Total of 6 local commercial bank

1. OCBC2. DBS3. UOB4. Singapore Island bank (owned by OCBC)5. Far Eastern bank limited (owned by UOB)6. Bank of Singapore limited (owned by OCBC)

Typically, the banks categorizes as a personal and business loan.

Personal Loan

- Personal Cash

- Car

- Education

- Property

- Investment

Business Loan

- Overdraft (Cash)

- Business Properties

o Factory Space

o Office

- Equity (working capital)

o Cash Flow

- Commercial Equipment

o Machinery

o Company Vehicles

Differences between merchant bank, finance company & insurance company

Merchant Bank

Merchant banks are banks that mostly deals in international finance provide long-loans for companies and underwriting. They specialize in providing services to Multi-national Corporation due to their deep expertise in the international finances market.

Much different to a commercial bank, they do not provide regular banking services to the public. There are 47 registered merchant banks in Singapore.

Example1. Credit Sussie (Singapore) Limited2. J.P. Morgan (S.E.A) Limited3. Bank of America Limited

Finance company

It provides loans as entity to individual or companies by extending credit. It is different from banks as it does not accept deposits from the public and instead, it may draw funding from bank or other money resources to extend credit to their customers.

Example1. Hong Leong Finance2. Sing Investment and Finance3. Singapura Finance

Insurance company

A company that offers insurance policies to the public, either by selling directly to an individual or through another source such as an employee's benefit plan. An insurance company is usually comprised of multiple insurance agents.

An insurance company can specialize in one type of insurance, such as life insurance, health insurance, or auto insurance, or offer multiple types of insurance.

There are a total of 152 of registered insurers in Singapore.

Example1. AIA 2. Great Eastern3. NTUC Income