Pre-approved Principal Payment Holiday Scheme

To provide relief to businesses affected by the outbreak of COVID-19, we are offering eligible corporate customers a pre-approved holiday on principal payments.

Covered Borrowers	Corporate customers which: have, as an entity, an annual sales turnover of up to HK$800 million, according to their latest financial statement; have had no outstanding payments payable to the Bank which were overdue for more than 30 days; and are not in the process of ceasing operations or declaring bankruptcy or liquidation.
Payments Covered	Principal payments for all bilateral loans^1,2 that are drawn down and fall due within the period specified by the HKMA.
Principal Payment Holiday / Partial Principal Repayment	Principal Payment Holiday: 6 months beginning from the original due dates of the payments covered, except trade facilities for which the payment holiday period is set at 90 days³. Partial Principal Repayment: For instalment loans -- Borrowers within this scheme may, at any time, opt to resume partial repayment (e.g. 20%) of the original principal repayment over a period of one year, or (e.g. 50%) of the original principal repayment of two years on a voluntary basis. For trade facilities, loans with a bullet payment due within one year, and outstanding revolving facilities -- Borrowers can repay the amount due by regular instalments over a period of two years according to the circumstances.
Hotline	2211 1338

Remarks:

¹ Also applies to loans for taxis, public light buses, and relevant commercial vehicles held in the name of personal customers.

² Syndicated loans and loans financing the purchase of shares and other financial assets are not covered by the Scheme.

³ For facilities which are self-liquidating in nature, the Bank may require the loan to be settled when the underlying payment has been received by the covered borrower.

⁴ Please refer to the latest circulars issued by the Hong Kong Monetary Authority ("HKMA") for the most up-to-date information.