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Singaporean banks now accept CPF Life payouts as income proof for seniors' credit card applications.
Three major Singaporean banks, DBS, UOB, and OCBC, will recognize CPF Life payouts as income proof for credit card applications for individuals aged 65 and above.
Starting June 11, DBS and OCBC will implement this policy, with UOB to follow shortly.
CPF Life provides monthly payouts from retirement savings, and this move aims to ensure seniors have fair access to credit and associated benefits.
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Los bancos singapurenses ahora aceptan los pagos de CPF Life como prueba de ingresos para las solicitudes de tarjetas de crédito de personas mayores.