20 Banks In Msia That Are Offering Loan Repayment Assistance To Those Affected By COVID-19
This is helpful for individuals and businesses that have difficulty repaying their bank loans.
By Jeremy Ng — 24 Mar 2020, 12:39 PM
In light of the development of COVID-19 and the implementation of MCO, several banks in Malaysia have introduced moratoriums – a delay of loan repayments, of up to six months
If you have outstanding bank loans and face challenges paying them, you could benefit from these financial assistance programmes. Some banks are even offering moratoriums on mortgages and credit cards, on a case-by-case basis.
However, each bank has its own programme, so make sure you find out more on their website or call the bank for further clarification.
1. Affin Bank & Affin Islamic Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Facility for SMEs affected by COVID-19
For more information, visit their website or email respective business divisions of the bank:
- Consumer Banking: [email protected]
- SME Banking: [email protected]
- Corporate Banking: [email protected]
Contact Centre: 03-8230222 | Website
2. Agrobank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of financing facilities
4. Ambank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- 24-hour approval for AmBank’s Special Relief Facility for SMEs
5. Bank Islam
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
6. Bank Mualamat
- Moratorium (delay of loan repayments) of up to six months up until 31 July 2020
- Restructuring and rescheduling of instalment repayments
7. Bank Rakyat
- Moratorium (delay of loan repayments) of up to six months up until 31 July 2020
- Restructuring and rescheduling of instalment repayments
8. Bank Simpanan Nasional
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Facility for SMEs and micro enterprises affected by COVID-19
9. CIMB Bank & CIMB Islamic Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments of up to 2 years
- Special Relief Facility for SMEs affected by COVID-19
10. Hong Leong Bank & Hong Leong Islamic Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Facility for SMEs affected by COVID-19
- "Priority Lane" for those customers who apply for these plans
11. HSBC Bank & HSBC Amanah Malaysia Berhad
- Moratorium of up to six months for loans, mortgages, credit cards, as well as retail business banking and commercial banking
- Restructuring and rescheduling of instalment repayments
- Additional financial relief for commercial banking and global banking customers
12. Maybank & Maybank Islamic
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Facility for SMEs affected by COVID-19
13. MBSB Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
14. OCBC Bank & OCBC Al-Amin Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Fund for SMEs to alleviate short term cash flow problems
15. Public Bank & Public Islamic Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
16. RHB Bank & RHB Islamic Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
- Special Relief Facility for SMEs affected by COVID-19
17. SME Bank
- Moratorium (delay of loan repayments) of up to six months
- Restructuring and rescheduling of instalment repayments
19. UOB Malaysia
For conventional and Islamic banking corporate clients
For individual customers
Contact Centre: 03-2612 8121 | Website
20. Bank Negara Malaysia
Through the government's Economic Stimulus Package 2020, Bank Negara Malaysia is providing small and medium-sized enterprises (SMEs) a special relief facility worth a total of RM2 billion.
If your business is impacted by COVID-19 and at least 51% of your shares are held by Malaysians, you could be entitled for this facility. What this means is that you can borrow up to RM1 million, with an interest rate of up to 3.75% per annum. You will not require a collateral, and there will be no guarantee and legal fees imposed.
The special relief facility is offered by various banks nationwide. Do check with your bank if you qualify for it, or find out more here.
