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PropertyGuru suggested that the surge in home acquisition expenses, coupled with economic uncertainties, might have prom...
22/11/2023

PropertyGuru suggested that the surge in home acquisition expenses, coupled with economic uncertainties, might have prompted potential sellers to hesitate in listing their properties.
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Residential property supply dipped in 3Q23 In the third quarter of 2023, the residential real estate market experienced a noticeable downturn in both its supply and demand. As reported by PropertyGuru, the Singapore Property Sale Demand Index experienced a significant decline of 14.4% quarter-on-qua...

Curious about the differences between a line of credit and a personal loan? Explore the interest rates and eligibility f...
22/11/2023

Curious about the differences between a line of credit and a personal loan? Explore the interest rates and eligibility factors that come with both options so you can make better borrowing decisions for your financial needs.
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Everything You Need To Know About Personal Loans Vs. Personal Lines Of Credit Ever considered borrowing money for a big event or a home project? You might have heard about Personal Loans vs. Personal Lines of Credit, but understanding the differences between them can be a game-changer. While both ar...

Curious about personal loans in Singapore and wondering how much you can borrow? The answer is more complicated than you...
18/11/2023

Curious about personal loans in Singapore and wondering how much you can borrow? The answer is more complicated than you think. Dive into the basics of personal loans to find the right choices for your financial needs.
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Personal Loan 101 Thinking about getting a personal loan to fix up your home, start a business, manage credit card debt, or go on a vacation? Personal loans are extremely flexible and often lower interest rates than credit cards. The best part? With most personal loans, you don't need to

The UTC initiative framework is designed to assess the financing worthiness of micro, small, and medium-sized enterprise...
18/11/2023

The UTC initiative framework is designed to assess the financing worthiness of micro, small, and medium-sized enterprises (MSMEs). The framework relies on both traditional and alternative data sets, specifically source data and derived data.
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UNDP, MAS, and other partners launch financing initiatives geared toward MSMEs In a collaborative effort, the United Nations Development Programme (UNDP), the Monetary Authority of Singapore (MAS), the Bank of Ghana (BoG), the Global Legal Entity Identifier Foundation (GLEIF), and the SME Finance Fo...

Running low on cash happens to the best of us. The good news is there are plenty of banks and financial institutions off...
16/11/2023

Running low on cash happens to the best of us. The good news is there are plenty of banks and financial institutions offering unsecured loans in Singapore. These loans let you borrow money without having to put up any collateral.
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Everything You Need to Know About Unsecured Personal Loan You can't deny that no matter how much you try to avoid it, sometimes, borrowing money is the quickest and most convenient fix to fill your financial gaps. That said, choosing the right type of loan is crucial. If you're wondering what is an....

Only 21% of Singaporeans are currently on track with their retirement plans this year, which marks an 8-percentage point...
15/11/2023

Only 21% of Singaporeans are currently on track with their retirement plans this year, which marks an 8-percentage point drop compared to last year.
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Most young Singaporeans are not on track to reach retirement goals A recent report from OCBC's Financial Wellness Index has shed light on a concerning trend in retirement planning among Singaporeans. The findings reveal an overall decrease in individuals actively contributing to their retirement fun...

A Meltwater report highlighted the transformation of social media from a mere source of financial advice to a platform t...
15/11/2023

A Meltwater report highlighted the transformation of social media from a mere source of financial advice to a platform that fosters “a collective voice through community, support, and validation.”
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Social media mention of terms like “savings” increased by 334% The dynamics of financial security are evolving in Singapore, with a significant shift towards social media influencing financial decisions, as highlighted by a Meltwater report. Meltwater noted a substantial increase in social media...

The digital banking service interruption caused customers to face challenges accessing OCBC's banking facilities and Pay...
13/11/2023

The digital banking service interruption caused customers to face challenges accessing OCBC's banking facilities and PayNow. An app error message alerted customers to potential difficulties in accessing these services.
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OCBC Facebook filled with complains after new round of technical issues OCBC’s digital banking services resumed after being disrupted for more than two hours due to technical issues on 7 November. Acknowledging the problems, the bank stated that the issues began around 12 p.m., affecting Funds Tra...

