Alliance Bank Malaysia Berhad is offering various Payment Relief Assistance packages to help ease customers’ financial and cash flow constraints when the moratorium ends on 30 September 2020.
The Bank is extending an additional 3-month moratorium assistance until December 31 2020 to individuals of targeted segments including those who have lost their jobs, the B40 segment, or those who work in highly-impacted sectors such as hotel, tour operator, restaurant, or aviation.
According to Joel Kornreich, group chief executive officer of Alliance Bank, they priority is to help their customers weather the crisis and emerge stronger post-pandemic.
“We advise our customers to plan ahead and discuss their financial situation with us as soon as possible to determine the
relief package best suited to them,” Kornreich said.
Those who experienced a reduced income can opt to pay lower monthly installment for up to 12 months.
For other individuals not within these categories who also require help with their loans, the Bank is ready to support via loan modifications to suit customers’ loan repayment affordability.
The Bank also offers payment relief packages to businesses that are experiencing a reduction of business income, or operating in a highly impacted sector. Since March 2020, the Bank has provided its customers loan moratorium, Special Relief Facility amounting to over RM600 million, and various loan modification programmes.
The Payment Relief Assistance is an extension of Alliance Bank’s commitment to help customers financially through these difficult times.