Alliance Bank offers financial relief for customers affected by Covid-19

KUALA LUMPUR: Alliance Bank Malaysia Bhd is extending assistance to customers affected by the ongoing COVID-19 (2019 novel coronavirus) outbreak via several financial relief initiatives.

In a statement yesterday, Alliance Bank said customers who are affected are eligible for financial relief, including deferment of loan installments or financing servicing (principal and interest/profit), and loan restructuring and rescheduling for up to six months, as well as waiver of late charges for loans or financing.

“We are commi ed to help alleviate our customers’ burden and ensure business continuity,” said Alliance Bank’s group chief executive officer Joel Kornreich.

Meanwhile, the bank’s insurance partner, Manulife Insurance Bhd, is providing medical coverage to all policyholders seeking treatment related to COVID-19 within Malaysia.

They are also extending the payment period to 90 days for all life insurance policies for affected policyholders.

Policyholders with policies issued or reinstated before January 30, 2020 will have their 30-day waiting period waived when seeking medical treatment for COVID-19.

The bank is also offering complimentary insurance coverage to their customers when they open an Alliance SavePlus or investment account between February 14, 2020 and April 13, 2020.

More information on Alliance Bank are available at www.alliancebank.com.my. – Bernama