Special Financial Relief Programme for Individuals with Personal Unsecured Credit

Supporting individuals through COVID-19


You can apply to OCBC to convert your existing unsecured credit balances to SFRP (Unsecured) if you:

  • are a Singapore Citizen or Permanent Resident;
  • have lost 25% or more of your income after 1 February 2020 (proof of impact on income required);
  • have not made the required minimum payment for your latest statement or more (as at application date); and
  • are not on any existing debt repayment or restructuring programmes with OCBC.

Please note that upon approval of SFRP (Unsecured), all your unsecured credit facilities with OCBC will be suspended and you will not be able to obtain new unsecured credit facilities from OCBC. Once SFRP (Unsecured) is fully paid off, you may request for uplift of suspension, subject to approval. Latest income documents would be required.


Example on how it works (for illustration purposes only):

Customer A has an outstanding balance of S$12,000 on his OCBC Credit Cards. He is also looking to better manage his monthly repayments at a lower interest cost and be able to pay off the principal amount. This is how SFRP (Unsecured) will help:

*This is assuming that Customer A does not incur any further transactions.

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Interest rate per annum


Effective Interest Rate (EIR) per annum



  1. Copy of NRIC (front and back)
  2. Supporting Documents to provide if you are a:
    1. Salaried employee:
      • Latest CPF Statement with minimum 12 months’ contribution (for applicants with monthly income of up to S$6,000); or
      • Latest month’s payslip (and any prior month payslip indicating income reduction from 1 February 2020) or Employer's letter.
    2. Non salaried employee:
      • Latest 3 consecutive months of bank statements (Please include additional months of bank statements to demonstrate decline in business cash flow from 1 February 2020, where necessary).

Loan application process for Special Financial Relief Programme (Unsecured):

Fill out form

Step 1

Fill out form

  • Fill up online form here
  • Complete all fields
  • Please also attach an image of your signature and all necessary supporting documents for us to proceed with your application

Wait for approval

Step 2

Wait for approval

The processing time for the application will take up to 10 working days, upon receipt of your completed application.

Receive notification

Step 3

Receive notification

If your application is successful, you will receive an SMS and subsequently a letter with more information, including details of your monthly repayment amount and the tenure of your SFRP (Unsecured) facility.

Additional information


Minimum payment

Monthly instalment amount plus 3% of outstanding late repayment charges or S$50, whichever is higher (if applicable)

Late repayment charges


Termination fee

Not applicable

Over the counter payment/deposit

Not applicable

Payment due date

Your SFRP (Unsecured) statement will be generated at the end of the calendar month.

The due date for SFRP (Unsecured) payment is 28 calendar days after the statement is generated (the “Payment Due Date”). If the Payment Due Date falls on a weekend or public holiday, the actual payment due date will fall on the previous business day.

Current due date New due date
Payment Due Date falls on a Saturday or a Sunday Friday before the original Payment Due Date
(assuming it is a business day)
Payment Due Date falls on a Monday and is a public holiday Friday before the original Payment Due Date
(assuming it is a business day)

What is SFRP (Unsecured)?

Special Financial Relief Programme (Unsecured) is an option that is available to help individuals reduce their overall cost of outstanding unsecured debt (by converting their outstanding unsecured debt from credit cards and other revolving credit lines into a term loan).

When can I apply for SFRP (Unsecured)?

From 6 April 2020 to 30 September 2021 (both dates inclusive).

Am I eligible to apply for this programme?
  • Singapore Citizen or Permanent Resident;
  • Customer is affected by COVID-19 and have lost 25% or more of income after 1 February 2020 (proof of impact on income required)
  • Existing credit card account or unsecured loan is between 30 and 90 days past due as at application date;
  • Customer is not on any existing debt repayment or restructuring programmes with the bank, such as Debt Consolidation Plan (DCP), Repayment Assistance Scheme (RAS), etc.
How does the SFRP (Unsecured) benefit me?
  • Loan tenor up to 5 years
  • Effective interest rate capped at 8%
Repayment period 12 months 24 months 36 months 48 months 60 months
Applied interest rate 4.27% 4.27% 4.27% 4.27% 4.27%
Processing fee 0% 0% 0% 0% 0%
Effective Interest rate (EIR%) 7.79% 7.99% 8.00% 7.95% 7.89%
  • The fixed Monthly Instalment (MI) will depend on the repayment period selected by customers
  • There is no early repayment penalty for the SFRP (Unsecured) Facility
More questions and answers