A "low interest" loan shouldn't mean you have very little interest in paying it back!

    How A Foreigner Can Get A Home Loan in Singapore?

    Singapore is one of the top financial hubs in the world and is also known as a country that is very friendly to foreigners. Thus, it is not surprising that people from around the planet live and work in Singapore. The foreigners who work in the city often settle down in Singapore and make this island their permanent residence. In order to settle in Singapore or to simply invest in the flourishing real estate market in the country, many foreigners opt for purchasing houses here. Given that purchasing a house can be a costly activity, most of the foreigners living in the city look for financial assistance in the form of a home loan to purchase the property of their choice.

    How Can A Foreigner Get Home Loans in Singapore?

    There are many banks and financial institutions in the Lion City that offer home loans not only to Citizens and Permanent Residents of Singapore, but also to foreigners who live and work in the city with valid work permits. The eligibility criteria is different from one lender to the other and some of the lenders might even have a higher income criteria for foreigners. The process of applying for a home loan is same for foreigners and citizens / permanent residents of Singapore. The Home Loan Specialists of the lender can help you with the application process and also provide you with an idea of the documents that you will need to submit while applying for the loan.

    In most cases, the banks and financial institutions offer the same type of home loan products to both foreigners and citizens / permanent residents of Singapore. However, they do not offer HDB home loans to foreigners as they are not eligible to purchase any property constructed by the Housing Development Board in Singapore. Some of the banks that offer home loans products to both foreigners and citizens / permanent residents of the city are as follows:

    • Bank of China
    • HSBC
    • Maybank
    • OCBC
    • Standard Chartered
    • State Bank of India

    Apart from the above, foreigners are also offered with a home loan by the United Overseas Bank (UOB). UOB Home Loan for Foreigners can be ideal for those foreigners who work in Singapore and intend to become a proud home owner in the city. You can avail up to 80 percent of the valuation or the market price of the property as a loan.


    If you are a foreigner who wants to get a home loan in Singapore, you have to remember that you should have a high annual income. Besides, your work permit should be valid and it should not expire for a minimum period of 1 year. The eligibility criteria usually differs from one lender to the other and when you apply for the loan, the lender will scrutinize your complete financial profile and history to determine if your application should be approved.

    Documents Required

    As a foreigner applying for a home loan in Singapore, you will most likely need to submit the following documents:

    • A loan application form (dully filled) that can be downloaded from the official website of the lender
    • Photocopies of your passport
    • Income Proof documents such as your latest pay slips, latest bank statements, employment letter etc.
    • In case you are self-employed, you will need to offer your Income Tax Notice of Assessment for the last 2 years along with latest bank statements as income proof.
    • You will also need to submit the Copy of Sales and Purchase Agreement OR Option to Purchase of the Property

    The lender might ask you submit other documents as well, when they process your loan application.

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