PETALING JAYA: Malayan Banking Bhd (Maybank) has extended the application period for loan/financing repayment assistance until June 30, 2021 to continue to provide financial relief to individual and small & medium enterprise (SME) customers whose livelihood have been impacted by the pandemic.
Customers who require financial assistance can still contact the bank to discuss and work out the most suitable repayment assistance package to address their current circumstances.
“With the pandemic prolonging, Maybank’s priority is to ensure that customers continue to have access to the assistance they require to get them through this difficult period,” Maybank said in a statement today.
To-date, the bank has processed over 90,000 repayment assistance applications received from customers and have approved all eligible applications processed. Of these approved applications, close to 45% have been granted a further deferment in the repayment of their loans and financing.
To complement its existing repayment assistance packages, Maybank is also offering targeted repayment assistance (TRA) to eligible B40 individual and microenterprise customers starting today up to June 30, 2021.
The eligibility criteria of the TRA are:
i. B40 individuals who are recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR)
ii. Microenterprises with approved loan or financing amount of up to RM150,000 per facility and meets either one of the criteria below:
a. Sales turnover less than RM300,000 per annum or
b. Have less than five full-time employees
To be eligible for TRA, customers’ loans or financing must also be approved before Oct 1, 2020 and not in arrears for more than 90 days at the point of application. Customers who apply for the TRA can opt for a three-month deferment of instalments or a 50% reduction in instalment for six months for their loans or financing. In addition, other comprehensive packages are also being offered by the bank. All successful applications for TRA will take effect from Dec 1, 2020 to June 30, 2021.
Applications for both repayment assistance and the new TRA packages can be made easily via any of these channels:
a. Apply via email to weassist@maybank.com (for individual customers) or SMErelief@maybank.com (for SME customers), providing name, IC no, contact number and type of loan (eg mortgage, hire purchase (HP), term loan financing). For applicants with HP loans, please state vehicle number as well
b. Visit or call any of our branches, SME Centres or Auto Finance Centres nationwidec. Call our Maybank Group Customer Care Hotline at 1-300-88-6688 and press *1 for repayment assistance; or
d. Apply online via Maybank2u (for individuals and sole proprietors) or Maybank2u Biz (for microenterprises and SMEs) – available starting Dec 5, 2020.
In addition, the application process has also been simplified for selected groups. For B40 customers and microenterprises eligible for the TRA, no documentation is required while M40 customers, registered in the Bantuan Prihatin Nasional database, only need a self-declaration for their repayment assistance application.
For their safety and convenience, the bank encourages customers who intend to apply for any repayment assistance package to do so via email, telephone or online.
