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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.

Cover image via Regulation Asia

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.

Here’s a list of banks offering loan repayment assistance:

The banks are arranged alphabetically.

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:

Contact Centre: 03-8230222 | Website

2. Agrobank

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of financing facilities
Contact Centre: 1-300-88-2476 | Website

3. Alliance Islamic Bank

Image via Wikipedia

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of loan repayments
  • Waiver of late charges for loans or financing
Contact Centre: 03-55169988 | Website

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
Contact Centre: 03-2178 8888 | Website

5. Bank Islam

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 03-26900900 | Website

6. Bank Mualamat

Image via Bank Mualamat

  • Moratorium (delay of loan repayments) of up to six months up until 31 July 2020
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 1-300-88-8787 | Website

7. Bank Rakyat

  • Moratorium (delay of loan repayments) of up to six months up until 31 July 2020
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 1-300-80-5454 | Website

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
Contact Centre: 1-300-88-1900 | Website

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
Contact Centre: 03-62047788 | Website

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
Contact Centre: 603-7626 8899 | Website

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
Contact Centre: 1-300-88-2626 | Website

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
Contact Centre: 1-300-88-6688 | Website

13. MBSB Bank

Image via KLSE Screener

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 03-20963000 | Website

14. OCBC Bank & OCBC Al-Amin Bank

Image via Yahoo News

  • 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
Contact Centre: 03-83149310 | Website

15. Public Bank & Public Islamic Bank

Image via RinggitPlus

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 1-800-22-5555 | Website

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
Contact Centre: 03-92068118 | Website

17. SME Bank

  • Moratorium (delay of loan repayments) of up to six months
  • Restructuring and rescheduling of instalment repayments
Contact Centre: 03-26037700 | Website

18. Standard Chartered Saadiq

Image via Yelp

  • Profit-only payment up to six months moratorium for affected retail and SME clients
Contact Centre: 1-300-88-8888 | Website

19. UOB Malaysia

For conventional and Islamic banking corporate clients

  • Moratorium (delay of loan repayments) of up to one year
  • Review to grant more facilities to clients who need additional financing
For individual customers
  • Moratorium of up to six months for loans, mortgages, credit cards
  • Restructuring and rescheduling of instalment repayments
  • Interest-only repayments of up to six months on credit card repayments
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.

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