Notices
Notice 642 Motor Vehicle Loans
Rules banks must follow when granting motor vehicle loans to individuals, including loan tenure and loan-to-value limits.
Issued pursuant to:
View Notice
Notice 642 Motor Vehicle Loans
(302.2 KB)
This notice applies to all 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
- 06 May 2020
- MAS Notice 642 (Amendment) 2020 (307.7 KB) takes effect.
- 27 May 2016
- MAS Notice 642 (Amendment) 2016 (109.2 KB) takes effect.
- 16 Apr 2013
- MAS Notice 642 (Amendment 3) 2013 takes effect. MAS Notice 642 last revised on 15 April 2013 (258.9 KB).
- 06 Apr 2013
- MAS Notice 642 (Amendment 2) 2013 takes effect.
- 08 Mar 2013
- MAS Notice 642 (Amendment) 2013 takes effect.
- 26 Feb 2013
- MAS Notice 642 dated 25 February 2013 takes effect.