Loans for Foreigners
Foreigners can get loans from banks or registered financial companies if they meet conditions like remaining stay, income, and credit. However, requirements are strict and you may be declined. The below is general information only — Hangukin does not provide loans. ⚠️ Rates and limits vary by timing, institution, and personal credit — we do not quote fixed figures. 🚨 Always avoid illegal high-interest private lending.
What you need
- ARC
- Proof of income (employment certificate/payslip)
- Bank transaction history
- Documents showing your remaining period of stay
How to
- 1First look into “registered” institutional financial companies such as banks.
- 2Ask official channels (Korea Inclusive Finance Agency ☎1397) whether foreigners are eligible.
- 3Prepare income, employment, and stay documents.
- 4Compare terms (rate, limit, repayment) across several lenders — verify via official info, not ads.
- 5Read the contract to the end and ask about anything unclear before signing.
Tips
- Check official channels first (Korea Inclusive Finance Agency ☎1397).
- 🚨 Loans above the legal maximum interest rate (20% per year) are illegal lending — you don’t have to pay the excess interest; report it immediately at 1332 (→ menu 3).
- 🚨 “Easy loan” ads/texts/social posts like “foreigners always approved” or “no credit check” are almost always scams or illegal lenders. Never use them.
- 🚨 If anyone asks you to send a “processing fee, deposit, or advance interest” to get a loan, it is 100% a scam (legitimate loans never require upfront payment).
- 🚨 Never lend or hand over your bankbook, debit card, ID, or ARC — they get used for crime/“burner accounts,” violating the Electronic Financial Transactions Act (up to 5 years or KRW 30 million fine) and risking deportation.
- 🚨 If a lender asks for excessive personal data (certificates, passwords, OTP, full card number) during consultation, stop and be suspicious.
Key contacts
- FSS ☎1332 — financial counseling; report illegal/high-interest lending at 1332 (→ menu 3)
- Korea Inclusive Finance Agency ☎1397 — government microfinance/debt counseling
- Police ☎112 — report loan fraud
Solve it with a tool
Related guides
This is general information, not an ad or referral. Rates, fees, and conditions change often — always verify with each service or financial institution before use. ⚠️ Never use illegal high-interest lenders.
Last updated: 2026-06-09