A payment holiday is a short-term break from repaying all or a portion of your monthly loan instalments.
You may skip your full repayment or part of it (based on your arrangement) for the duration of the payment holiday, which is usually 1-3 months. After that, you’ll have to resume your normal monthly repayments.
Please note: You’re not required to pay your entire monthly instalment (or portion of your monthly instalment). Your outstanding balance will increase because of the interest and service fees charged to your account as your repayment term was extended. You’ll end up paying a little more than your original amount.