The recent statistics released by The Monetary Authority of Singapore (MAS) has indicated that consumer debts are climbing at an alarming rate. Hopefully, the following figures extracted from the report will remind errant borrowers in Singapore to seek debt management help and stop buying things on credit.
Total Consumer Debt in Singapore (Up by 12%)
Aug 2008: S$111,713.2 Million
Aug 2007: S$99,869.6 Million
Top 3 Fast Growing Debt Category
Credit Cards Loans (Up by 22%)
Aug 2008: S$5,084.2 Million
Aug 2007: S$4,176.3 Million
Other Consumer Loans (Up by 20%)
Aug 2008: S$15,976.9 Million
Aug 2007: S$13,298.0 Million
Housing Loans (Up by 12%)
Aug 2008: S$77,084.4 Million
Aug 2007: S$69,122.3 Million
Total Owed by Credit Card Holders who Pay Minimum Amount of Outstanding Bill
Credit Card Rollover Balance (Up by 17%)
Aug 2008: S$3281.1 Million
Aug 2007: S$2814.5 Million
View full statistics from (MAS Monthly Statistical Bulletin) September 2008 Vol 29 No 9 [PDF]
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