Although the economy in Malaysia has reopened completely, Maybank announced today 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, and customers can apply now.
Maybank’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.
As at 31 December 2021, 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). This portion of relief programmes, as also seen in other Maybank home markets, has reduced as at 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, as well as meet the following criteria:
- 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 (6) months deferment of payments, followed by a reduction of 50% instalment for nine (9) 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 (6) months for their loans/financing. Similar options are also available for SME customers.
Those with Hire Purchase loans/financing and meet all other eligibility criteria can choose to opt for either one of two Maybank Repayment Assistance options:
- 50% reduction of instalments for six (6) months, for customers who experienced 50% reduction in income; OR
- Six (6) months deferment of payments and extension of loan/financing tenure, for customers who experienced loss of employment.
Additionally, customers who experienced a 50% reduction in income and have outstanding balance on their Credit Card/Credit Card-i can also choose to convert it into an instalment programme of 36 months.
Customers who are interested to apply for the Maybank Repayment Assistance may do so easily by visiting the Maybank2u Covid-19 Repayment Assistance page at www.maybank2u.com.my/covid19 for the list of supporting documents required and submit their applications via email as follows:
- Individual customers: firstname.lastname@example.org
- SME and non-retail customers: email@example.com
Alternatively, they can also apply by visiting a Maybank branch or relevant centre. For their safety and convenience, customers are encouraged to make a Maybank EzyQ appointment on the MAE app or Maybank2u web (www.maybank2u.com.my/ezyq) prior to their branch visit.
The Maybank Repayment Assistance programme will complement the existing URUS programme made available to B50 individual customers until 31 March 2022. Those who have been affected by severe floods and receiving Flood Relief Assistance may also apply for URUS, until 31 July 2022 or upon expiry of their Flood Relief Assistance programme, whichever comes first.
Meanwhile, Maybank is still offering its Flood Relief Assistance for customers affected by severe floods. Customers have the flexibility to opt for deferment of their monthly payments, reduction of their monthly instalments or extension of tenure for their loans/financing, on top of other fee waivers.
Customers who wish to find out more information about Maybank Repayment Assistance or are interested to apply may visit www.maybank2u.com.my/covid19. For enquiries, kindly contact the Maybank Group Customer Care Hotline at 1-300-88-6688 and press *1 for “Repayment Assistance”.