Regulatory Alerts2025-08-21
Added
MAS Notice 632 Residential Property Loans
The Monetary Authority of Singapore issued Notice 632 to establish regulatory rules for banks granting residential property loans to individuals and non-individuals. The notice mandates compliance with specific limits on loan amounts, tenure of credit, and refinancing facilities to ensure responsible lending practices. It applies to all banks in Singapore and is supported by supervisory expectations regarding transparency, customer interest consideration, and product governance.
Notices
Last Revised Date: 21 August 2025
Notice 632 Residential Property Loans
Rules for banks when granting residential property loans to individuals and non-individuals.
Property Loans
Issued pursuant to:
Banking Act 1970
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Notice
Notice 632 Residential Property Loans
(237.6 KB)
This notice applies to all banks in Singapore. It sets out the rules for banks to comply with when granting residential property loans, including limits on loan amount, conditions for loans, and tenure of credit and refinancing facilities.
See also:
Press release: Measures to Cool the Property Market
Rules for New Housing Loans
Mortgage Equity Withdrawal Loan Rules
Refinancing Housing Loans
22 Aug 2025
MAS Notice 632 (Amendment) 2025 (251.5 KB) takes effect.
06 Apr 2020
MAS Notice 632 (Amendment No. 2) 2020 (547.8 KB) takes effect.
18 Feb 2020
MAS Notice 632 (Amendment) 2020 (547.5 KB) takes effect.
06 Jul 2018
MAS Notice 632 (Amendment) 2018 (568 KB) takes effect.
12 Dec 2017
MAS Notice 632 (Amendment 2) 2017 (203.6 KB) takes effect. MAS Notice 632 last revised on 12 December 2017 (202.6 KB) .
11 Mar 2017
MAS Notice 632 (Amendment) 2017 (130 KB) takes effect.
10 Feb 2014 MAS Notice 632 (Amendment) 2014 takes effect. MAS Notice 632 last revised on 10 February 2014 (331.7 KB) .
28 Aug 2013
MAS Notice 632 dated 27 August 2013 takes effect.
28 Aug 2013 MAS Notice 632 dated 13 January 2011 and last revised on 28 June 2013 is cancelled.
MAS conducted thematic inspections on the residential mortgage pricing and disclosure practices of large mortgage lenders over 2020 and early 2021. The paper highlights good practices observed from the inspections, and sets out MAS’ supervisory expectations in the areas of (i) transparency; (ii) consideration of customer’s interests; and (iii) accountability and product governance over the mortgage lending business.
Explains the application of MAS Notices on Housing Loans to borrowers who are individuals and who own residential property gazetted for acquisition.
Explains the application of MAS Notices on Housing Loans to borrowers who are individuals and who own residential property gazetted for acquisition.
Informs financial institutions to use the same valuation as CPF Board in computing the maximum loan amount under MAS’ Notices on Housing Loans.
Informs financial institutions that cash rebates offered for housing loans are not permitted under MAS’ housing loan rules.