As a foreigner in Singapore, you have the same rights to open a bank account as a Singaporean. If you are living in Singapore legally, and you hold the visa you will not be faced with an as much financial problem because you are entitled to borrow foreigner loan Singapore.
You will need to present your visa when you open your bank account. The visa will give you permission to be in the country for a period of up to four years. You will need to show a statement from the light company, the telephone company (either fixed line or mobile contract) or a tax return, all which show your address. This will be enough proof for the bank to show them that you are living where you say you are.
Depending on the type of foreign account that you wish to open, you will be required to deposit some money that will help in keeping your account active. Also depending on the type of account, you may be required to deposit a minimum sum every month so as not to have the account closed or not to accumulate bank charges.
Foreigners will be offered any type of credit on their new accounts, such as a credit card, an overdraft, or a loan. Usually, the type of account available to foreigners will be a savings account with either a debit card or checkbook. Bank accounts in Singapore foreigner loan are available for all the foreigners in the country.
One of the major advantages with most of the money lenders in Singapore they use international languages such as English and this helps foreigners in familiarizing with their accounts. In cases where foreigners find the language the company is using is difficult for them they can seek interpreters.
