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MAS eases brakes on motor vehicle loan restrictions

Jude Chan Published on Thu, May 26, 2016 / 6:46 PM GMT+8

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SINGAPORE (May 26): The Monetary Authority of Singapore (MAS) will ease off restrictions on maximum loan-to-value (LTV) ratios and loan tenure allowed for motor vehicle loans from Friday (May 27).

Maximum loan tenure for motor vehicles will be raised to seven years, up from the current five years.

In addition, the maximum loan amount as a percentage of the purchase price of the vehicle, including taxes and the cost of Certificate of Entitlement (COE) premiums, will be increased.

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