ depending on your residency status and income level. It’s always worth comparing before applying.

Personal loans are generally very flexible, so you can use them for just about anything, unless stated otherwise in the terms. Some common reasons include:

• Paying rental deposits or initial housing expenses

• Covering moving and relocation costs

• Funding education or professional courses

• Handling unexpected emergencies or medical bills

• Supporting family back home or travelling

Just remember that while it’s tempting to borrow for lifestyle expenses like shopping or holidays, it’s smarter to reserve loans for essential or productive purposes. This helps you avoid unnecessary debt and keeps your finances on track during your stay in Singapore.