FAQs on Things That You Need to Know on Moratorium for

Hire Purchase (HP)/AITAB Hire Purchase-i (AITAB HP-i)

No. Question Answer

1. What is HP/AITAB HP-i It is a temporary deferment or suspension of Hire
Moratorium? Purchase (HP)/AITAB Hire Purchase-i (AITAB HP-
i) payment obligation for a limited period of time.

During this period, customers with HP/AITAB HP-i

facility that meet the eligibility criteria are given the
option to apply for HP/AITAB HP-i Moratorium not
later than 28 May 2020 to not make any payment.

2. How long is the deferment The deferment period is from 1 April 2020 to 30
period? September 2020 i.e. six (6) months.

3. Who is eligible? i. All individuals, small and medium-enterprise

(SME)

ii. HP/AITAB HP-i facilities that are not in arrears

exceeding 90 days as at 1 April 2020.

4. Do I need to apply for the Yes. You have to submit your Consent Form to the
HP/AITAB HP-i Bank for you TO OPT-IN for the Moratorium.
Moratorium?

5. How do I apply for the You have to complete the Consent Form at the Public
Moratorium? Bank website https://www.pbebank.com/forms/form-hp-
opt-in.aspx and click submit.

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No. Question Answer
6. Do I have to pay interest or any charges HP Account
on the deferred instalments?
During the Moratorium period, there will be no
interest on the deferred instalments.

After the Moratorium period, the prevailing

Annual Percentage Rate (APR) as stated in your
existing HP Agreement will be charged on the
deferred instalments.

Any interest on the deferred instalments will

commence from October 2020 onwards until
the deferred amount is settled.

AITAB HP-i Account

During the Moratorium period, there will be no

charges on the deferred instalments.

After the Moratorium period, the prevailing

Annual Percentage Rate (APR) as stated in your
existing AITAB HP-i Agreement will be
charged on the deferred instalments. This will
be the increment under the AITAB HP-i on the
deferred instalments.

Any increment on the deferred instalments will

commence from October 2020 onwards on a
daily basis and will not be compounded until
the deferred amount is settled.

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No. Question Answer
7. Do I have any options on how to pay You can pay any of the 6 months deferred
the 6 months deferred instalments? instalments fully or partially at any time after
the Moratorium period.

Interest/Increment on the deferred instalments

will continue to accrue on any of the remaining
unpaid deferred instalments until the deferred
amount is settled.
8. Will this deferment have any impact on No. There will be no impact on your CCRIS
my CCRIS records? records during the deferment period.

However, if your account is currently in arrears

as at 1 April 2020, the arrears status will remain
the same until 30 September 2020, unless you
choose to pay off the arrears during the
deferment period.
9. Will my HP/AITAB HP-i financing Yes. The HP/AITAB HP-i financing tenure will
tenure be automatically deferred after be consequentially deferred for further six (6)
the Moratorium period? months.

However, you have the option to pay off the

10. I am unable to pay all 6 months deferred
instalments in one lump sum
immediately after the Moratorium
period. Will it affect my CCRIS record
and/or legal action/repossession action
will be taken against me?
11. I do not need any Moratorium. What
should I do?
deferred instalments at any time earlier.
No. Your CCRIS record would not be affected
and no legal action or repossession action will
be taken either, as long as you pay your current/
regular monthly instalments from October 2020
onwards promptly.
No action is required if you do not wish to take
up the HP/AITAB HP-i Moratorium.
You are to resume the normal HP/ AITAB HP-
i instalment payments.