Notice 1109 Unsecured Credit Facilities to Individuals

Requirements for merchant banks when granting an unsecured non-card credit facility to an individual.

Credit Cards and Unsecured Credit

Issued pursuant to:

Monetary Authority of Singapore Act (Cap. 186) section 28(3)

Applies to: Merchant Bank (Locally Incorporated) , Merchant Bank (Branch)

View Notice Notice 1109 Unsecured Credit Facilities to Individuals (233.5 KB)

This notice applies to all merchant banks in Singapore. It sets out the requirements a merchant bank has to comply with when granting an unsecured non-card credit facility to an individual.

See explainers:

01 July 2021: MAS Notice 1109 dated 28 June 2021 takes effect.
01 July 2021: MAS Notice 1109 dated 29 November 2013 (last revised on 6 November 2020) (241.5 KB) is cancelled.
09 November 2020: MAS Notice 1109 (Amendment No.2) 2020 (247.6 KB)dated 06 November 2020 takes effect.
06 May 2020: MAS Notice 1109 (Amendment) 2020 (479.6 KB) dated 05 May 2020 takes effect.
01 Jun 2017: MAS Notice 1109 (Amendment) 2017 (336.6 KB) dated 30 May 2017 takes effect.
01 Sep 2015: Subparagraphs (b), (c), (d) and (q) of paragraph (2) of MAS Notice 1109 (Amendment) 2015 (54.6 KB) dated 27 May 2015 takes effect.
01 Jun 2015: MAS Notice 1109 (Amendment) 2015 (54.6 KB) dated 27 May 2015, with the exception of subparagraphs (b), (c), (d) and (q) of paragraph (2), takes effect. MAS Notice 1109 last revised on 27 May 2015 (232.5 KB).
01 Dec 2013: MAS Notice 1109 dated 29 November 2013 takes effect.
01 Dec 2013: MAS Notice 1109 dated 25 February 2009 is cancelled.