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
12 Dec 2017 Notice 825A Residential Property Loans - Fact SheetNotices
12 Dec 2017 Notice 825 Residential Property LoansNotices
30 May 2017 Notice 827 Unsecured Credit Facilities to IndividualsNotices
10 Mar 2017 Guidelines on the Application of Total Debt Servicing Ratio for Property Loans under MAS Notices 645, 1115, 831 and 128Guidelines
10 Mar 2017 Notice 831 Computation of Total Debt Servicing Ratio For Property LoansNotices
23 Dec 2016 Guidelines on Standards of Conduct for Marketing and Distribution ActivitiesGuidelines
29 Sep 2016 MAS Notice 825A (Amendment) 2016Notices
27 Jul 2016 SRD TR 01/2016 - MAS Circular (Cancellation) 2016Circulars
26 May 2016 MAS Notice 829 (Amendment) 2016Notices
30 Nov 2015 MAS Notice 824 (Amendment) 2015Notices
30 Nov 2015 Guidelines to MAS Notice 824 on Prevention of Money Laundering and Countering the Financing of Terrorism - Finance Companies Guidelines
30 Nov 2015 MAS Notice 824 on Prevention of Money Laundering and Countering the Financing of Terrorism - Finance Companies Notices
24 Dec 2014 Notice 833 Additional Duties of the Auditors and Information to be Submitted with Annual AccountsNotices
26 Sep 2014 SRD TR 02/2014 IT Security Risks Posed By Personal Mobile DevicesCirculars
04 Sep 2014 Borrowers Who are Individuals and Who Own Residential Property Gazetted for Acquisition (August 2014)Circulars

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Last Modified on 07/12/2017