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Special Financial Relief Programme (SFRP)

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Special Financial Relief Programme (SFRP)

Special Financial Relief Programme (SFRP)

Convert outstanding credit card balance and unsecured loans to a low-cost term loan to help reduce their existing debt burden – Special Financial Relief Programme (SFRP)

As the Novel Coronavirus (COVID-19) situation persists, individuals and small businesses in Singapore are facing unprecedented challenges in the near to long term.

We are here to help you tide over this stressful period.

From 6 April 2020 to 31 December 2020 we will offer impacted clients with outstanding credit card balances and unsecured loans, a low-cost term loan to help reduce their debt burden.

This SFRP will cover the following borrowers who have been impacted due to the outbreak of this pandemic.

  • Opt-in basis for borrowers who are impacted by Covid-19 (at least 25% loss of income after 1 February 2020) and
  • Whose repayments are between 30 and 89 days past due at the point of application
  • Singapore Citizen or Permanent Resident
  • Not on any existing debt repayment or restructuring programmes with the bank or card issuer i.e. DCP/DMP/RAS/DRP.

* For impacted clients on request. Subject to approval. Terms and conditions apply

As the Novel Coronavirus (COVID-19) situation persists, individuals and small businesses in Singapore are facing unprecedented challenges in the near to long term.

We are here to help you tide over this stressful period.

From 6 April 2020 to 31 December 2020 we will offer impacted clients with outstanding credit card balances and unsecured loans, a low-cost term loan to help reduce their debt burden.

This SFRP will cover the following borrowers who have been impacted due to the outbreak of this pandemic.

  • Opt-in basis for borrowers who are impacted by Covid-19 (at least 25% loss of income after 1 February 2020) and
  • Whose repayments are between 30 and 89 days past due at the point of application
  • Singapore Citizen or Permanent Resident
  • Not on any existing debt repayment or restructuring programmes with the bank or card issuer i.e. DCP/DMP/RAS/DRP.

* For impacted clients on request. Subject to approval. Terms and conditions apply

Key features of this term loan:
  • Tenure up to 5 years
  • Effective interest rate capped at 8% p.a.
  • Monthly Instalment capped at 3% of total loan amount, unless borrower requests for higher monthly Instalment amount
  • No early repayment penalty

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

  • Tenure up to 5 years
  • Effective interest rate capped at 8% p.a.
  • Monthly Instalment capped at 3% of total loan amount, unless borrower requests for higher monthly Instalment amount
  • No early repayment penalty

Borrowers’ credit facilities with the bank will be suspended. Suspension will be lifted upon full repayment of term loan, at which time the bank can grant new unsecured credit facilities to the borrower (i.e. treated like any new customer).

CBS tagging will reflect a normal unsecured facility. i.e. not restructured

For more details on the Special Financial Relief Programme,

Call us

Call our phone banking team hotline for immediate assistance +65 6747 7000

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Terms and Conditions