Financial Relief Measures related to COVID-19 outbreak
We care about the well-being of our customers and our community. We are offering relief measures to our existing customers with retail banking account, mortgage or unsecured credit facilities (Credit Card, Personal Line of Credit, Personal Loan or Debt Consolidation Plan) to help ease your financial burden and access basic banking services during this period.
In good and bad times, we are here to help. Together We Thrive.
Mortgages
The current Special Financial Relief Programme (SFRP) is due to expire on 31 December 2020. An extension of support measures via the Extended Support Scheme (ESS) from 9 November 2020 onwards is aimed at helping those facing cashflow concerns transition gradually to full loan repayments. If you are unable to resume making full mortgage loan repayments, you may apply for ESS to make reduced instalment payments pegged at 60% of your original monthly instalment, for a period of 9 months, but not exceeding 31 December 2021.
The support measures will also be available to borrowers who did not take up any SFRP previously, but are facing cashflow challenges now.
Eligibility
- Existing HSBC Home Loan customers with gross monthly income reduced by at least 25% or loss of employment after 1 February 2020 due to COVID-19.
- Applicants' monthly repayment must not be more than 90 days past due.
- For joint-borrowers, assessment will be based on the combined gross monthly income of all borrowers, subject to proof of income impact.
- Application for Extended Support Scheme (ESS) will be available from 9 November 2020 until 30 June 2021.
Enquiries
To find out more, leave us your contact details and we will be in touch within 5 working days (during office hours).
To apply, please complete the form and email to sfrpmortgage@hsbc.com.sg and we will be in touch within 14 working days (during office hours).

If you need to get in touch with us, our online chat agents are here for you.
Please contact our Live Chat for further enquires during operating hours:
Monday - Friday 8:30am to 10:00pm
Saturday - Sunday 10:00am to 10:00pm
Frequently asked questions
Important reminder: With the Reduced Instalment Scheme, you will pay a lower monthly instalment, pegged at 60% of your monthly instalment, for a period of up to 9 months, but not exceeding 31 December 2021. While this Scheme can ease your monthly instalments, the principal amount of your home loan that is repaid is lower and therefore the total interest payable over the entire loan tenor will be higher.
Before applying, please carefully assess your financial circumstances, future repayment ability, potential economic changes as well as the impact on interest rates and total interest payable over the loan period. For financial prudence, we advise that you opt for the Reduced Instalment Scheme only if needed.
Terms and conditions apply. The bank has full discretion in deciding whether or not to accept and/or approve an application.
Unsecured
If your personal finances are impacted by the COVID-19 situation and you are facing challenges in repaying your unsecured credit facilities with HSBC, we can help to convert your current outstanding balance into an instalment plan under the Special Financial Relief Programme (SFRP).
SFRP (Unsecured) will convert your existing outstanding balances into an instalment plan at an effective interest rate of 8% p.a. for tenor of up to 5 years.
Upon successfully converting your outstanding balance into an instalment plan under SFRP (Unsecured), please note that you will be unable to use your existing unsecured credit facilities until the full repayment of the instalment plan.
Eligibility
Applicant must meet the following criteria:
- Singaporean or Singapore Permanent Resident
- Existing customers with HSBC Credit Card, Personal Line of Credit and/ or Personal Loan product(s), and outstanding amount(s) in each product is between 30 and 90 days past due.
- Finances have been impacted by COVID-19 situation, resulting in reduction of at least 25% of monthly income after 1 February 2020
- Not enrolled under any existing debt repayment schemes (e.g. Debt Consolidation Plan (DCP), Repayment Assistance Scheme (RAS), Debt Management Plan (DMP) or Debt Relief Plan (DRP) with any Financial Institutions)
Tenor (years) | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|
Equivalent flat interest rate (p.a.)* |
4.4% | 4.3% | 4.3% | 4.3% | 4.3% |
Applied/ Effective interest rate (p.a.) |
8.0% | 8.0% | 8.0% | 8.0% | 8.0% |
Loan Amount: SGD10,000 |
SGD870 | SGD453 | SGD314 | SGD245 | SGD203 |
Loan Amount: SGD20,000 |
SGD1,740 | SGD905 | SGD627 | SGD489 | SGD406 |
Loan Amount: SGD30,000 |
SGD2,610 | SGD1,357 | SGD941 | SGD733 | SGD609 |
Tenor (years) |
Equivalent flat interest rate (p.a.)* |
---|---|
1 | 4.4% |
2 | 4.3% |
3 | 4.3% |
4 | 4.3% |
5 | 4.3% |
Tenor (years) |
Applied/ Effective interest rate (p.a.) |
1 | 8.0% |
2 | 8.0% |
3 | 8.0% |
4 | 8.0% |
5 | 8.0% |
Tenor (years) |
Loan Amount: SGD10,000 |
1 | SGD870 |
2 | SGD453 |
3 | SGD314 |
4 | SGD245 |
5 | SGD203 |
Tenor (years) |
Loan Amount: SGD20,000 |
1 | SGD1,740 |
2 | SGD905 |
3 | SGD627 |
4 | SGD489 |
5 | SGD406 |
Tenor (years) |
Loan Amount: SGD30,000 |
1 | SGD2,610 |
2 | SGD1,357 |
3 | SGD941 |
4 | SGD733 |
5 | SGD609 |
* Equivalent flat interest rate is for reference only and is based on a front-end-add-on calculation method (Interest = loan amount x flat interest rate x tenor).
Calculation shown above is indicative and for illustrative purposes only.
Enquiries
Please note that
- application for SFRP (Unsecured) will start from 6 April to 30 June 2021.
- no cancellation is allowed upon submission.

