Income Update Credit Card & Unsecured Loans

Income Update for Credit Cards and Unsecured Loans

At a Glance

Avoid suspension on unsecured credit facilities

Continue to use your credit facilities seamlessly

Hassle free application

Easy online submission with few steps

Fast and simple process

Update your latest income document with us

Update now

How it worksIf your total interest-bearing outstanding balances¹ on all credit cards and other unsecured credit facilities with banks and other credit card issuers in Singapore exceed the industry-wide borrowing limit² for 3 consecutive months, you will generally not be able to:

charge new amounts to your existing credit card(s) and/or use other unsecured credit facilities with all financial institutions;

obtain credit limit increases on your existing credit card(s) and/or other unsecured credit facilities with all financial institutions;

obtain new credit cards or other unsecured credit facilities from all financial institutions.

Refer to Revised unsecured credit rules FAQ for more detailsIf your account is already suspended, please visit: Reinstatement of Suspended account to update your income and uplift the suspension.¹ These include amounts rolled over on credit cards and balances outstanding on unsecured loans that accrue interest. Such balances do not include amounts charged to credit cards that are fully repaid by their due dates, and amounts outstanding on interest-free instalment payment plans. If, however, interest is imposed on a particular instalment due to late payment, the instalment amount will be included.

² The borrowing limit is 12 times of your monthly income.

Required documents

For Singapore Citizens and Permanent Residents

Singpass holders applying via Myinfo with Singpass, no documents are required.

Salaried Employee

Variable Commission-based Employees/ Self-Employed

a. Salary Crediting into DBS/POSB Account^1,2

✔
a or (b+c)

b. Latest Computerised Payslip¹

c. Latest Income Tax Notice of Assessment

✔

2 years

For Singapore Citizens and Permanent Residents who are above 56 years old

	Salaried Employee And 56 years & above	Variable Commission-based Employees / Self-employed and 56 years & above
a. Salary Crediting into DBS/POSB Account^1,2	✔ a or (b+c)
b. Latest Computerised Payslip¹
c. Latest Income Tax Notice of Assessment		✔ 2 years
Additional supporting documents (optional)
d. CPF Monthly payouts history statement or Personal bank statement in SGD showing CPF Life/Retirement Sum Scheme (RSS) payout	✔ 1 month
e. Annual personal bank statement in SGD showing Dividend or interest income	✔ 1 year
f. Personal Bank statement in SGD showing pension payout	✔ 3 months

For Foreigner

	Salaried Employee	Variable Commission-based Employees/ Self-Employed
a. Employment Pass with at least 6 months validity	✔	✔
b. Company letter certifying Employment & Salary (in Singapore dollar currency), dated within 3 months from the date of credit card application	✔	✔
c. Latest Computerised Payslip¹	✔
d. Latest Income Tax Notice of Assessment	✔	✔ 2 years

¹ Income record/ documents must not be dated more than 3 months prior to date of application.

² Your salary must be credited via GIRO, to your own DBS/POSB Account for the last 3 consecutive months and your current annual income meets our minimum income criteria. Salary credited into joint account will not be considered.