The effective date for the new monthly instalment rate depends on how you make your payments. 

 

1. Repayment by GIRO: If you pay through GIRO, you will need to submit a request to change the instalment rate before the 15th of the month for it to take effect in the current month. It usually takes one working day to process the request. For example, if the 15th of the month falls on a Sunday, please submit the request by the 12th of the month (Thursday) if you want the new rate to be effective for the current month. Otherwise, the change will only be effective in the following month.

 

2. Repayment using other payment modes: If you use other payment modes, please change the instalment rate before the end of the month. Generally, it will take one working day to process the request.