I am a foreigner working and residing in Singapore. There are times when i need to borrow money to make ends meet. Money is hard to earn and it is difficult to avoid borrowing money with my current line of work. Now that there are amendments to the Moneylenders Act, I want to know how much money can foreigners borrow.
HSBC Personal Loan
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HSBC VISA Platinum Credit Card
OCBC Voyage Card is perfect for well-off consumers with a shifting travel schedule, who want to earn high miles locally and overseas. Consumers earn 2.4 miles per S$1 spend overseas and 1.2 miles on general local spend, which aligns with similar cards. Consumers are most likely to benefit from OCBC voyage card if they spend most of their budget locally, with at least 25% of local spend on dining.
OCBC VOYAGE Card / Oversea-Chinese Banking Corporation
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HSBC VISA Platinum Credit Card / HSBC Bank Singapore
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American Express True Cashback Card / American Express International
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HSBC Premier MasterCard / HSBC Bank Singapore
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American Express Singapore Airlines Solitaire PPS Credit Card / American Express International
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Those with an annual income of less than S$20,000 may borrow up to S$3,000 from all moneylenders combined and those who earn more thanS $20,000 a year may borrow up to six times their monthly income from all moneylenders combined. Meanwhile, for foreigners residing in Singapore, a lower aggregate loan cap of S$1,500 will be imposed on those who earn less than S$10,000 annually. Foreigners who earn between $10,000 and $20,000 a year can borrow up to $3,000, and those who earn at least $20,000 can borrow six times their monthly income.