Malayan Banking Bhd (Maybank) is offering its customers repayment assistance package options to ease their cashflow issues as the six-month moratorium ends on September 30.
In a statement issued on August 7, the bank said that it had been proactively reaching out to its customers to provide these options to ease the financial burden of those who may be affected by the Covid-19 pandemic. “The bank will continue to progressively reach out to more customers but wishes to encourage those who need repayment assistance to contact the bank as soon as possible,” it said.
To apply for repayment assistance, there are three channels available:
- Apply online via Maybank2u (for individual customers excluding hire purchase)
- Apply via email to email@example.com (for individual customers) or SMErelief@maybank.com (for SME customers), providing name, contact number, type of loan (e.g mortgage, hire purchase, term loan financing); vehicle number (for hire purchase) and reason for application
- Visit or call any Maybank branches, SME centres, or auto finance centres (whichever is relevant) nationwide.
Maybank said the packages will be tailored for the customers’ needs such as loss of employment, reduction in salary or disruption in business operations.
This may include extension of moratorium for those who lost employment in 2020, rescheduling of their loan/financing facility to extend the tenure or restructuring the loan/financing to a structure which is more in line with their payment capabilities.
As the deadline for applications is approaching, Maybank urged customers to start applying quickly so that repayment arrangements can be approved and implemented before the moratorium ends.