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Wilton Resources0.039+0.006
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Last Done 20.990
Change +0.120 (+0.57%)
Volume 626.1
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Related News

Banks approve 90% of applications to defer mortgage payments

28 May 2020 09:00

By Aw Cheng Wei

Banks have approved about nine in 10 applications by property buyers to defer mortgage payments.

They have also approved more than 90 per cent of applications submitted by small and medium-sized enterprises (SMEs) to defer payments on secured loans.

These deferments are part of baseline relief measures the Monetary Authority of Singapore (MAS) had introduced to help residents and companies hit by the economic fallout from Covid-19.

MAS board member Ong Ye Kung, in announcing the figures in Parliament yesterday, said the central bank "has been working with the financial industry to help individuals and SMEs with a wide range of credit relief measures, without these impacting the borrower's credit record".

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Source: Straits Times

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