Any recommendations for Covid19 loan deferment schemes?

Hi Anon,

The loan deferment schemes across all banks are generally similar, and you can make your choice depending on the bank you prefer.

According to the MAS Financial Support for Individuals,

1) Renovation Loan

You can apply to defer both principal and interest payment till 31 Dec 2020. Interest will continue to accrue on the outstanding loan principal, but additional interest will not be charged on the deferred interest payments. Lenders will only approve the request if you are not in arrears for more than 90 days at point of application.

2) Car Loan

You should approach your bank or lender to discuss suitable repayment plan.

For your case, here are some banks that provide such services. I have embedded the links on the different banks and you may click on them to find out more.
1) OCBC: Renovation Loans and Car Loans Relief

2) DBS: Renovation Loan Payment Relief

3) Maybank: Renovation Loan Repayment Relief

4) CIMB: Renovation Financing

5) UOB: Car Loans Relief

To understand more about loan deferments and MAS Financial Support Measures, you can refer to an article by Seedly here.