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Individuals can apply to defer property loan, insurance premium payments amid COVID-19: MAS

www.channelnewsasia.com

SINGAPORE: Home owners facing financial pressure amid the COVID-19 outbreak will soon be able to apply to defer repayments for their residential property loans until Dec 31 this year.

This option applies to either the principal payment, or both the principal and interest payments. Interest will accrue only on the deferred principal amount, which means that no interest will be charged on the deferred interest payments, said the Monetary Authority of Singapore (MAS) on Tuesday (Mar 31).

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