Notices
 Published Date: 29 June 2021

Notice 1113 Motor Vehicle Loans

Rules merchant banks must follow when granting motor vehicle loans to individuals, including loan tenure and loan-to-value limits.
Issued pursuant to:

Banking Act (Cap. 19) section 55

Applies to: Merchant Bank (Locally Incorporated) , Merchant Bank (Branch)
View Notice Notice 1113 Motor Vehicle Loans (410.1 KB)

This notice applies to all merchant banks in Singapore. It sets out the conditions governing motor vehicle loans, including:

  • Total credit facilities of the borrower.
  • Tenure of loan.
  • Contributions from purchaser or hirer.
  • Verifications to be conducted by banks.
  • Agreements and types of vehicles excluded from these conditions.

See explainer: Rules for Motor Vehicle Loans

Amendment Notes

01 July 2021
MAS Notice 1113 dated 29 June 2021 takes effect.
01 July 2021
MAS Notice 1113 dated 25 February 2013 is cancelled. 

16 Apr 2013
MAS Notice 1113 (Amendment 3) 2013 takes effect. MAS Notice 1113 last revised on 15 April 2013 (184.5 KB).
06 Apr 2013
MAS Notice 1113 (Amendment 2) 2013 takes effect.
08 Mar 2013
MAS Notice 1113 (Amendment) 2013 takes effect.
26 Feb 2013
MAS Notice 1113 dated 25 February 2013 takes effect.