Document background
The Loan Verification Letter is a crucial document in Singapore's financial ecosystem, commonly required for visa applications, employment verification, or additional credit applications. It provides official confirmation of a borrower's loan arrangement, including essential details such as loan amount, payment history, and current standing. The document must comply with Singapore's strict banking regulations, including the Banking Act and MAS guidelines, ensuring confidentiality while providing necessary verification. This letter serves as a standardized way for financial institutions to communicate loan information to authorized third parties.
