Banks lend helping hand to flood victims

Loan restructuring, waivers and aid to relieve survivors’ plight

PETALING JAYA: Financial institutions have launched initiatives to alleviate the financial strain of their flood-affected customers and staff.

Bank Negara Malaysia (BNM) announced the availability of a RM500mil Disaster Relief Facility to assist flood-hit small medium enterprises (SMEs).

Applications open until May 31 next year.

Maybank announced a sixmonth moratorium on monthly instalments for loans and waivers for charges on a case-to-case basis for flood-affected customers in Penang.

Replacement charges of ATM cards, cheque books and passbooks destroyed in the floods will be waived.

Etiqa, the group’s insurance arm, will also expedite claims by providing a dedicated Flood Claims Assist hotline.

Maybank Group president and CEO Datuk Abdul Farid Alias hoped these measures will “ease any anxieties over financial commitments the victims have during this difficult period.”

Customers can call the Bank’s hotline at 1300-88- 6688.

The Etiqa Flood Claims Assist Hotlines can be reached at 03-2692 8188 or 011-630 6646 (Whatsapp).

Public Bank and Public Islamic Bank have launched their Relief Assistance Programme, which give a six-month moratorium for monthly instalments of loans a case-to-case basis – and will con- sider flood-affected customers’ appeals for loan restructuring.

The bank is also partnering with Lonpac Insurance Berhad under its Fast-Track Claim Settlement programme to expedite claims.

Affected staff members and families will be provided with cash relief aid.

“Public Bank is ready to support the needs of customers and staff,” said Public Bank managing director Tan Sri Tay Ah Lek.

Affected customers can call Public Bank at 1800-22- 5555 and Lonpac at 03-2262 8688.

CIMB Bank Berhad has put into immediate effect a six-month repayment relief on various loans and financing products for customers and staff affected by the floods.

In a statement, it said repayment relief would be applicable to all secured individual and enterprise/commercial banking loans and financing.

Charges will also be waived for credit/debit card replacement, statement requests or replacement of mutilated passbook/ bankers’ cheques, and premature fixed deposit (FD) cancellation for FD’s with one-month tenure.

“We hope the six-month repayment relief and waiver of various service charges will help alleviate their burden as they rebuild their lives during these trying times,” Tengku Datuk Seri Zafrul Aziz, Group Chief Executive of CIMB Group said.