These days, more and more people are applying for personal loans to fast-track their dreams or deal with emergencies. Th...
13/11/2023

These days, more and more people are applying for personal loans to fast-track their dreams or deal with emergencies. This article aims to give you a better picture of when you should take out a personal loan.
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Personal Loan 101 Have you ever had moments where you just sit and pause and think about all the things you want to do in your life? You might want to travel the world, start your own business, own a home, or pay off a debt that's been lingering for too long. While these dreams can

A new report showed an interesting shift towards digital literacy in the Lion City. The surge in digital skills among di...
08/11/2023

A new report showed an interesting shift towards digital literacy in the Lion City. The surge in digital skills among different age groups signifies Singapore’s commitment to fostering a technologically savvy population.
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2 in 3 Singaporeans keen to try new digital technologies The Infocomm Media Development Authority (IMDA) has unveiled the inaugural Singapore Digital Society Report, presenting striking statistics showing that 99% of households in the nation now boast internet connectivity. The comprehensive report....

According to the LTA, the COE quota for Categories A, B, and C is anticipated to continue its upward trend in 2024, head...
07/11/2023

According to the LTA, the COE quota for Categories A, B, and C is anticipated to continue its upward trend in 2024, heading towards its peak supply in 2025. Meanwhile, the quota for Category D in 2024 is projected to maintain a level similar to that of 2023.
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Categories A and B COEs increase by 35% each The Land Transport Authority (LTA) has announced a change in the Certificate of Entitlement (COE) quota for November 2023 to January 2024, adding to the prior reallocated COEs announced last month. In a statement released on 3 November, the LTA declared a...

Whether you're planning a dream vacation, consolidating debt, or dealing with unexpected expenses, understanding the ins...
06/11/2023

Whether you're planning a dream vacation, consolidating debt, or dealing with unexpected expenses, understanding the ins and outs of personal loans in Singapore is essential.
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In Singapore, financial flexibility plays a crucial role in empowering people to seize opportunities and navigate life's uncertainties. In many ways, personal loans in Singapore are the best financial solutions designed to cater to the diverse needs of residents who need a helping hand to bridge the...

DBS chairman Peter Seah admitted that the bank fell short of meeting customer expectations. According to this, the senio...
06/11/2023

DBS chairman Peter Seah admitted that the bank fell short of meeting customer expectations. According to this, the senior management will be held responsible and their compensation will be impacted.

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DBS may take 24 months to implement structural changes for digital banking services The Monetary Authority of Singapore (MAS) has taken a stringent stance against DBS, Singapore's largest lender, following a series of service disruptions throughout this year.The banking institution has been barred f...

75% of SMBs are actively exploring options to change their banking solution provider. This underscores the growing deman...
06/11/2023

75% of SMBs are actively exploring options to change their banking solution provider. This underscores the growing demand for embedded financial services in the local SMB sector.

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Local SMBs in Singapore show demand for embedded finance solutions SMBs need more tech-driven financial solutions In a recent survey by Airwallex, it was revealed that a staggering 75% of small and medium-sized businesses (SMBs) in Singapore are actively seeking a banking solution provider that offe...

Pawnshops in Singapore provide a convenient option to sell or pawn items when you're in need. Offering fair prices that ...
06/11/2023

Pawnshops in Singapore provide a convenient option to sell or pawn items when you're in need. Offering fair prices that you can negotiate, these establishments ensure you leave with cash in hand even if you have bad credit.
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Pawnshops 101 Ever found yourself going through your possessions hoping to find something valuable to sell for quick cash? Maybe you've hit a financial rough patch and need to pay off some bills or cover an unexpected expense. Whatever your reason is, pawnshops in Singapore can provide a solution to...

