Maybank has announced that it will continue offering support to customers who are still recovering from the effects of the pandemic. The Maybank Repayment Assistance programme is available to individual, SME and non-retail customers.
The bank’s focus is 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 had close to RM80 billion of loans and financing under various relief programmes such as PEMERKASA Plus, PEMULIH and Financial Management and Resilience Programme (URUS) as at 31 December 2021.
This portion of relief programmes has reduced as of February 2022 as customers’ cash flow pressures lessen and livelihoods stabilise with the economy reopening.
The Maybank Repayment Assistance is available to all individual customers who have experienced loss of employment or at least a 50% reduction in income, and SME and non-retail customers who have experienced a decrease in revenue and meeting the criteria of 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 at the date of application; and whose loan/financing was disbursed on or before 30 September 2021.
Individual customers who have experienced loss of employment and meet all other eligibility criteria may opt for six months deferment of payments, followed by a reduction of 50% instalment for nine months for their loans/financing, whereas those who have experienced a 50% reduction in income and meet all other eligibility criteria can request for 50% reduction of instalments for six months for their loans or financing. Similar options are also available for SME customers.
