Targeted Repayment Assistance for B40 individuals and Microenterprises also available from 23 November 2020
To continue to provide financial relief to individual and Small and Medium Enterprise (SME) customers whose livelihood have been impacted by the pandemic, Maybank has extended the application period for loan/financing Repayment Assistance until 30 June 2021. Customers who require financial assistance can still contact the Bank to discuss and work out the most suitable Repayment Assistance package to address their current circumstances.
With the pandemic prolonging, Maybank’s priority is to ensure that customers continue to have access to the assistance they require to get them through this difficult period.
To-date, the Bank has processed over 90,000 Repayment Assistance applications received from customers and have approved all eligible applications processed. Of these approved applications, close to 45% have been granted a further deferment in the repayment of their loans and financing.
To complement its existing Repayment Assistance packages, Maybank is also offering Targeted Repayment Assistance (TRA) to eligible B40 individual and Microenterprise customers starting today, 23 November 2020 up to 30 June 2021.
As outlined by Minister of Finance during the tabling of Budget 2021 and Bank Negara Malaysia’s announcement on 6 November 2020, the eligibility criteria of the TRA are as follows:
To be eligible for TRA, customers’ loans or financing must also be approved before 1 October 2020 and not in arrears for more than 90 days at the point of application. Customers who apply for the TRA can opt for a 3-month deferment of instalments or a 50% reduction in instalment for 6 months for their loans or financing. In addition, other comprehensive packages are also being offered by the Bank. All successful applications for TRA will take effect from 1 December 2020 to 30 June 2021.
Applications for both Repayment Assistance and the new Targeted Repayment Assistance packages can be made easily via any of the 4 available channels:
In addition, the application process has also been simplified for selected groups. For B40 customers and Microenterprises eligible for the TRA, no documentation is required while M40 customers, registered in the Bantuan Prihatin Nasional database, only need a self-declaration for their Repayment Assistance application.
For their safety and convenience, the Bank encourages customers who intend to apply for any Repayment Assistance package to do so via email, telephone or online (details of the 3 channels are as listed above). Those who wish to apply physically at our branches are encouraged to make an appointment online prior to that using Maybank EzyQ (via Maybank2u) before the visit. Customers can choose their preferred branch as well as appointment date and time, and appointments can be made as close as one business day in advance and up to 10 business days ahead at www.maybank2u.com.my/ezyq.
For more information and to read the FAQ on Maybank’s Repayment Assistance packages including TRA, please visit www.maybank2u.com.my/covid19 or contact the Maybank Group Customer Care Hotline at 1-300-88-6688 and press *1 for “Repayment Assistance”.