Banks offer respite on repayments, fees

PETALING JAYA: Two banks have offered a six-month moratorium on monthly installment payments for loans and other fees, based on a case-to-case basis, for customers in Penang affected by the floods.

Maybank said the respite shall be applicable to its business, SME and consumer banking customers.

Maybank Group president and chief executive officer Datuk Abdul Farid Alias said the moratorium is in line with Maybank’s mission of humanising financial services.

The moratorium also includes a waiver on charges for replacement of ATM cards, cheque books and passbooks that have been destroyed in the floods.

Maybank will also consider requests from affected credit card customers for waivers of late/ finance charges and applications to increase their credit limits during this period, subject to existing guidelines and policies.

Etiqa, the group’s insurance arm, will expedite claims as well as help ease any financial hardship during the flood by providing policyholders with a dedicated “Flood Claims Assist Hotline” at 03-2692 8188.

Public Bank also offered a similar respite for house financing, hire purchase, credit cards and other loans and financing facilities.

It will also approve requests to restructure loans and financing, and reschedule monthly payments.

Public Bank managing director Tan Sri Tay Ah Lek said the bank will work with Lonpac Insurance Bhd to facilitate claims.

The bank will also provide special cash relief assistance to its staff and their families who were affected by the floods.

Customers may visit their Public Bank branch or call 1800 22 5555.