In Singapore, the Housing and Development Board (HDB) offers a range of housing grants to assist prospective homebuyers....
31/10/2023

In Singapore, the Housing and Development Board (HDB) offers a range of housing grants to assist prospective homebuyers. Whether you’re purchasing a new or resale flat, exploring these HDB grants can be a game-changer for individuals and families looking to fulfil their homeownership dreams.
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HDB Housing Grants 101 The Housing and Development Board (HDB) plays a crucial role in providing affordable and quality housing for its residents. To further assist homebuyers, the government offers various HDB housing grants that aim to make homeownership more accessible and affordable. These grant...

Struggling with your credit card bills? Consider balance transfer loans as the ultimate solution. Discover how these loa...
26/10/2023

Struggling with your credit card bills? Consider balance transfer loans as the ultimate solution. Discover how these loans can help you regain control of your finances and ease the burden of high-interest debts
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The Best Balance Transfer Loans For You Like many people, you might have found yourself accumulating substantial debt over the past few years. In an effort to manage your financial obligations, you may be looking for the best balance transfer loans in Singapore. But with so many options available, i...

From January through August, Singapore witnessed a significant loss of at least S$20 million due to malware scams. Inves...
26/10/2023

From January through August, Singapore witnessed a significant loss of at least S$20 million due to malware scams. Investigative program "Talking Point" delved into the intricacies of these deceptive schemes, shedding light on why both Android and iPhone users need to be vigilant.
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What you need to know about malware SINGAPORE: Junia Tan wanted something simple - a tasty fried chicken dinner with free delivery, just as advertised on Facebook. However, what appeared to be a straightforward transaction took a dangerous turn when she was required to download an app for payment. T...

Short-term loans offer borrowers a convenient solution for their financial needs. Whether you're facing low savings, a m...
23/10/2023

Short-term loans offer borrowers a convenient solution for their financial needs. Whether you're facing low savings, a medical emergency, or sudden job loss, the best short-term loans will give you the flexibility to fill your financial gaps without hassle.
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Short Term Loan 101 Even the most organised and responsible individuals can find themselves facing unexpected money problems. In challenging times like these, a solution you can try is a short-term loan. This offer is a reliable solution that will save you when you need it most. Here at OMY Singapor...

Personal loans serve a ton of purposes - from financing vacations, covering unexpected medical expenses, and even paying...
20/10/2023

Personal loans serve a ton of purposes - from financing vacations, covering unexpected medical expenses, and even paying off credit card debt. When done right, this strategic move may help you avoid high-interest credit card balances.
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Should You Pay Off Your Credit Card Debt With A Personal Loan? If you're feeling overwhelmed by credit card debt, you're not alone. After all, it's easy for those high-interest payments to become a never-ending cycle. Thankfully, there are ways to say goodbye to your credit card debt Singapore faste...

On 17 October, 530 hotspots were observed in southern and central Sumatra. This is significantly more than the 285 hotsp...
19/10/2023

On 17 October, 530 hotspots were observed in southern and central Sumatra. This is significantly more than the 285 hotspots identified on the previous Monday.
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Singapore anticipates moderate PSI levels amid haze concerns Singapore is likely to not experience haze, even with a surge in the number of hotspots detected in Sumatra. According to the National Environment Agency (NEA), the dry weather prevailing across most of the surrounding region has contribut...

The percentage of Singaporeans anticipating a decrease in inflation has dipped to 49.5% in September, down from the 51% ...
19/10/2023

The percentage of Singaporeans anticipating a decrease in inflation has dipped to 49.5% in September, down from the 51% recorded in June.
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44% of Singaporeans expect inflation to increase within the next 12 months The Singapore Index of Inflation Expectations Survey (SinDEx) by DBS and the Singapore Management University (SMU) highlighted a noticeable shift in the expectations of Singaporeans regarding inflation in the coming year. The...

The e-CaseTrust scheme will equip online retailers and service providers with the tools to outperform competitors by pri...
18/10/2023

The e-CaseTrust scheme will equip online retailers and service providers with the tools to outperform competitors by prioritising pro-consumer policies for managing customer complaints, refunds, and disputes.
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e-CaseTrust scheme launched to help with the increasing complaints from Singaporean consumers The Consumers Association of Singapore (CASE) has launched a new initiative, the CaseTrust Accreditation Scheme for E-businesses. This aims to help consumers identify online businesses that prioritise consu...

