Finance Companies

Finance companies are licensed under and governed by the Finance Companies Act.

They focus on providing fixed and saving deposits as well as credit facilities to individuals and corporations. They may not offer deposit accounts which are repayable on demand by cheque, draft or order. Generally, finance companies shall not grant unsecured credit facilities to any person or body of persons, which in the aggregate and outstanding at any one time exceeds S$5,000. Finance companies are not allowed to deal in any foreign currency, gold or other precious metals or acquire foreign currency denominated stocks, shares or debt securities. They may expand their scope of activities subject to MAS’ approval.

For the latest number of finance companies in Singapore, please refer to this link to the Financial Institutions Directory.

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Date Title
22 Jan 2003 BD 6/2003 - Lifting of Limits on Car LoansCirculars
01 Mar 2005 BD Cir 04/2005 - Central Provident Fund Board's Measures to Address Cashback Transactions for Resale HDB FlatsCirculars
30 Dec 2004 BD Cir 14/2004 - Cash Rebates Offered for Housing LoansCirculars
03 Sep 2013 Borrowers Who are Individuals and Who Own Residential Property Gazetted for Acquisition (Amended from Circular dated 22 July 2013)Circulars
04 Sep 2014 Borrowers Who are Individuals and Who Own Residential Property Gazetted for Acquisition (August 2014)Circulars
01 Apr 2005 Finance Companies (Licence Fees) RegulationsSubsidiary Legislation
31 Jan 1995 Finance Companies (Maintenance of Reserves) OrderSubsidiary Legislation
15 Mar 2004 FSG 02/2000: Posting of Financial Product Information On Third Party Internet Websites [Cancelled with effect from 15 Mar 2004]Circulars
07 May 1999 FSG 151999 MAS Circular to Finance Companies on MAS Notice 806 Maintenance of Minimum Liquid AssetsCirculars
09 May 2000 FSG 16/2000:MAS Notice 806 - Minimum Cash Balances and Minimum Liquid AssetsCirculars
07 Aug 2012 Guidelines on Fit and Proper Criteria [Guideline No. FSG-G01]Guidelines
23 Dec 2016 Guidelines on Standards of Conduct for Marketing and Distribution ActivitiesGuidelines
10 Mar 2017 Guidelines on the Application of Total Debt Servicing Ratio for Property Loans under MAS Notices 645, 1115, 831 and 128Guidelines
31 Dec 2009 Guidelines to MAS Notice 824Guidelines
30 Nov 2015 Guidelines to MAS Notice 824 on Prevention of Money Laundering and Countering the Financing of Terrorism - Finance Companies Guidelines
14 Apr 1998 MAS Circular to Finance Companies on MAS Notice 806:Minimum Cash Balances and Minimum Liquid AssetsCirculars
30 Nov 2015 MAS Notice 824 (Amendment) 2015Notices
30 Nov 2015 MAS Notice 824 on Prevention of Money Laundering and Countering the Financing of Terrorism - Finance Companies Notices
29 Sep 2016 MAS Notice 825A (Amendment) 2016Notices
26 May 2016 MAS Notice 829 (Amendment) 2016Notices
01 Dec 1983 Notice 801 Appointment of AuditorsNotices
21 Nov 2005 Notice 801 Appointment of AuditorsNotices
01 Dec 1983 Notice 802 Branches and Automated Teller MachinesNotices
11 Oct 2004 Notice 803 Publication of Financial StatementsNotices
21 Nov 2005 Notice 804 Submission of StatisticsNotices
17 Oct 2007 Notice 805 Credit Facilities to Directors, Employees, Related and Associated CompaniesNotices
20 Apr 1987 Notice 806 Minimum Cash Balances and Minimum Liquid AssetsNotices
21 Nov 2005 Notice 807 Licence FeesNotices
01 Dec 1983 Notice 808 Disclosure of Directors' InterestsNotices
01 Dec 1983 Notice 808 Disclosure of Directors' InterestsNotices
14 Mar 2005 Notice 809 Revaluation of Assets dated 1 Nov 1973 [Cancelled with effect from 14 Mar 2005]Notices
01 Nov 1973 Notice 810 Take-Over and MergerNotices
11 Mar 2005 Notice 811 Credit Files and Classification of LoansNotices
01 Dec 1983 Notice 812 Financing of Trade and InventoryNotices
21 Nov 2005 Notice 813 Immovable PropertiesNotices
11 Mar 2005 Notice 814 Provision For and Writing Off of Bad DebtsNotices
21 Feb 1978 Notice 815 Submission of Annual AccountsNotices
28 May 2004 Notice 816 Lending of Singapore Dollar to Non-Resident Financial InstitutionsNotices
07 Sep 2007 Notice 817 Appointment of Directors and Chief ExecutivesNotices
07 Sep 2007 Notice 818 Change in Capital and ShareholdersNotices
28 Feb 2013 Notice 819 Control of Advertisements [Cancelled with effect from 1 March 2013]Notices
21 Nov 2005 Notice 820 Credit Facilities to a Single Borrower or Group of BorrowersNotices
21 Nov 2005 Notice 821 Finance Companies' Acquisition of Shares in CompaniesNotices
21 Nov 2005 Notice 822 Power of the Authority to Secure Compliance with Sections 23, 26, 27 and 31Notices
16 Dec 1987 Notice 823 Dealing in Government SecuritiesNotices
01 Jul 2014 Notice 824 Prevention of Money Laundering and Countering the Financing of TerrorismNotices
10 Mar 2017 Notice 825 Residential Property LoansNotices
30 Nov 2011 Notice 825A Residential Property Loans - Fact SheetNotices
29 Nov 2013 Notice 826 Bridging Loans for the Purchase of Immovable PropertiesNotices
30 May 2017 Notice 827 Unsecured Credit Facilities to IndividualsNotices
23 Jan 2013 Notice 828 Reporting of Suspicious Activities & Incidents of FraudNotices
15 Apr 2013 Notice 829 Motor Vehicle LoansNotices
21 Jun 2013 Notice 830 Technology Risk ManagementNotices
10 Mar 2017 Notice 831 Computation of Total Debt Servicing Ratio For Property LoansNotices
31 Dec 2013 Notice 832 Notice on Risk Based Capital Adequacy Requirements for Finance Companies Incorporated in SingaporeNotices
24 Dec 2014 Notice 833 Additional Duties of the Auditors and Information to be Submitted with Annual AccountsNotices
28 May 2004 RMD 27/2004 - MAS Notice 816 Lending of Singapore Dollar to Non-Resident Financial InstitutionsCirculars
06 Jan 2006 SRD 01/2006 - Further Guidance on Business Continuity ManagementCirculars
21 May 2014 SRD TR 01/2014 System Vulnerability Assessments and Penetration TestingCirculars
27 Jul 2016 SRD TR 01/2016 - MAS Circular (Cancellation) 2016Circulars
21 Aug 2013 SRD TR 02/2013: MAS Circular (Cancellation) 2013Circulars
26 Sep 2014 SRD TR 02/2014 IT Security Risks Posed By Personal Mobile DevicesCirculars

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Last Modified on 26/11/2016