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Banks to follow standard deferment of more consumer loans: MAS

4 types of loans covered; applicants don't need to show impact from Covid-19

Kelly Ng

Kelly Ng

Published Thu, Apr 30, 2020 · 09:50 PM

    Singapore

    FROM May 6, individuals can soon seek to defer repayment across a wider swathe of loans - such as loans for industrial and commercial property, renovation, education and cars - the Monetary Authority of Singapore (MAS) and other industry bodies said late on Thursday.

    Borrowers with industrial and commercial property loans can apply to their respective banks and financial institutions to defer their principal payments through to the end of this year. These requests will be granted as long as the loan repayments were current as at Feb 1, 2020.

    Monetary Authority of SingaporeCovid-19Singapore banks

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