The National Environment Agency (NEA) recently issued an advisory indicating a potential for slight haze in Singapore on...
18/10/2023

The National Environment Agency (NEA) recently issued an advisory indicating a potential for slight haze in Singapore on 17 October. This situation is expected to improve as rain is forecasted to increase on Wednesday, reducing the likelihood of haze.
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Singapore experiences haze once more Although haze can be seen in Singapore on Tuesday, there will be a reduced likelihood of it on Wednesday due to more rain forecast. Scattered showers are expected in the Lion City, while the surrounding region will continue to experience dry conditions. What caus...

Whether you're in the middle of a financial crisis or just need a little bit of extra cash to get you by, emergency loan...
15/10/2023

Whether you're in the middle of a financial crisis or just need a little bit of extra cash to get you by, emergency loans can be the perfect solution. Keep on reading to discover everything you need to know about taking out an emergency loan in Singapore.
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Emergency Loans 101 Life is full of surprises. One minute, you feel like you've got your finances under control, and the next, unexpected expenses come knocking at your door. It's moments like these when you need to know how to secure an emergency loan in Singapore as soon as possible. Nobody wishes...

According to Research on Successful Ageing (ROSA), only 27.83 % have a “robust retirement plan.” Meanwhile, the remainin...
12/10/2023

According to Research on Successful Ageing (ROSA), only 27.83 % have a “robust retirement plan.” Meanwhile, the remaining 50% have a retirement plan.

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Government initiatives to help retirement adequacy of older Singaporeans A recent study conducted by ROSA shed light on the retirement preparedness of young seniors in their 50s and early 60s, indicating that a significant portion of this demographic still lacks a robust retirement plan. More from O...

Are you planning to take out a personal loan? If so, using a personal loan calculator in Singapore to determine your mon...
12/10/2023

Are you planning to take out a personal loan? If so, using a personal loan calculator in Singapore to determine your monthly payments is a smart move. Not only will it give you a better understanding of the loan terms, but it will also help you find the best option for your financial situation.
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What makes personal loan calculators so important? Nowadays, applying for loans has become an essential part of most people's lives. Whether it's for financing a dream vacation, buying a new car, or consolidating debt, personal loans can help us achieve our financial goals. But despite its undeniabl...

Singapore leads the Southeast Asian FinTech landscape, securing $161 million in funding during 3Q23. This makes up a who...
10/10/2023

Singapore leads the Southeast Asian FinTech landscape, securing $161 million in funding during 3Q23. This makes up a whopping 70% of the region's total FinTech funding.
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Singapore, Jakarta, Bangkok, Ho Chi Minh, and Hanoi lead SEA funding in 3Q23 The Lion City has emerged as the frontrunner among Southeast Asian cities in terms of FinTech funding, securing an impressive $161 million in the third quarter of 2023 (3Q23). More from OMY: Singapore emerges as Asia’s to...

The amount offered is at S$1 billion.Discover more👇
05/10/2023

The amount offered is at S$1 billion.
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MAS releases new SSB The Monetary Authority of Singapore (MAS) just revealed exciting news for investors with the introduction of the GX23110V Savings Bond, boasting an attractive annual average yield of 3.32%. With a tenor stretching over a decade, this bond is set to get the attention of investors...

If you're borrowing money for the first time, it's essential to understand the different considerations that come with a...
05/10/2023

If you're borrowing money for the first time, it's essential to understand the different considerations that come with a loan. One of them is loan tenure. But did you know choosing the perfect loan tenure is more than just selecting the shortest or longest one? This guide will help you decide the best loan term for you.
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Loan Tenure 101 In an ideal world, everyone would have enough money for all their needs. But in reality, many of us must borrow to achieve our goals. Banks and financial institutions provide tons of loan options with varying interest rates and timeframes. Unfortunately, this can be very confusing fo...

