Personal Credit

What is the credit limit for non-card unsecured credit facilities in Singapore?

According to MAS (Pages),
last revised on 30 May 2017

Minimum Income Requirement

FIs can grant non-card unsecured credit facilities only to individuals with annual income of at least $20,000.

Note: Income can include non-employment income such as rental income.

Regulatory Credit Limit

The regulatory limit on unsecured credit (across both unsecured credit cards and non-card credit facilities) varies based on the borrower's annual income. The regulatory credit limit is:

Annual income Regulatory credit limit
< S$30,000 Up to 2 months’ income
≥ S$30,000 to < S$120,000 Up to 4 months’ income
≥ S$120,000
(or net personal assets of at least S$2 million, or net financial assets of at least S$1 million)
No regulatory limit

Excluded Credit Facilities

 [However, note that l]oans granted for the following purposes are not affected by the minimum income requirement on non-card unsecured credit facilities:

  • Education
  • Business
  • Renovation
  • Medical