Overview
MAS has worked with financial institutions in Singapore to offer relief packages to support individuals facing financial difficulties due to the COVID-19 pandemic.
Helping Individuals Transit to Full Loan Repayments
Measures include reduced instalment plans for property loans, loan tenure extension for renovation and non-MOE student loans, and extended assistance for personal unsecured credit and debt consolidation plan. Applications have closed on 30 September 2021.
Helping Individuals Ease Financial Difficulties
These measures have mostly expired on 31 December 2020, except for the extended assistance for personal unsecured credit, debt consolidation plan, waiver of debt servicing requirements for refinancing or repricing of investment property loans, and flexible instalment plans for general insurance.
Easing Cashflow
Defer and extend repayment, defer premium payment and flexible instalment plans.
Reducing Debt Obligations
Lower interest on personal unsecured credit and easier refinancing or repricing of investment property loans.
Ensuring Access to Basic Banking Services
Waive fall-below service fees and failed GIRO deduction charges for retail bank accounts.
Frequently Asked Questions
Read the FAQs on the measures introduced by MAS and the financial industry to help individuals affected by the COVID-19 pandemic.
Infographics
Enquiries
If you have further queries on MAS’ and the financial industry’s support measures, please email webmaster@mas.gov.sg .