Repayment/Payment Assistance

For Individual Mortgage/Secured Financing Customers

• Features: 6-month automatic deferment for loan repayment / financing payment. During this time, customers need not make any payments, and no late payment charges or penalties will be imposed.
• Eligibility:
  • Individual customers with loan/financing amount not exceeding 90 days as at 1 April 2020 will be automatically included. No application required.
  • For eligible customers who do not wish to participate in this relief support package, please continue with your payments per your Standing Instruction. No application required.
• Others: Instalment amounts will remain the same after the Moratorium.

Click here for Covid-19 Post Moratorium Financial Relief Measures

For Credit Card & Personal Financing Customers

• Features: A Relief Assistance Programme offered to our Credit Card & Cash Financing-i customers to help lessen the financial burden you may face during these challenging times.
• Eligibility:
  • Credit Card: All OCBC Credit Cardholders
  • Personal Financing:
    1. All OCBC Cash Financing-i account holders whose loan accounts have no outstanding amount exceeding 90 days as at 1 April 2020 will be automatically included. No application is required.
    2. Customers who are eligible for automatic conversion but wish to opt out of the programme should submit their request using this form.
• Others: Customer who have both our Credit Card and Cash Financing-i facilities are required to submit details for each facility separately as the eligibility criteria and processes are different.

For SME Customers

• Features: Introducing several SME Financial Relief Measures to help lessen the financial burden of our SME customers.
  • A 6-month automatic moratorium on all repayments of business loans/financing, including principal and interest/profit to eligible SME customers with no outstanding amount exceeding 90 days as at 1 April 2020. The option to opt out of the automatic moratorium must be exercised by 10 April 2020.
  • Special Relief Facility from Bank Negara Malaysia at a financing rate of up to 3.50% p.a. Application open to all existing SME customers of OCBC Bank.

For Insurance/Takaful Customer

• Features: A deferment of insurance premium/contribution for 3 months for Life Insurance /Takaful.
• Application is required as deferment is not automatic.
• Eligibility:
  • Policyholders/Certificate holders who have been infected, are under mandatory home quarantine or have suffered loss of income as a result of the economic impact of COVID-19.
  • Policy premium/certificate contribution due from 18 March 2020 to 31 December 2020 (both dates inclusive).
  • Premium/contribution has been paid up to current due date as at 18 March 2020.
  • Regular premium/contribution paying policy/certificate.
• Upon approval, the policy/certificate shall remain in-force and the Insurance/Takaful Operator will continue to provide the protection coverage stated in the policy/certificate.

For Trade Customers

• Features: Automatic moratorium on settlement of all trade loans/financing for 6 months to help our Trade Customers with temporary cashflow difficulties amidst the COVID-19 outbreak.
  • Automatic extension for all trade products except Bankers Acceptance (BA) and Islamic products such as Accepted Bills-i (AB-i)/Trust Receipt-i (TR-i)/Local Bill Purchase-i (LBP-i) that need to be converted to a temporary Invoice Financing/Invoice Financing-i (IF/IF-i) respectively to extend the maturity date.
  • Valid for all trade loans/financing outstanding as at 1 April 2020 (inclusive of those newly created on 1 April 2020)