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China Banks Allow Late Mortgage Payment Amid Epidemic: Xinhua

CHINA PRESS
MNI (Singapore)

China's five biggest state-owned banks will extend mortgage repayment time for customers affected by the epidemic, extend loan terms and adjust billing plans like reducing instalment payments for the current month, Xinhua News Agency reported. The Bank of China will guide branches in epidemic-hit areas such as Shanghai and Jilin province to offer reliefs for those who were hospitalized or quarantined due to infections, those who participated in prevention work and those who temporarily lost incomes due to the epidemic, Xinhua reported. China Construction Bank will allow short-term deferral of payments for up to 28 days, Xinhua said.

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