About nine in 10 households received between $100,000 and $300,000 in proceeds, the spokesperson said. 

Individuals aged 65 and above can do so when they apply for a DBS or OCBC credit card from June 11, while UOB plans to implement the policy in the near future.

As the entities operating the two platforms do not hold the requisite licence, they are prohibited from carrying out such businesses, said the MAS and the police.

It was the lowest level that yields have hit in the year to date and marked the sixth consecutive issuance since Mar 26 for which yields have declined.

Three-month MAS bills offer yield of about 13 basis points over similar-tenor US government debt when currency-hedging costs are taken into account

With the revision, account holders now earn a bonus interest rate of 1.5 per cent a year when they spend at least S$1,000 monthly with eligible credit and debit cards, up from 1 per cent.

Some industry insiders said the move could deal a blow to the dominance of existing players like Income Insurance.

The Singdollar has strengthened 6 per cent to 7 per cent against a weakening US dollar in 2025 – the strongest year-to-date performance in the last 20 years.

This means that regular income is still preferred for paying bills. Hence, banks “may consider various up-to-date income sources, such as a borrower’s rental income and annuity payouts”,

The cost to renew a COE is based on the average COE premium in the three preceding months. A five-year COE renewal costs half as much as a 10-year one.

Businesses in the hotels, restaurants and accommodation, health and social services as well as retail trade sectors showed high pessimism about economic prospects for the next 12 months

A liabilities-to-assets ratio of 11 per cent means that 11 per cent of a household’s assets are financed by debt. If the ratio is falling, then increasingly fewer assets are being financed by debts.