Supporting SMEs through COVID-19 | OCBC Business Banking

Tailored Financial Relief Programme for Businesses

Supporting SMEs through COVID-19

To provide your business with greater cash flow flexibility, we have various options available for you to defer your principal payments on your secured and unsecured business loans.

Available Programmes

Apply to defer payments for the principal of your Secured SME loan(s) (e.g. Commercial Property Loan) if you have not missed more than 3 months of instalment payment. You can apply for a deferment period up to 31 December 2020. You may also opt to extend your loan tenure by the corresponding number of months that your principal payment has been deferred.

Defer Principal Only

Payment Deferment
  • During the deferment period, continue to pay the interest on the loan account only on each relevant due date. Late fees and charges apply.
  • Your next Principal + Interest instalment will be payable on 1st February 2021 if your deferment period is until 31 December 2020.
Instalments in 2021
  • Your next Principal + Interest instalment will be payable on 1st February 2021 if your deferment period is until 31 December 2020.
  • We will advise you on the instalment amount payable on each relevant due date after the deferment period. The instalment amount payable depends on whether you opt to extend your loan tenure.
Effective Date
  • We will inform you of the approved deferment period and new maturity date (if you opt to extend your loan tenure) via an official Notification Letter.
Payment Deferment
Instalments in 2021
Effective Date

Please note that for SME loans, only deferment of Principal instalments is available currently. You will still need to continue servicing the interest on the loan account during the deferment period.

Loan Moratorium Calculator
1
Understanding your loan
2
Deferment and/or extension of your loan
Here's what you will need to pay

Understanding your loan

Deferment and/or extension of your loan

Here's what you will need to pay

Based on the remaining loan tenor, your monthly repayment (principal +interest) after deferment period is:

S$ 0

Monthly repayment (interest only) during deferment period: S$0
Additional interest that payable during the deferment period: S$0
Loan outstanding needs to be more than the deferment period

Apply to defer payments for the principal of your Unsecured SME loan(s) (e.g. SME Working Capital Loan, Business Term Loan etc.) for a period of 6 or 12 months.

Defer Principal Only

Payment Deferment
  • During the deferment period, you continue to pay the interest on the loan account only on each relevant due date. Late fees and charges apply.
Next Principal + Interest instalment
  • Depending on the approved deferment period, you will receive an advice from us on the due date of the next Principal + Interest instalment.
Effective Date
  • We will inform you of the approved deferment period via an official Notification Letter.
Payment Deferment
Next Principal + Interest (P+I) instalment
Effective Date

Please note that for SME loans, only deferment of Principal instalments is available currently. You will still need to continue servicing the interest on the loan account during the deferment period.

Loan Moratorium Calculator
1
Understanding your loan
2
Deferment of your loan
Here's what you will need to pay

Understanding your loan

Deferment of your loan

Here's what you will need to pay

Based on the remaining loan tenor, your monthly repayment (principal +interest) after deferment period is:

S$ 0

Monthly repayment (interest only) during deferment period: S$0
Additional interest that payable during the deferment period: S$0
Loan outstanding needs to be more than the deferment period
How this works

With a principal moratorium on your loan, you will only need to repay monthly interests, without needing to repay your principal during the approved period. This will greatly reduce the cash flow burden on your business during this difficult period.

*Example is Option 1: Defer without Extension

NEED HELP WITH YOUR EXISTING LOAN?

Request for a deferment of principal payments on your business loans online today.