Singapore Unsecured Credit Rules: Monthly Income Limits (2026)

The MAS rules on unsecured credit at a glance

Two sets of rules apply. The rules below are set by the Monetary Authority of Singapore (MAS) and apply to banks. Licensed loan providers, which Lendela also calls financial institutions, follow separate Ministry of Law rules, covered further down. Lendela works with both.

Rule	What it says
Minimum income	Banks can grant non-card unsecured credit only if your annual income is at least $20,000
Credit limit	Up to 2 months’ income below $30,000 a year; up to 4 months’ income from $30,000 to below $120,000; no MAS limit from $120,000 (or with net personal assets above $2 million or net financial assets above $1 million)
12-times borrowing limit	If your interest-bearing unsecured debt across all banks stays above 12 times your monthly income for 3 consecutive months, banks cannot grant further unsecured credit

Worked example: $5,000 a month

Annual income is $60,000, so a bank’s limit is 4 months’ income: $20,000 across its cards and unsecured loans. The 12-times rule is reached at $60,000 of interest-bearing unsecured debt across all banks and cards.

Exceptions

The credit limit can be exceeded when you refinance a debt owed to another bank. Loans for certain purposes, such as education, medical and business, are not affected by the minimum income requirement.

Licensed loan providers follow Ministry of Law rules

Licensed loan providers are regulated by the Ministry of Law, not MAS. For Singapore citizens and PRs, the total you can borrow from all of them combined is $3,000 if your annual income is below $20,000, and 6 times your monthly income if it is $20,000 or more. Foreigners have lower limits.

The 6× rule (Credit Limit Management Measure)

If your total unsecured debt exceeds 6× your monthly income, financial institutions face restrictions on extending additional unsecured credit.

The 12× rule (borrowing limit / BTI)

Since 1 June 2019, banks cannot give you more unsecured credit if your interest-bearing unsecured debt, across cards and unsecured facilities at all banks, stays above 12 times your monthly income for three months in a row. See MAS for the exceptions, including borrowers with higher incomes and loans for medical, education and business purposes.

Why this matters for approvals

High utilisation can reduce approval odds, worsen pricing, and narrow options. Bigger approved amounts are not “better” if monthly repayments become tight.

What to do if you’re near the limit

Stop adding new revolving balances
Prioritise paying down high-interest outstanding balances first
Consider consolidation options if you are managing multiple high-cost obligations

Next step

Learn how personal loans work (eligibility, repayments)
If your challenge is multiple revolving balances, explore consolidation
See what your salary means in practice: borrowing limits by salary

Frequently asked questions

What is the minimum income to get a personal loan from a bank in Singapore?

$20,000 a year. Under MAS rules, banks can grant non-card unsecured credit only if your annual income is at least $20,000.

What is the credit limit for someone earning $30,000 to $120,000 a year?

Up to 4 months’ income. Below $30,000 a year the limit is 2 months’ income, and from $120,000 there is no MAS limit.

What happens if I exceed 12 times my monthly income?

If your interest-bearing unsecured debt stays above 12 times your monthly income for three months in a row, banks cannot give you more unsecured credit.