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Debt Consolidation Plan (DCP) Loan Tenure Extension

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Debt Consolidation Plan (DCP) Loan Tenure Extension

Debt Consolidation Plan (DCP) Loan Tenure Extension

Apply to extend your existing DCP loan tenure for up to 5 years to help lower your monthly instalment repayment.

We are here to help you tide over this stressful period as we know individuals and small businesses in Singapore are facing unprecedented challenges in the near to long term.

From 18 May 2020 to 30 September 2021, you can apply to extend your existing DCP loan tenure for up to 5 years to help you lower your monthly instalment repayment.

The DCP Loan Tenure Extension is applicable for existing DCP clients who have monthly repayments that are past 30 to 89 days due at the point of application. Please note that your application will be subject to the Bank’s internal review and approval and Terms and Conditions apply.

Click here to apply or call us at +65 6747 7000

We are here to help you tide over this stressful period as we know individuals and small businesses in Singapore are facing unprecedented challenges in the near to long term.

From 18 May 2020 to 30 September 2021, you can apply to extend your existing DCP loan tenure for up to 5 years to help you lower your monthly instalment repayment.

The DCP Loan Tenure Extension is applicable for existing DCP clients who have monthly repayments that are past 30 to 89 days due at the point of application. Please note that your application will be subject to the Bank’s internal review and approval and Terms and Conditions apply.

Click here to apply or call us at +65 6747 7000

FAQs

  • If you are facing cash flow constraints during this difficult period and have difficulties repaying your DCP loan, extending your DCP loan tenure can help reduce your monthly repayments.

    However, please note that an extension of your DCP loan tenure will increase the total interest payable over your entire DCP loan tenure. Hence, we encourage you to consider this only if you need some relief on your monthly debt obligations.

  • From 18 May 2020 to 30 September 2021, you may apply for an extension of your loan tenure for up to 5 years as per your preference.

  • The DCP Loan Tenure Extension is applicable for existing DCP clients who have monthly repayments that are past 30 to 89 days due at the point of application. Please note that your application will be subject to the Bank’s internal review and approval and Terms and Conditions apply.

  • Upon receiving your application, you should be contacted by the Bank within 5 – 7 working days.

  • No, there are no administrative fees for processing the application as the Bank understands the difficulty you are facing.

  • You will not be able to use your credit card with the Bank after taking up this relief programme.

  • The DCP Loan Tenure Extension relief programme will not be reflected as a restructured loan in your credit bureau report. Only a brief narrative description will be uploaded to indicate your participation in the programme.

  • The record is for analytics purpose as all credit bureau information is important to financial institutions for understanding of consumers’ credit behaviour and refinement of their target market strategy. The Bank may leverage on some of this information to provide appropriate financial advisory or tailor make suitable financial products for their customers given short term financial condition of the individual due to Covid-19 situation.

  • The narrative is akin to a “footnote” in the credit bureau report. It will be reported by the Bank once the DCP Loan Tenure Extension is taken up.  The narrative consists of information which represents product type, the last payment status, start date and end date of the relief programme.

  • No, the DCP Loan Tenure Extension related narratives will be removed upon closure of the underlying account / at the end of the program, whichever is earlier.

Terms and Conditions