Notice 635 Unsecured Credit Facilities to Individuals

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

Credit Cards and Unsecured Credit

Issued pursuant to:

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)

View Notice Notice 635 Unsecured Credit Facilities to Individuals (228.1 KB)

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

See explainers:

14 May 2022: MAS Notice 635 (Amendment) 2022 (239 KB) dated 13 May 2022 takes effect.
09 November 2020: MAS Notice 635 (Amendment No.2) 2020 (257 KB)dated 06 November 2020 takes effect.
06 May 2020: MAS Notice 635 (Amendment) 2020 (489.6 KB) dated 05 May 2020 takes effect.
01 Jun 2017: MAS Notice 635 (Amendment) 2017 (298.3 KB) dated 30 May 2017 takes effect.
01 Sep 2015: Subparagraphs (b), (c), (d) and (q) of paragraph (2) of MAS Notice 635 (Amendment) 2015 (54.9 KB) dated 27 May 2015 take effect.
01 Jun 2015: MAS Notice 635 (Amendment) 2015 (54.9 KB) dated 27 May 2015, with the exception of subparagraphs (b), (c), (d) and (q) of paragraph (2), takes effect. MAS Notice 635 last revised on 27 May 2015 (232.6 KB).
01 Dec 2013: MAS Notice 635 dated 29 November 2013 takes effect.
01 Dec 2013: MAS Notice 635 dated 25 February 2009 is cancelled.