• CIMB Bank - Supporting You Through COVID-19

CIMB Bank Is Still Here For You. #BankWithAHeart

As the current pandemic escalates, we understand the uncertainty and worry that you may be facing right now. Hence, we've made changes to our COVID-19 CIMB Care Package to ensure that you get the best financial assistance during this trying period.

Please know that CIMB Bank is still here for you. As the current situation evolves, we hope that the changes to our Care Package will better assist you during this difficult time. Because together, we are stronger.
 

Our Care Package Schemes
 

Defer Payment Of Your Principal OR Both Principal & Interest/Profit Till 31 Dec 2020!

For existing Property Loans customers, you may choose to defer repayment of your principal or both principal and interest till 31 Dec 20201. This applies to all property loans including both Singapore (HDB, Private and Commercial owned by individuals) and Overseas (Australia, London and Malaysia) loans.

In addition, Individuals with investment property loans that are out of the lock-in period can apply to refinance or reprice their loans, without being subjected to the total debt servicing ratio (TDSR) and mortgage servicing ratio (MSR), up to 31 Dec 2020. As such, individuals who do not meet TDSR and MSR will not need to commit to a debt repayment plan to repay 3% of their outstanding loan amount over 3 year.

Note: If the loan is still within the lock-in period, contractual penalties may apply.


Eligibility for deferment of repayment of your existing loan
:

  • For customers with mortgage repayments that are no more than 90 days past due as at 6 Apr 2020.

Additional Information:

  • Eligible customers must opt-in, in order for application to be processed.
  • Where there is deferment of principal and interest payments, interest will accrue on the deferred principal amount.
  • Customers may extend tenure of the mortgage period up to the corresponding deferment period subject to Bank's approval.
  • After the deferment period, the loan amount together with the interest accrued on the deferred principal amount will be fully amortised over the remaining loan tenure.
  • The deferment will not be reflected as a restructured loan in borrowers' Credit Bureau reports.
  • Click here to access our FAQs.

How To Apply:

OPTION 1
Please email us at sgb.cimbcare@cimb.com with the following details:

Email Subject: COVID-19 CIMB Care Package - Property Loan
Info Required:
1. Name (As per NRIC/Passport)
2. Loan Account Number
3. Your registered contact number with the Bank
4. Your preferred option:
    - Option 1: Deferment of Principal & Interest
    - Option 2: Deferment of Principal & Interest with extension of tenure
    - Option 3: Deferment of Principal Only
    - Option 4: Deferment of Principal Only with extension of tenure

OPTION 2
SMS to 75558 in the following format with your registered mobile number with the Bank:

COVIDM<space>Last 4 characters of your NRIC/Passport No.<space>Option1 (Deferment of Principal & Interest), Option2 (Deferment of Principal & Interest with extension of tenure), Option3 (Deferment of Principal Only), or Option4 (Deferment of Principal Only with extension of tenure)

e.g. COVIDM 888E Option1

Get In Touch:

 

For existing CIMB Renovation-i, Renovation & Education Financing customers, you can choose to defer repayment/payment of your principal or both principal and interest/profit till 31 Dec 20202.

Eligibility:

  • Singapore Citizens or Singapore Permanent Residents.
  • Account less than 90 days past due at date of application.
  • Click here to access our FAQs.

How To Apply:

Please email us at sgb.cimbcare@cimb.com with the following details:

Email Subject: COVID-19 CIMB Care Package - Reno/Edu
Info Required:
1. Name (as per NRIC/Passport)
2. Loan/Financing Account Number
3. Your registered contact number with the Bank

A representative will be in touch with you within 3 working days, upon receiving your email.

Convert Your CIMB Credit Card Balance To A Relief Loan!

For existing CIMB Credit Cardmembers, you can choose to spread your card outstanding balance to a relief loan of up to 5 years, if you apply between 6 Apr to 31 Dec 2020, at an interest rate of 4.25% p.a.3 (EIR: up to 7.96% p.a.).

Eligibility:

  • Singapore Citizens or Singapore Permanent Residents
  • Customers with income loss of at least 25% after 1 Feb 2020 (proof of income required).
  • Account less than 90 days past due at date of application.
  • Customer must not be on any existing debt repayment or restructuring programmes with the Bank i.e. Debt Repayment Plan (DRP), Debt Management Programme (DMP), Debt Consolidation Plan (DCP) and Repayment Assistance Scheme (RAS).

Additional Information:

  • Eligible customers must opt-in, in order for application to be processed.
  • Customers have the option to convert their outstanding unsecured debt from their CIMB Credit Card and other revolving credit lines into a relief loan with a tenure of up to 5 years.
  • There will be no early repayment penalty.
  • Borrowers' credit facilities with the bank will be suspended until full repayment of the relief loan.
  • For uplift of the suspension, customers will need to submit new documents for fresh underwriting.
  • The relief loan will not be reflected as a restructured loan in borrowers' Credit Bureau reports.
  • Click here to access our FAQs.

How To Apply:

Please email us at sgb.cimbcare@cimb.com with the following details and supporting documents:

Email Subject: COVID-19 CIMB Care Package - Cards
Info Required:
1. Name (as per NRIC/Passport)
2. CIMB Credit Card Number
3. Your registered contact number with the Bank
4. Supporting Documents:

Salaried employees / Commission-earner

- Latest CPF statement with minimum 12 months’ contribution; or,
- Employer’s letter and/or latest month’s payslip (and any prior month payslip indicating income reduction from 1 Feb 2020)

Self Employed

Latest 3 consecutive months of bank statements (please include additional months of bank statements indicating decline in business cash flow from 1 Feb 2020, where necessary)

A representative will be in touch with you within 3 working days, upon receiving your email.

Up To S$10 In GrabFood Promo Codes

In light of the announcement that dining out will be temporarily prohibited as of 7 Apr 2020, CIMB Credit Cards is here to help.

Till 31 May 2020, simply link your CIMB Credit Card to your GrabPay Wallet to enjoy up to S$104 worth of GrabFood Promo Codes for your food delivery needs.

(FULLY REDEEMED)

Terms & Condtions

1 Terms and Conditions governing the CIMB Bank Mortgage Financial Relief Scheme (Covid-19) apply. Click here for full Terms and Conditions.
2 Terms and Conditions governing the CIMB Renovation-i and Renovation/Education Loan (Covid-19) Financing Relief Scheme apply. Click here the full Terms and Conditions for CIMB Renovation-i and here for Renovation/Education Loan.
3 Terms and Conditions governing the CIMB Credit Cards Relief Loan (Covid-19) Scheme apply. Click here for full Terms and Conditions.
4 Terms and Conditions governing the CIMB Credit Cards - Grab Promotion 2020 apply. Each Cardmember shall be eligible to redeem up to two (2) S$5 Grab Promotional Codes under GrabFood. Limited to the first 4,780 redemptions for GrabFood for the entire Promotion Period. Click here for full Terms and Conditions.

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