Image credit: New Straits Times
SEVERAL banks have extended assistance to borrowers affected by the floods which includes six-month repayment deferment to lessen the burdens faced by the victims.
Hong Leong Bank Bhd (HLB) and Hong Leong Islamic Bank Bhd have mobilised a “Flood Relief Assistance” programme which offers up to a six-month payment deferment on loan and financing facilities.
The deferment includes credit cards and is available for affected individuals, small and medium enterprises (SMEs) and microenterprise customers.
“Additional financing will also be made available to existing SMEs and Microenterprise customers who require working capital to facilitate their business recovery as a result of the floods.
“Affected customers who are currently receiving assistance under the Bank’s Payment Relief Assistance Plans or the Pemulih Repayment Assistance, are also eligible to apply for the Flood Relief Assistance,” said the bank in a statement yesterday.
It is also offering free replacement for bank-related documents lost in the floods such as debit and credit cards, as well as cheques and bank statements that were damaged.
Similarly, Public Bank Bhd and Public Islamic Bank Bhd are offering repayment relief for flood victims with loan and financing facilities.
The repayment relief includes deferment of monthly instalment for loan and financing of up to six months, on a request basis and is
applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected businesses.
It also offers waiver of charges on the replacement of banking-related documents that are destroyed or lost in the floods and it also collaborates with Lonpac Insurance Bhd in facilitating and expediting all claims to be made by affected customers.
“Public Bank has always been supporting its customers during challenging times. In this recent devastating flood, Public Bank will continue with its endeavour to provide full support to its customers to restore their livelihood as soon as possible. Affected customers who require the relief are advised to contact the bank for more information,” said the bank’s MD and CEO Tan Sri Tay Ah Lek in a statement yesterday.
Additionally, the bank also provides cash assistance and compassionate leave for affected staff, on top of the repayment relief.
Meanwhile, Bank Islam Malaysia Bhd (BIMB) announced the commencement of the Prihatin Programme for Flood on Sunday to assist all of its affected financing customers.
Under the programme, affected customers with financing facilities can apply for financial relief of up to six months on their monthly commitment and replace bank-related documents for free.
The group’s CEO Mohd Muazzam Mohamed said the bank is taking proactive actions in helping its customers who were affected by the floods especially as the country is still battling with the Covid-19 pandemic.
“The wellbeing of the communities has always been one of BIMB’s main priorities. Therefore, we hope that the Prihatin Programme for flood could help relieve customers’ anxieties over their financial commitment during this difficult period.
Apart from that, BIMB is also working on providing the necessary support to the general public affected by the current situation,” he said.
SME Bank Bhd announced it will also provide necessary assistance based on individual needs to ensure optimum effectiveness of its aid.
In a statement, it said customers can get in touch directly with their respective relationship managers for any enquiries pertaining to their financing accounts or anything related to it.
The recent flood caused by three days of torrential rain in the Peninsular has left more than 40,000 people displaced and killed five people to date.
Bank Muamalat Malaysia Bhd also provides assistance to customers affected by flash floods.
“Affected customers can contact Bank Muamalat to discuss any problems regarding their financing payment if they are facing financial constraints arising from the floods,” said Bank Muamalat presi- dent and CEO Khairul Kamarudin.
“In addition, the affected customers will not be charged any fee for the replacement of their Bank Muamalat debit card. This is to alleviate the burden faced at this time,” Khairul added.
Source: https://themalaysianreserve.com/2021/12/21/banks-offer-repayment-assistance-to-flood-victims/