Maybank, Hong Leong Bank, AmBank, CIMB, Public Bank offer loan repayment moratorium up to 6 months

Maybank, Hong Leong Bank, AmBank, CIMB, Public Bank offer loan repayment moratorium up to 6 months

Numerous banks have begun offering financial assistance to those most affected by the coronavirus outbreak, as the disease continues to impact lives and take its toll on the local economy. In February, Maybank and Hong Leong Bank announced that they would be offering services that include the restructuring and rescheduling of financing, as well as moratorium on loan repayments for up to six months.

Maybank in particular said that its relief measures, which is being made to individuals with hire purchase agreements among others, would be provided on a case-by-case basis. “Should the situation persist, the bank will consider the possibility of extending the moratorium and financial relief for a longer period,” said group president and CEO Datuk Abdul Farid Alias.

AmBank also announced a temporary deferment of repayments to affected customers (as well as 24-hour approvals), and yesterday both CIMB and Public Bank joined in with similar programmes. Expect other banks to either already offer these services or announce them in the coming days and weeks.

Banks will continue to be open at their usual times during the government’s movement control order – introduced which came into effect yesterday in an attempt to curb the spread of the disease – as they are deemed to offer “essential services”.

Of course, if you do need to go to the bank during this period, you are advised to follow all necessary precautions, such as frequently washing your hands, limiting face-to-face meetings and avoiding close contact with others. Online and mobile banking services will also remain operational, so do avoid going to the bank unless you absolutely have to.

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Jonathan Lee

After trying to pursue a career in product design, Jonathan Lee decided to make the sideways jump into the world of car journalism instead. He therefore appreciates the aesthetic appeal of a car, but for him, the driving experience is still second to none.

 

Comments

  • vivizurianti on Mar 19, 2020 at 2:52 pm

    Syukur x10000 we live in Malaysia. In the midst of virus outbreak, shrinking job opportunities, economic uncertainty…….the moratorium will definitely ease the burden of debtors in Malaysia.

    Other banks should follow these banks to save our Nation.

    Like or Dislike: Thumb up 11 Thumb down 0
  • Tocey on Mar 19, 2020 at 4:15 pm

    My Public Bank carloan postponed 6month. Tq..

    Like or Dislike: Thumb up 16 Thumb down 8
  • Sylvester on Mar 19, 2020 at 6:15 pm

    How do we apply for this postpone? Any idea or only for SME? How about credit card can we cut off the interest rate?

    Like or Dislike: Thumb up 4 Thumb down 0
  • vivizurianti on Mar 20, 2020 at 9:30 am

    Some smart alecs would say “Car loan payment postponed for 6 months? Wow! This is time to go cuti-cuti with family”

    Like or Dislike: Thumb up 0 Thumb down 0
  • Hi, how to apply for the relief measure? Hire purchase with Maybank and CIMB can?

    Like or Dislike: Thumb up 0 Thumb down 0
  • rowena cabillar on Mar 20, 2020 at 12:13 pm

    how to apply for this and whats the requirements to prepare please help me and give some idea.

    Like or Dislike: Thumb up 0 Thumb down 0
  • shahCBJ on Mar 20, 2020 at 1:22 pm

    can help to share steps for Ambank house loan individual ?

    Like or Dislike: Thumb up 0 Thumb down 0
  • Ring ring on Mar 21, 2020 at 12:57 am

    Its just a phone call away to your bank to find out more.

    Like or Dislike: Thumb up 0 Thumb down 0
  • only those yg kena cv 19 are eligible to apply, why don’t banks make it automatic for all debtors,no need to apply lah,whether affected by cv 19 or not, just input something in their system, actually all malaysians are affected by this pandemic, direct or indirect. Banks sudanh untong manyak selama ini hoo…, its time for banks to help customers dengan ikhlas

    Like or Dislike: Thumb up 0 Thumb down 0
  • Raneegokul on Mar 25, 2020 at 9:32 pm

    How to apply the loan

    Like or Dislike: Thumb up 0 Thumb down 0
  • abdul hakim on Mar 27, 2020 at 12:40 pm

    Hi Ambank,
    If I want to continue to pay as normal, so how?

    Like or Dislike: Thumb up 0 Thumb down 0
  • SITTI HARIJAH BINTI HASSAN on Aug 01, 2021 at 11:29 am

    Tangguhan bayaran

    Like or Dislike: Thumb up 0 Thumb down 0
 

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