Maybank offers moratorium for Penang flood victims

Maybank Group president and CEO Datuk Abdul Farid Alias

KUALA LUMPUR: Maybank has announced a six-month moratorium on monthly instalment payments for loans and waiver of certain charges based on a case-to-case basis for customers in Penang affected by the floods.

The suspension for payments are extended to business banking, SME banking and consumer banking customers.

Maybank Group president and CEO Datuk Abdul Farid Alias said this moratorium was in line with Maybank's mission of humanising financial services wherever it operates. 

“We are deeply concerned over the difficulties faced by individuals and families who have been affected by the situation and understand that they will have other more pressing priorities and financial needs at this time," he said. 

"We hope that the moratorium we are offering will ease any anxieties over financial commitments they have during this difficult period and help them resume their normal routines as soon as possible.” 

The moratorium covers deferment of monthly instalments based on a case-to-case basis for customers with consumer and business banking loans for up to six months. It also includes waiver of charges for affected customers seeking replacement of ATM cards, cheque books and passbooks which have been destroyed in the floods.

Maybank, he said, will also consider requests from affected credit card customers for waivers of late/finance charges and applications to increase their credit limits during this period subject to existing guidelines and policy.

Etiqa, the group’s insurance arm will expedite claims processes as well as help ease any financial hardship during the flood by providing policyholders with a dedicated Flood Claims Assist Hotline.

Customers can call the Bank’s hotline at Tel [phone] for further information or visit their home branches to apply for the moratorium. The Etiqa Flood Claims Assist Hotlines can be reached at 03-2692 8188 or 011 630 6646 (Whatsapp).