RHB Bank and RHB Islamic Bank has further enhanced its Targeted Repayment Assistance (“TRA”) programme to provide easier access to a wider range of borrowers in obtaining financial assistance, in line with the recent Pemerkasa Plus aid package as announced by the Government.
The latest TRA programme applies to individual borrowers who have lost their sources of income, B40 borrowers who are registered under Bantuan Sara Hidup (BSH) / Bantuan Prihatin Rakyat (BPR), microenterprises with loan / financing facilities of up to RM150,000, and all SME businesses that are not permitted to operate during the MCO.
Under the enhanced TRA, eligible customers may select between the following options – deferring their loans / financing facilities for a period of 3 months, or to reduce their monthly instalment payments by 50% for a period of 6 months. Affected customers are required to select their preferred option, following which automatic approvals will be granted by the Bank. Customers’ CCRIS (Central Credit Reference Information System) status will not be affected by their applications for TRA.
Customers in the M40 and T20 segments who have experienced a reduction in income due to the MCO, including reduction in household income, are eligible to apply for reduction in monthly instalments that commensurate with the reduction in their income level.
“We remain committed to providing assistance to our customers and will continue to help them through these challenging times, especially our B40 customers, SMEs, and microenterprise who are affected by the MCO. The enhancements to the TRA will enable affected customers to go through a simplified application process and obtain automatic approvals within a short period of time,” said Dato’ Khairussaleh Ramli, Group Managing Director/ Group CEO of RHB Banking Group.
“We hope the enhanced TRA will help alleviate the financial burden of the affected customers within the B40, M40 and T20 segments, as well as ease the cash flow problems faced by the affected SME customers and Microenterprises. Customers who are impacted by the MCO and in need of financial assistance are encouraged to contact the Bank or for the SMEs to contact their respective Relationship Managers,” added Dato’ Khairussaleh.
RHB has extended Repayment Assistance to more than 180,000 individual and SME customers with total loan and financing facilities amounting to approximately RM20 billion as at 31 March 2021. In addition to this, the Group has also approved approximately RM2.6 billion in relief funds benefitting more than 4,200 SMEs.