If you need to get in touch with us, our online chat agents are here for you.
Please contact our Live Chat for further enquires during operating hours:
Monday - Friday 8:30am to 10:00pm
Saturday - Sunday 10:00am to 10:00pm
Frequently asked questions
Important reminder: Terms and conditions apply. The application is subject to HSBC's review and approval.
Debt Consolidation Plan
If your personal finances are impacted by the COVID-19 situation and you are facing challenges in repaying your Debt Consolidation Plan with HSBC, we can help you reduce your monthly repayment amount by extending the tenor of your Debt Consolidation Plan for up to 5 years (please note that the total interest payable throughout the tenor of your Debt Consolidation Plan will be increased accordingly).
Eligibility
Applicants must meet the following criteria:
- They hold an existing HSBC Debt Consolidation Plan
- The outstanding amount in respect of their HSBC Debt Consolidation Plan is between 30 and 90 days past due
- Loss of income of at least 25% after 1 February 2020
Illustration
Loan amount | SGD50,000 |
---|---|
Equivalent flat interest rate (p.a.)* | 3.8% |
Applied/ Effective interest rate (p.a.) | 7.0% |
Tenor (years) | 7 |
Total interest payable | SGD13,390 |
Monthly repayment amount | SGD755 |
Remaining tenor (years) | 4 |
Loan amount | Equivalent flat interest rate (p.a.)* |
---|---|
SGD50,000 | 3.8% |
Loan amount | Applied/ Effective interest rate (p.a.) |
SGD50,000 | 7.0% |
Loan amount | Tenor (years) |
SGD50,000 | 7 |
Loan amount | Total interest payable |
SGD50,000 | SGD13,390 |
Loan amount | Monthly repayment amount |
SGD50,000 | SGD755 |
Loan amount | Remaining tenor (years) |
SGD50,000 | 4 |
With tenor extension (years) | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|
Revised remaining tenor (years) | 5 | 6 | 7 | 8 | 9 |
Revised monthly repayment amount (estimated) | SGD624 | SGD538 | SGD476 | SGD430 | SGD395 |
Revised total interest payable (estimated) | SGD14,608 | SGD15,852 | SGD17,120 | SGD18,224 | SGD19,077 |
With tenor extension (years) | Revised remaining tenor (years) |
---|---|
1 | 5 |
2 | 6 |
3 | 7 |
4 | 8 |
5 | 9 |
With tenor extension (years) | Revised monthly repayment amount (estimated) |
1 | SGD624 |
2 | SGD538 |
3 | SGD476 |
4 | SGD430 |
5 | SGD395 |
With tenor extension (years) | Revised total interest payable (estimated) |
1 | SGD14,608 |
2 | SGD15,852 |
3 | SGD17,120 |
4 | SGD18,224 |
5 | SGD19,077 |
* Equivalent flat interest rate is for reference only and is based on a front-end-add-on calculation method (Interest = loan amount x flat interest rate x tenor).
Calculation shown above is indicative and for illustrative purposes only.
Enquiries
Please note that
- You may apply for SFRP (Debt Consolidation Plan from 18 May 2020 to 30 June 2021.
- Upon approval of your application, we will inform you of the estimated revised monthly repayment amount and total interest payable via email. After you have acknowledged this, the tenor of your Debt Consolidation Plan will be extended accordingly.
- We will notify you via a letter when the tenor of your Debt Consolidation Plan has been extended. You are required to continue making the current monthly repayments in respect of your Debt Consolidation Plan until such extension takes effect.

If you need to get in touch with us, our online chat agents are here for you.
Please contact our Live Chat for further enquires during operating hours:
Monday - Friday 8:30am to 10:00pm
Saturday - Sunday 10:00am to 10:00pm
Frequently asked questions
Important reminder: Extending the loan tenor will increase the total interest payable throughout the tenor of your Debt Consolidation Plan. Hence, you should consider this only if you need some relief in respect of your monthly debt obligations. The application is subject to HSBC's review and approval.
Retail Banking Accounts
If your personal finances are impacted by the COVID-19 situation and you are facing challenges in maintaining the minimum average daily or monthly balances in your banking accounts, we're here to help.
As part of HSBC's SFRP relating to COVID-19 outbreak, you can now opt in for a waiver of the Below Balance Fee on your retail banking account.
For failed GIRO deduction charges, there is no need to apply. HSBC will not levy these charges from now till 30 June 2021.
Enquiries
Please note that the application for SFRP (Retail Banking Accounts) is open from now till 30 June 20211.

If you need to get in touch with us, our online chat agents are here for you.
Please contact our Live Chat for further enquires during operating hours:
Monday - Friday 8:30am to 10:00pm
Saturday - Sunday 10:00am to 10:00pm
Frequently asked questions
Important reminder: Terms and conditions apply.
1Please note that the below balance fee on respective account(s) will only be waived from the month in which you have submitted your application till 30 June 2021. For avoidance of doubt, if you have submitted a request in the month of June 2021, the below balance fee will be waived for June 2021 and not for prior months.