Covid-19: Banks doing their part by offering relief assistance programs for loan repayments
Thursday, 19 Mar 2020 02:18 PM MYTA pedestrian walks past a Maybank Bhd bank branch in Jalan Medan Tunku, Kuala Lumpur January 4, 2018. — Picture by Firdaus Latif
Maybank, CIMB Bank and Public Bank are giving the most affected customers immediate moratorium of up to six months for their monthly loan and financing installments. Public Bank is also offering the same terms, in addition to accommodating requests by affected customers to restructure or reschedule their loans and financing, as well as assist in their cash-flow situation during this difficult time.
“We are monitoring the situation closely and will consider adjusting the moratorium and financial relief for an extended period,” CIMB Group chairman Datuk Mohd Nasir Ahmad was quoted as saying inBesides that, CIMB is offering SMEs up to RM1 million in financing for a tenure of up to five and a half years, which includes the six-month loan repayment moratorium, at an affordable financing rate of 3.75 per cent per annum.
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