Like its counterparts, both CIMB and Maybank have also stepped up to support Malaysians in the aftermath of the Covid-19 pandemic. In the third and final part of our moratorium series, we’ll be taking a look at the moratorium assistance offered by CIMB Bank and Maybank.
CIMB customers who meet the following eligibility criteria may apply for this programme:
Categorised as B40 and registered under the Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR) database, and meeting these criteria:
B40 households (with monthly income less or equal to RM4,000); or
B40 singles (with monthly income less or equal to RM2,000)
Loan/Financing must not be more than 90 days overdue
Loan/Financing is in the Ringgit Malaysia denomination.
There are two options under this initiative, which are:
Option 1: Three-month deferment of instalments.
Option 2: 50% reduction in instalments for six months.
However, customers are advised to take note that for both options, interest/profit will continue to accrue on the deferred amount. Customers must also take note that they are only allowed to choose one of the options above, which cannot be changed after selection.
How Can I Apply?
To apply, you may call CIMB’s contact centre at +603-6204 7788 or walk-in to any CIMB branches. Click here to find out which is the nearest CIMB branch to you.
Do take note that the deadline to apply is June 30, 2021, and the programme will begin in the month after your application.
What Are the Documents Needed?
There are no documents required by CIMB.
FAQs for TPA
I had earlier opted-out of the six-months automatic moratorium programme from April to September 2020. Can I still apply for this?
Yes, but you must meet the eligibility criteria stated above.
I have a joint facility with my husband. He falls under the B40 category, but I do not. Are we still eligible to apply for this programme?
Yes, you are.
I am not under the B40 category. However, I have been affected by the pandemic. Can I still get assistance?
Yes, you can. If you have:
Lost your job: The three-months payment relief option is available for those who have lost their employment from Jan 1, 2020, onwards.
Experienced a reduction in income: A reduction in monthly instalments is available if you fall under this category.
You may reach out to CIMB via:
CIMB’s contact centre at +603-6204 7788
Email CIMB at [email protected]. Do take note to include your full name as per NRIC, your loan/financing account number, your mobile number, and your reason for applying (loss of employment or reduction in your income). Do take note to include all your loan/financing accounts you wish to include in this programme if you have more than one financing account.
The Additional Targeted Repayment Assistance (TRA) by Maybank are eligible for its individual customers who are B40 individuals who are recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR). Maybank has provided this link to check your status easily.
However, the following conditions apply:
Valid for customers whose loans/financing have been approved before October 1, 2020, and not in arrears for more than 90 days.
Excludes charge card and individuals under bankruptcy proceedings or adjudicated bankrupts.
Eligible customers may choose from these two options that are best suited to their needs:
Option 1: Three-months deferment on monthly instalments
Option 2: 50% reduction in monthly instalments for six months.
Upon your selection, Maybank will then package it into a comprehensive repayment assistance plan. However, do take note that the interest/profit will continue to be charged on the outstanding balance and accrued during this deferment. This is applicable to both conventional and Islamic loans/financing.
Email Subject: Request for Targeted Repayment Assistance
Name
NRIC
Contact number
Type of loan
Preferred Option (Option 1 or 2)
Maybank’s Customer Care Hotline: 1-300 88 6688 (do take note to press *1 for Repayment Assistance). If you are overseas, you may contact this number: +603-7844 3696.
Walk into any of Maybank’s branches. Find out the nearest Maybank’s branch to you by clicking this link.
Do take note that the deadline to apply is June 30, 2021.
What Are the Documents Needed?
No documents needed if you meet the eligibility criteria.
FAQs for TRA
I have previously opted out of the automatic moratorium assistance, but I would like to apply for TRA. Is this possible?
Yes, you may do so if you meet the eligibility criteria.
How will I know the results of my application?
You will be notified via email, SMS, or phone call.
I am not under the B40 category and I fall under the M40 category. I need financial assistance from Maybank. What are my options?
You may apply for assistance under the ‘Repayment Assistance’ Programme.
If you are:
Registered under the Bantuan Prihatin Nasional (BPN) Database: No supporting documents needed, and you will only need to submit a self-declaration.
Not registered under the BPN database: You will need to submit supporting documents such as a retrenchment letter from your employer (if you have lost your job), a letter from your employer confirming a reduction in your income (if you are experiencing a decrease in your income), and the latest salary slip. If you are self-employed or a business owner, you are required to submit the latest three months bank statement. However, if your main account is with Maybank, no document is required.
You may submit your application via any of these options:
Email Subject: Request for Targeted Repayment Assistance
Name
NRIC
Contact number
Type of loan
Employment status (for example: employed, self-employed, unemployed)
Reason for applying
Maybank’s Customer Care Hotline: 1-300 88 6688 (do take note to press *1 for Repayment Assistance). If you are overseas, you may contact this number: +603-7844 3696.
Walk into any of Maybank’s branches. Find out the nearest Maybank’s branch to you by clicking this link.
Conclusion
The Group Chief Executive Officer of CIMB Group, Dato’ Abdul Rahman Ahmad was quoted in saying that “CIMB stands ready to assist and will continue to prioritise the financial well-being and economic resilience of our customers through our Expanded Targeted Payment Assistance (TPA) and other ongoing relief programmes.” A similar stance of support can be evidenced from other local players in the financial landscape such as Public Bank, Bank Islam, and Maybank and it is indeed heart-warming to see that the #kitajagakita spirit is alive and well in Malaysia.
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