Why can’t I take a Balance Transfer loan?

We are sorry to hear that. Below could be some reasons why you can’t borrow a loan:

• 1 Balance Transfer: Only 1 Balance Transfer loan can be borrowed unless otherwise allocated by the bank.
• 10 active loans: In combination with Instalment Loans, you can only borrow up to 10 loans at any one point in time from your available credit limit.
• Insufficient credit limit: You do not have sufficient credit limit to borrow a loan.
• Borrowing of a loan is in progress: You may have a loan that is pending
• Balance-To-Income (BTI): Your total interest-bearing outstanding balance on all unsecured credit facilities across all banks in Singapore exceeds the industry-wide borrowing limit for 3 consecutive months. To find out more about BTI, refer here.
• 60 days past due: Any one of your loans was unpaid for 60 days past the due date.

The bank reserves the right to suspend the borrowing of loans for any other reasons.