Public Bank offers loan, financing repayment relief to customers affected by floods

KUALA LUMPUR: Public Bank and Public Islamic Bank are offering loan and financing repayment relief for customers affected by the recent floods in several states in Malaysia.

Public Bank’s managing director and chief executive officer Tan Sri Tay Ah Lek said

the repayment relief would alleviate their financial burden and also help them to restore their livelihood.

According to the statement, the relief measures include deferment of monthly instalment for loan and financing of up to six months on a request basis.

The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers as well as small and medium enterprise (SME) loan and financing for affected local businesses.

The banks also offer waiver of charges on the replacement of banking related documents such as bank cards and passbooks that have been destroyed or lost in the floods.

In addition, insurance claims covered by insurance policies underwritten by Lonpac Insurance Bhd will be expedited to facilitate those affected customers.

"On top of that, SMEs and micro enterprises affected by floods located in districts identified by Agensi Pengurusan Bencana Negara as flood disaster areas are also eligible to apply for the Bank Negara Malaysia’s (BNM) Disaster Relief Facility, of which Public Bank is a participating financial institution.

"This facility is for the purpose of repairs and/or replacement of assets for business use, such as plants and machinery which have been damaged by floods, as well as for working capital purposes,” it said. - Bernama