CIMB, Public Bank to provide targeted loan repayment assistance

PETALING JAYA: CIMB Group Holdings Bhd and Public Bank Bhd will provide loan repayment assistance for customers upon the expiry of the six-month moratorium on Sept 30, 2020.

CIMB Bank Bhd and CIMB Islamic Bank Bhd’s targeted repayment assistance programme will offer individual customers/borrowers who have lost their jobs since Jan 1, 2020, and who remain unemployed a three-month payment relief.

Individual customers/borrowers who have suffered a decline in income will be eligible for a commensurate reduction of monthly payments for at least six months. This will include hire purchase financing whereby affected customers will be offered revised monthly payments, together with an extension of tenure. Other affected SMEs, corporates and individuals will be offered several options.

Customers who anticipate difficulties after Sept 30 are encouraged to get in touch with the bank from now until Sept 7.

Meanwhile, Public Bank has developed a loan repayment assistance programme consisting of various repayment packages which suit its customers’ financial conditions. It has developed a digital platform to enable eligible customers to submit online application for rescheduling of their repayment plans.

Customers are advised to submit online application through the digital platform via Public Bank’s website starting from Aug 7. They can also approach any Public Bank branch, or visit its website for more information.