Singapore central bank to limit auto loans

Newswire

SINGAPORE Feb 25 (Reuters) - Singapore's central bank will impose limits on bank loans for motor vehicle purchases, as it tries to stop consumers from taking on too much credit while borrowing costs are low. The Monetary Authority of Singapore (MAS) said on Monday that loans for a vehicle with an open-market value of up to S$20,000 ($16,200) will be capped at 60 percent of the purchase price, while those worth more than S$20,000 will be limited to 50 percent. ...

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