15 banks offer moratoriums on loan repayments in flood-affected states

KUALA LUMPUR: A total of 15 banks are offering loan repayment moratorium for residents living in the floodaffected states, said Prime Minister Tan Sri Muhyiddin Yassin.

The moratorium facility, including the extension of the moratorium and restructuring of loan repayment, will continue to be offered by banks as announced previously, he said.

“To-date, over 1.3 million borrowers have applied and received such assistance, with approval rate at 95 per cent for individual borrowers and 99 per cent for small and medium enterprise borrowers.

“As such, Malaysians need not worry about contacting their respective banks should they require repayment flexibility,” he said in a special address on the Malaysian Economic and Rakyat's Protection Assistance Package (PERMAI), which was telecast live on television stations and social media platforms yesterday.

As for borrowers who face difficulties in dealing with their bank, Muhyiddin said Bank Negara Malaysia and the Credit Counseling and Management Agency are ready to assist and provide their advice either via online or by phone.

Meanwhile, National Higher Education Fund Corporation (PTPTN) borrowers affected by the Covid-19 outbreak and the flood disaster may apply for a three-month loan repayment moratorium, he said, adding that application for this moratorium can be made until March 31, 2021.

In enhancing the Employees Provident Fund's (EPF) iSinar Programme, especially for those facing challenges due to the Movement Control Order (MCO) and floods, the government has been informed that EPF will provide an advance of up to RM1,000 from the amount applied under the iSinar Category 2 facility.

“The i-Sinar Category 2 advance withdrawal process has also been simplified as members need to only provide a self-declaration that they meet the prescribed criteria and submit the supporting documents online.