Maybank continues to support customers via repayment assistance programme

KUALA LUMPUR: Malayan Banking Bhd (Maybank) will continue offering support to customers who are still recovering from the effects of the pandemic under its Maybank Repayment Assistance programme for individuals, small and medium enterprises (SME) and non-retail customers.

In a statement today, the bank said its focus was to tailor financial support for customers in need and help them rebuild their resilience to adapt and operate in the new normal, in line with its mission of Humanising Financial Services.

Maybank noted that the Maybank Repayment Assistance is available to all individual customers who have experienced loss of employment or at least a 50 per cent reduction in income, as well as SME and non-retail customers who have experienced a decrease in revenue.

It added that the affected customers must meet several criteria namely not under an existing repayment assistance programme as at the date of application; whose loan/financing is still performing (not in arrears for more than 90 days); as well as whose loan/financing was disbursed on or before Sept 30, 2021.

"Individual customers who have experienced the loss of employment and meet all other eligibility criteria may opt for six months deferment of payments, followed by a reduction of 50 per cent instalment for nine months for their loans/financing.

"Whereas those who have experienced a 50 per cent reduction in income and meet all other eligibility criteria can request for 50 per cent reduction of instalments for six months for their loans/financing. Similar options are also available for SME customers,” said Maybank.

"Additionally, customers who experienced a 50 per cent reduction in income and have an outstanding balance on their Credit Card/Credit Card-i can also choose to convert it into an instalment programme of 36 months,” said Maybank.

The bank said customers who are interested to apply for the Maybank Repayment Assistance may do so by visiting the Maybank2u Covid-19 Repayment Assistance page at www.maybank2u.com.my/covid19 for the list of supporting documents required.

"Alternatively, they can also apply by visiting a Maybank branch or relevant centre,” it added.

The bank noted that the Maybank Repayment Assistance programme would complement the existing Financial Management and Resilience Programme (URUS) programme made available to bottom 50 per cent income group (B50) individual customers until March 31, 2022.

Those who have been affected by severe floods and receiving Flood Relief Assistance may also apply for URUS until July 31, 2022 or upon expiry of their Flood Relief Assistance programme, whichever comes first. - Bernama