Malayan Banking Bhd (Maybank) has extended its repayment assistance packages to its customers who are affected by the Movement Control Order (MCO) and impact of the Covid-19 pandemic.

In a statement on June 9, Maybank said the repayment assistance packages included loan deferment (moratorium) for a period of three months, or a 50% reduction, in the monthly instalment payment for a period of six months.

“This is available to all individual B40 customers who are registered under the Bantuan Sara Hidup (BSH)/ Bantuan Prihatin Rakyat (BPR) programme (whether they have lost their jobs) and customers from any income segment who have lost their jobs as a result of the pandemic or MCO,” it said.

It said micro-enterprises with loan facilities of not more than RM150,000, as well as small and medium enterprises (SMEs) which are not permitted to operate during the MCO with total lockdown are also eligible.

Meanwhile, Maybank said it is also offering a commensurate reduction in monthly instalment repayment for any individual customer, regardless of income classification (B40, M40 or T20), or other micro-enterprises, SMEs or whoever that had experienced a reduction in income (including household income for individuals).

“Other borrowers who do not fall under the above categories but who may be experiencing financial challenges during this MCO may also discuss with the bank for alternative repayment assistance packages to help them overcome their difficulties during this period,” it said.

The Edge Markets