More Singaporeans taking multiple loans: Credit Bureau
Amount of debt per borrower has also risen from 5 years ago: Credit Bureau
Singaporeans are not only loading up on more and more debt these days but increasing numbers are taking out two or more loans.
The data comes from the Credit Bureau Singapore (CBS), which has found that going into the red is no longer the daunting move it once was, thanks in part to rock-bottom interest rates.
The CBS said the average amount of debt per borrower is well up compared with five years ago, as is the proportion of borrowers who have more than one loan.
Its findings shed more light on aggregate data recently released by the Monetary Authority of Singapore (MAS) as well as reports by banks and other organisations.
MORE IN DEBT
Borrowers with at least two mortgages and other loans
Mortgage holders with at least one other debt