Can anyone apply or are there income limits?
Didn’t mention income limits for that loan. First 500k applicants can get it. Need to be paying laobao , over 20 years old, Taiwanese ID.
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I’m angry.
First bank refused to give me their new credit card with much better cashback yesterday…
Reason - not available to foreigners.
Never mind that
A) the counter lady asked me if I want to apply!
B) I have had a first bank credit card for years and it’s my salary bank with substantial savings
Half through the process somebody in management seems to have told her it’s not available to foreigners.
When I asked why…She couldn’t explain.
I won’t let this one lie !
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I was recently trying to apply for a personal loan from taiwanese banks but for investment purposes.
After several hours of googling, several calls to several banks, I found out that Standard Chartered was the only bank that is accepting loan for foreigner.
Now I was trying to get a loan for 600k NTD, I have filled out the application and currently waiting for their review, but the impression i get from that one guy who was in contact with me was that my rate wouldn’t be so low cause he was saying something like “low or high interest rate shouldn’t be your number 1 concern, because as you might have known, almost every bank in Taiwan is not accepting foreigner’s loan application, now that you have the chance to get this loan then maybe after the review bank would apply higher rates to you as you are not a Taiwanese citizen.”
PS* I’m working 9-6, I have just 1 credit card from citibank for over 3 years.
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You mean the only one that didn’t require a local guarantor?
Are you married here?
The main determinant of interest rates , apart from having a local ID, is the collateral you can put against it OR your job i.e. Taiwan’‘s Top 500’ company employees and civil servants get lower rates automatically.
Yes. The only one thay didn’t require collateral as well as guarantor.
I’m single, haven’t married, and my company isn’t top 500 haha
here’s a blog as a reference.
so, i really don’t know, fingers crossed.
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I tried to apply such a loan last year through my bank, and I was summarily denied without explanation as to why.
approval rate is pretty low, 10% or so of applicants are approved.
Taiwan doesn’t seem to do ‘personal loans’ like Canadian and American banks do. The NA banks make a lot of money from personal loans and credit cards, but Taiwan seems to only be after medium to large enterprises and high net worth individuals
They do personal loans, but the approval rate for such loans are very low. You gotta prove to them that you will pay it back.
Basically banks here do not like to give out unsecured loans at all.
The only way to get a high approval rate, unsecured loan is through a loanshark.
That’s my point, they do personal loans but most aren’t getting one. That’s not their target audience unlike America where all and sundry get one
Hi @Brianjones,
Can you tell me from which bank you got the loan, as i also want the personal loan but so far all the banks are refusing.
Any leads will be highly appreciated.
I am married and my wife is Taiwanese as I am holding spouse visa and work here from last 4+ years.
Thank you
I have been trying to get personal loan recently and so far all the banks are directly refusing me.
Is there anyone face the same issue or finding any bank who can give personal loan to a foreign resident based on his salary or bank details?
I am married and my wife is Taiwanese who can be the guarantor but still no bank is showing any interest.
Is there any law in Taiwan where a foreigner can not get a personal loan?
Any leads will be highly appreciated.
Thank you
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@Brianjones thank you for the reply, but can you tell me which branch you went?
because they told me that they won’t give loan to foreigners.
well, there are a host of reasons leading to rejection (besides the usual Foreigner meibanfa BS):
amount requested and purpose
salary level
prior debt(s)
credit score and history
If you can shed some light on those, maybe can give some hints, rn I have no clue on ur situation, u can be Bill Gates as much as u can be homeless. Need info 
Yes I do. Read about it here. Finally after a lot of hassle one bank offered me a loan but I didn’t take it. Most refused me without knowing my salary or credit history so…
Some loan offers online are expressly not offered to foreigners in the terms and conditions.
Hey Mataion,
I requested between 3-4 million
Prior debts are none
Salary level is average i guess (above 1.5million/year)
never took any loan before neither me nor my wife.
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Do you have any credit score by the means of credit cards?
If no score at all it might be challenging to get something that big.
i don’t use credit cards, but as @Brianjones said, they even didn’t asked my salary or my bank details or any thing, they just said no we won’t give loans to foreigners .
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in this case then, pls report the incident to the FSC and/or FOI. Try to be as detailed as possible.
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