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CIMB Bank to auto-defer servicing for most commercial term loans in Singapore

Moratorium will exclude restructured and rescheduled accounts, as well as non-performing loan accounts

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Published Wed, Apr 1, 2020 · 09:50 PM

Singapore

CIMB Bank Singapore on Wednesday said it will automatically approve the deferment of principal and interest payments on most of the term loans taken up by its commercial banking customers here, a first in Singapore.

This automatic moratorium will exclude restructured and rescheduled accounts, as well as non-performing loan accounts, said a spokesman.

Monetary Authority of Singapore

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