Extended Support Scheme (ESS) - Commercial Property Loan for Individuals
Application Process
- Complete one form for each loan account.
- Application is submitted by one borrower on behalf of all joint borrower(s), if applicable.
- You will receive an email within 4 working days.
- You may be required to submit income documents before approval.
Eligibility
At least 25% loss of income or loss of employment after 1 February 2020.
60% Monthly Instalment
- Monthly instalments will be reduced to 60% of your last monthly instalment amount.
- The reduced monthly instalment amount will cover part of your loan principal each month so that your loan amount is reduced.
- To help you plan your cashflow, the monthly instalment will be fixed for 9 months and will not change even though interest rate changes during the period.
Scheme Duration
- 9 months, or up till 31 December 2021, whichever period ends earlier
- Apply from now until 30 September 2021
Loan Tenure
Extended by 12 months