Malaysian banks extend Urus applications to March 31

  • Banking
  • Tuesday, 25 Jan 2022

KUALA LUMPUR: Malaysia's bank associations have extended the closing date for the submission of applications for the financial management and resilience programme (Urus) from Jan 31, 2022 to March 31, 2022.

In a joint statement, the associations said eligible B50 customers who are in need of further assistance may apply for Urus with their banks by the new deadline.

In addition, eligible B50 customers who have signed up for the banks' flood relief assistance programmes may apply for Urus until July 31, 2022, or upon the expiry of the flood relief assistance programme, which is earlier.

"Banks remain committed to assisting their customers during this challenging period, and are mindful that customers would require time to get back on their feet financially as the economy gradually recovers.

"Customers who are still in need of financial assistance but do not qualify for Urus are encouraged to contact their banks to discuss other repayment arrangements that can be tailored to their financial circumstances," said the associations.

The Urus programme is open to individual customers who are under an existing repayment assistance programme provided by the banks as at Sept 30, 2021, and meet the stipulated criteria.

The criteria include B50 customers with a gross monthly household income of RM5,880 or lower, are experiencing loss of employment or reduction in income of at least 50%, and whose loan/financing facility is not in arrears exceeding 90 days as at the date of the Urus application.

Eligible customers who wish to apply for Urus may do so via their banks’ internet banking or telephone banking channels, or walk-in at branches.

To ease the application process, customers who have loan/financing facilities from multiple banks only need to apply to any one of their banks where they currently have performing facilities under an existing repayment assistance programme.
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