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New rule to curb credit for borrowers with outstanding debt

It caps additional unsecured credit for borrowers whose outstanding unsecured debts exceed six times their monthly income

Singapore

MORE help is on the way for borrowers who are in danger of falling deep into unsecured debts. Come Jan 1, the new Credit Limit Management Measure will enable financial institutions (FIs) to cap the additional unsecured credit for borrowers whose outstanding unsecured debts

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