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Eligibility & Documents
Sole Proprietors / Partnerships / Private Limited Companies
50% or more shareholdings is effectively held by Singaporeans / PRs
Minimum 3 years of business operations
Exclude holding companies or entities which are restricted by local regulations and/or the bank’s internal on-boarding criteria.
Photocopies of Sole Proprietors’ / Partners’ / Principals’ / Directors’ Identity Cards / Passports
Company’s operating bank current account statements for the past 6 months and/or latest 4 quarters’ GST (Goods & Services tax) returns statements if you are a GST registered company
Copy of Sole Proprietors’ / Partners’ Income Tax Notice of Assessment
Successful applicants may be granted up to a maximum of US$3million of facilities which must be secured by residential, commercial and/or industrial properties, and up to a maximum of an additional US$2million of facilities which must be secured by Cash and/or a Stand-by Letter of Credit.
This is the maximum level of financing. Each successful applicant’s level of financing will differ based on different property types and other considerations.
All applications may be subjected to additional documents and are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.