A recent study by UnaFinancial revealed that Singapore is set to lead the region in fintech investment, contributing a s...
04/10/2023

A recent study by UnaFinancial revealed that Singapore is set to lead the region in fintech investment, contributing a substantial 3.56% of the Southeast Asian gross domestic product (GDP) by 2027.

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SEA fintech sector shows promising outlook A recent study by UnaFinancial revealed that Singapore is set to lead the region in fintech investment, contributing a substantial 3.56% of the Southeast Asian gross domestic product (GDP) by 2027. More from OMY: Singapore emerges as Asia’s top fintech hu...

The tourism and travel sector is expected to grow at a 10-year CAGR of 5% to US$15.5 trillion in 2033. Discover more 👇👇👇
02/10/2023

The tourism and travel sector is expected to grow at a 10-year CAGR of 5% to US$15.5 trillion in 2033.
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Hospitality REITs in Singapore are set to ride the wave of tourism. Hospitality REITs, specifically Far East Hospitality Trust (FEHT), CapitaLand Ascott Trust (CLAS), and CDL Hospitality Trusts (CDREIT), are poised for substantial gains as leisure and business travel normalise, accompanied by the re...

In an effort to help Singaporeans, the government launched an additional S$1.1 billion support package.Discover more 👇👇👇
02/10/2023

In an effort to help Singaporeans, the government launched an additional S$1.1 billion support package.

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SG increases cost-of-living support measures Under the new initiative, eligible Singaporeans will receive additional cash payouts of up to S$200, while households will have their Community Development Council (CDC) vouchers increased by S$200. Deputy Prime Minister Lawrence Wong announced these meas...

Singapore has once again reaffirmed its status as the world's foremost maritime hub, marking an impressive 10th consecut...
02/10/2023

Singapore has once again reaffirmed its status as the world's foremost maritime hub, marking an impressive 10th consecutive year at the top.

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SG’s maritime growth geared towards creating more quality employment Singapore outshone 43 other global maritime centres and retained its prestigious title as the world’s best maritime centre, according to the latest Xinhua-Baltic International Shipping Centre Development (ISCD) Index. The ISCD ...

Take a look at the types of personal loans available to you in Singapore and learn when and how to leverage them effecti...
28/09/2023

Take a look at the types of personal loans available to you in Singapore and learn when and how to leverage them effectively.

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Personal loans you can apply for in Singapore Life constantly throws surprises our way. Some delightful, but others, well, not so much. In Singapore, most people share this common experience: the occasional need for extra funds when life takes an unexpected turn. Whether it's a medical emergency, a....

Players in the digital banking space are racing for who will have the biggest market share.Discover more 👇👇👇
28/06/2023

Players in the digital banking space are racing for who will have the biggest market share.
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Digital banks aim to roll out more offers soon As the Monetary Authority of Singapore approves more digital banks, traditional banks are starting to improve their offer to get a fair market share in the digital banking space. For instance, account opening for digital bank trust can be done entirely....

Dealing with money changers in Singapore can be confusing. If you don’t know what to do, you may just end up scratching ...
07/06/2023

Dealing with money changers in Singapore can be confusing. If you don’t know what to do, you may just end up scratching your head and wondering where a huge chunk of your money went. This is why we’ve compiled a guide to what you need to know before going to a money changer.

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Money Changer Tips You Must Remember There’s no denying that currency exchange rates are crucial to many people's lives, mostly because it affects the value of money they spend or receive. Whether you’re a tourist visiting Singapore, or you’re getting remittances from abroad, knowing the ins a...

The Singapore FinTech Festival 2023 will be held from 15 to 17 November. It will be focusing on the growth and adoption ...
07/06/2023

The Singapore FinTech Festival 2023 will be held from 15 to 17 November. It will be focusing on the growth and adoption of AI

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SFF to focus on the growth and adoption of AI The year’s Singapore Fintech Festival will put a heavy emphasis on AI, and how it can be used in financial services. The festival is co-organized by Elevandi and the Monetary Authority of Singapore, in partnership with The Association of Banks in Singa...

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