You will need to provide the following documents to us 5 business days before the expiry of your insurance policy :
a. The original copy of a signed letter of undertaking for our safe-keeping
b. The original fire insurance policy, with
i) Us (the Bank) stated as the Mortgagee;
ii) A non-cancellation clause stating that we must be informed by the insurer prior to
any cancellation or any material changes proposed to be made to the policy; and
iii) the original receipt showing the premium was paid
Note: If the documents listed above are not furnished to us before the expiry of your insurance policy, the Bank will instruct Allianz Global Corporate & Specialty SE Singapore Branch to effect the fire insurance for you.
Please also note that there is an upfront administration fee of S$100. Thereafter, an annual administration fee of S$100 will be charged.