MOF: No extra charges for hire-purchase loan moratorium

Modified 6 May 2020, 2:20 pm

Following discussions between the Finance Ministry and the banking sector, it has been decided that a six-month moratorium for hire-purchase (HP) loans will not result in accrued interest.

This means customers who opt to defer their repayments will not need to pay larger installments once the deferment period ends...

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