HKMC Insurance Limited announced that enhancements to the 100% Personal Loan Guarantee Scheme (PLGS) will take effect from 19 April 2022 (Tuesday). The Financial Secretary announced in the 2022-23 Budget that the application period of the PLGS will be extended to end-April 2023. The maximum loan amount per borrower will be increased from six times to nine times the average monthly income during employment, subject to a ceiling of HK$100,000 (originally HK$80,000). In addition, the maximum repayment period under the PLGS will be extended from six years to 10 years, and the principal moratorium arrangement will be extended from 12 months to 18 months.