Malaysian Banks Offer Deferment Of Loan Repayments For Customers Affected By Wuhan Coronavirus

sme bank
(Image: The Malaysian Reserve)
sme bank
(Image: The Malaysian Reserve)

(Article updated on 12 Feb 2020 to include Agrobank, CIMB and CIMB Islamic, as well as Maybank.)

Several Malaysian banks have announced that they are now allowing customers to apply for temporary deferment in repaying loans that could be affected by the 2019 novel coronavirus outbreak.

This is in light of the various travel and logistical restrictions imposed in China due to the virus outbreak, which saw many business owners face various challenges that will affect cash flow. As such, these Malaysian banks hope to lighten their customers’ financial burden in this period of difficulty.

This sentiment is echoed by the Association of Banks Malaysia. “Concerted efforts by our member banks are underway to ensure that bank customers are able to weather through this trying time and ensure business continuity,” it said in a statement.

Agrobank

agrobank
(Image: The Malaysian Reserve)
  • Temporary relief measures to be offered based on business needs; it will be determined on a case-by-case basis.
  • For more information, call the bank’s customer contact centre at 1-300-88-2476 or visit the nearest branch.

(Source: The Star)

AmBank

(Image: Allen International)
  • Temporary deferment of loan repayments or restructuring of installment repayments
  • For more information, call the bank at 03-2178 8888, email [email protected], or visit the nearest branch.

(Source: Bernama)

Bank Rakyat

bank rakyat
(Image: The Star)
  • Temporary deferment of loan repayments or restructuring of installment repayments
  • For more information, call the tele-Rakyat Contact Centre at 1-300-80-5454 or visit the nearest branch.

(Source: The Star)

Bank Simpanan Nasional (BSN)

bank simpanan nasional
(Image: The Star)
  • Temporary deferment of loan repayments or restructuring of installment repayments
  • For more information, call the BSN Customer Contact Centre at 1-300-88-1900 or visit the nearest BSN branch.

(Source: Bernama)

CIMB Bank and CIMB Islamic Bank

cimb-branch-1
(Image: New Straits Times)
  • Restructuring/rescheduling of installment repayments
  • For more information, reach out to your nearest CIMB branch officers or relationship managers.

(Source: New Straits Times)

Hong Leong Bank & Hong Leong Islamic Bank

hong leong bank-1
(Image: The Malaysian Reserve)
  • Moratorium of up to six months or restructuring/rescheduling of installment repayments
  • For more information, call the bank at 603-7626 8899 or email [email protected]

(Source: Bernama)

Maybank

maybank
(Image: The Star)
  • Moratorium of up to six months or restructuring/ rescheduling of installment repayments
  • For more information, reach out to your nearest Maybank branch officers or relationship managers.

(Source: The Star)

Public Bank

public bank-1
(Image: The Edge Markets)
  • Moratorium of up to six months or restructuring/rescheduling of installment repayments
  • For more information, call the bank at 1800-22-5555 or visit the branch where you maintain your account.

(Source: Public Bank)

RHB Bank & RHB Islamic Bank

rhb-1
(Image: The Borneo Post)
  • Moratorium of up to six months or restructuring/rescheduling of installment repayments
  • For more information, call the bank at 03-9206 8118, visit the nearest branch, or approach any relationship managers for assistance.

(Source: The Star)

SME Bank

sme bank
 (Image: The Malaysian Reserve)
  • Temporary deferment of loan repayments or restructuring of installment repayments
  • For more information, call the bank at 03-2603 7700 or visit the nearest BSN branch.

(Source: SME Bank)

***

The coronavirus was first detected in Wuhan, China and it has caused the Chinese government to impose strict travel and logistical restrictions to contain the spread of the virus. So far, the republic has announced more than 1,000 fatalities in China alone. Citizens are slowly returning to work after the extended shutdown, although much of the country continues to remain at a standstill which continues to affect supply chains around the world.

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