> Measures to help individuals include allowing them to defer either principal payment or both principal and interest payments on their residential property loans until Dec 31 > Interest will accrue only on the deferred principal amount, and no interest will be charged on the deferred interest payments, the MAS.
Unsecured Loans: > Those with unsecured loans can also apply to their lenders to convert their outstanding balances into term loans at a reduced rate of interest, capped at 8 per cent
Insurance: > Customers of life and health insurance policies can apply to their insurer to defer premium payments for up to six months while maintaining insurance coverage. > Premium deferment is available for all individual life and health insurance policies with a policy renewal or premium due date between April 1 and Sept 30. > General insurance policyholders for property and vehicles may apply to their insurers for instalment payment plans while maintaining protection.
