The Covid-19 virus had hit us hard.



In the next month, most business in Singapore will shut down. Undoubtablely, it will impact almost everyone. During this period, one of the main concern for many will be cashflow. With mortgage payments forming the largest chunk of negative cashflow for many, having income reduced or a loss of a job would mean added stress to the individual and households struggling to make ends meet.


To mitigate this, MAS had allowed individuals to approach banks to defer mortgage payments.
People with home loans can defer either the principal payment or both principal and interest payments on their property loans until Dec 31.


Since the Circuit Measures call for everyone to restrict movement to essentials, you can now visit the banks website to process your request


Bank of China
No mention of criteria

Bank of China link


Citibank

Criteria
For existing borrowers with mortgage repayments that are no more than 90 days past due

Hong Leong Finance Link

Maybank

Criteria
Singaporeans or Singapore PR.
Existing Maybank housing loan
Home account not in arrears for more than 90 days as at 6 April


Maybank Link

OCBC
No mention of criteria

OCBC Link

Singapura Finance
Criteria
Opt in basis, for borrowers with mortgage repayments of no more than 90 days past due as of 6 Apr

Singapura Finance Link


SCB
Exiting mortgage clients who are impacted by recent COVID-19, all requests subject to review

SCB Link

UOB
Criteria
For borrowers with mortgage repayments of no more than 90 days past due as of 6 Apr

UOB Link

Other banks with housing loan facilities
The following banks do not have the waiver online, you can contact them directly to enquire


CMIB - +65 6333 7777

HSBC -1800 472 2669

RHB - 1800 323 0100



Procedures may vary from Bank to Bank. Do check with your respective banks on procedures, terms and conditions. Do note that deferment of housing loan will probably lead to higher repayment on a later date. Do this as a last resort if your cash flow cannot meet your needs.