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We are here for you
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. We are introducing the following relief measures for our clients who ask for financial assistance, due to the impact of the virus outbreak.
Dwaipayan Sadhu, Head of Retail Banking, Singapore, said: “We understand this can be a stressful time for everyone and we want to help our clients alleviate some financial burden in the short term, if they need it during this period. We continue to be with our clients through good times and bad, as we have over the last 160 years in Singapore.
We are here for them.”
The following relief measures are for our impacted clients upon request:
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. We are introducing the following relief measures for our clients who ask for financial assistance, due to the impact of the virus outbreak.
Dwaipayan Sadhu, Head of Retail Banking, Singapore, said: “We understand this can be a stressful time for everyone and we want to help our clients alleviate some financial burden in the short term, if they need it during this period. We continue to be with our clients through good times and bad, as we have over the last 160 years in Singapore.
We are here for them.”
The following relief measures are for our impacted clients upon request:
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Services
|
Description
|
|---|---|
| CashOne fee waiver for loan extension | Clients who are looking to extend the tenure of their cashone personal loan can enjoy a S$50 fee waiver, applicable to clients with good account standing. Clients can extend their loan tenure to a maximum of 60 months. This does not apply to any reduction in loan tenure. |
| Credit Cards and Credit Card Funds Transfer – waivers of late payment fee and late interest charges | Late payment fees and late interest charges will be waived for clients affected by Covid-19.
(Only valid from 13 February to 31 July 2020) |
| Reduced fee on EasyPay instalment plan for hospital & medical charges | Clients who convert their hospital and medical charges to an EasyPay instalment will have their one-time fee reduced from 5% to 2% (of the bill amount)
Subject to a minimum of S$500 per transaction. |
From 6 April 2020 to 31 December 2020 we will offer impacted clients with Outstanding credit card balances or personal credit line, a low-cost term loan to help reduce their debt burden.
This Special Financial Relief Programme (SFRP) will cover the following borrowers who have been impacted due to the outbreak of this pandemic. Find out more here.
From 6 April 2020 to 31 December 2020 we will offer impacted clients with Outstanding credit card balances or personal credit line, a low-cost term loan to help reduce their debt burden.
This Special Financial Relief Programme (SFRP) will cover the following borrowers who have been impacted due to the outbreak of this pandemic. Find out more here.
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Services
|
Description
|
|---|---|
| Late fee and default fee waivers |
Late and default fees will be waived upon request. This is applicable to late payments for monthly instalments from December 2019 onwards. |
| Repricing fee waivers |
Repricing fee will be waived for clients who wish to reduce their interest rates. |
| Defer repayment of principal | We can defer your principal repayments till 31 December 2020. |
| Defer repayment of principal and interests | We can defer your full monthly instalments till 31 December 2020. |
| For more details on our relief measures for Retail Mortgages, please visit our FAQs here. | |
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Services
|
Description
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|---|---|
| Principal Moratorium | Existing clients1 with Business instalment Loans and Business Property Loan2
can apply for Principal Moratorium of up to a maximum of 6 months. 2 from now till 31 Dec 2020, eligible existing Business Property Loan clients can choose to defer payment of principal and pay only interest, with tenor extension option per the corresponding principal deferment period. Eligibility clients are with their loan repayment of no more than 90 days past due as at 6 Apr 2020. 1 from now till 30 June 2020, further extension is subject to bank’s discretion. |
| Business Banking Loan Extension |
Existing clients with Business Banking Instalment e.g. BIL and Business Property Loan can apply for loan tenor extension to lower monthly obligations. |
| Waivers of Business Banking late fees and related charges |
Clients can request for a waiver of late fees and related charges (such as restructuring cost etc.) for a period of up to 6 months. |
| Trade bill tenure extension |
Existing clients with trade facilities experiencing delayed trade payments can request for bill maturity extension for up to 90 days. |
| Loan against property | Clients with existing commercial mortgage can improve their cashflow via an additional loan or overdraft against their property. |
For impacted clients on request. Subject to approval. Terms and conditions apply
For impacted clients on request. Subject to approval. Terms and conditions apply
Continue to bank and manage your finances while you stay safe at home. Access our digital services via Online Banking and the SC Mobile App. If you have a request or query that require our assistance, simply submit a service request.
Our branches continue with normal operating hours. If you still require assistance at our branches, we have stepped up our precautionary measures that include safe distancing, temperature screening and regular sanitising.
Continue to bank and manage your finances while you stay safe at home. Access our digital services via Online Banking and the SC Mobile App. If you have a request or query that require our assistance, simply submit a service request.
Our branches continue with normal operating hours. If you still require assistance at our branches, we have stepped up our precautionary measures that include safe distancing, temperature screening and regular sanitising.