Supporting Individuals through COVID-19

Support measures to ease cashflow and reduce debt obligations.

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.

Latest update: On 3 June 2020, MAS announced further enhancements to the relief measures offered by financial institutions to support landlords and businesses affected by the COVID-19 (Temporary Measures) (Amendment) Bill. Find out more about Enhanced Credit Reliefs for Landlords.


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

Date Title
30 Apr 20 MAS and financial industry second support package for individuals (261.7 KB)
31 Mar 20 MAS and Financial Industry Support Measures (551.1 KB)

Related News

Date Title
3 Jun 20
 Additional Loan and Cashflow Support for Landlords and Businesses Affected by COVID-19
30 Apr 20 MAS and Financial Industry Provide Additional Support for Individuals
7 Apr 20
 MAS Clarifies Loan-to-Value and Total Debt Servicing Ratio Rules for Residential Mortgages and Mortgage Equity Withdrawal Loans
3 Apr 20 Financial Services Remain Open and Available
31 Mar 20 MAS and Financial Industry to Support Individuals and SMEs Affected by the COVID-19 Pandemic

Enquiries

If you have further queries on MAS’ and the financial industry’s support measures, please email webmaster@mas.gov.sg .