Singapore Banks Ease Burden on Borrowers

Local lenders in Singapore are offering consumers and small businesses relief during the current crisis; this includes a freeze on mortgage and business loans along with cuts on credit card interest rates; banks and other institutions are able to defer principal and interest payments on mortgages through the end of the year according to the Monetary Authority of Singapore; small businesses are able to defer principal payments until year end as well; Over $28 billion in loans to small businesses are expected to qualify for the new plans; Bloomberg shares other news happening in the region related to the coronavirus. Bloomberg

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