Strikingly, there was a 64% surge in applications from middle- and high-income earners with annual incomes exceeding $84,000.
SINGAPORE: A recent survey has unveiled a significant increase in the number of middle-aged individuals in Singapore applying for personal loans, reflecting the escalating pressures of living costs.
The primary reasons for these loan requests are to manage household expenses, cover medical costs, and settle credit card debts. More strikingly, there was a 64% surge in applications from middle- and high-income earners with annual incomes exceeding $84,000.
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