Some good news for those who are struggling.
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There’s some relief for borrowers as Maybank has announced that it has extended the application for loan refinancing payment assistance until 30th June 2021.
This applies to both individual and Small and Medium Enterprise (SME) customers.
Customers who require financial and loan refinancing assistance can contact the bank to work out the most suitable repayment assistance package.
New targeted repayment assistance (TRA) for B40 individuals and microenterprise customers
Along with the loan refinancing extension, Maybank also announced a new targeted repayment assistance (TRA) to eligible B40 individual and microenterprise customers, available from 23 November 2020 until 30 June 2021.
Under the new TRA, customers can opt to defer installments for three months or a 50% reduction in instalment for 6 months for their loans or financing.
This new TRA scheme is applicable to:
- B40 individuals who are recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR)
- Microenterprises with approved loan or financing amount of up to RM150,000 per facility with either (i) sales turnover less than RM300,000 per annum, or (ii) less than five full-time employees.
- Loans or financing approved before 1st October 2020 and not in arrears for more than 90 days at the point of application
How to apply for Maybank’s TRA:
- E-mail – firstname.lastname@example.org (individuals) or SMErelief@maybank.com (SME customers)
- Online – Maybank2u (for individuals and sole proprietors) or Maybank2u Biz (for microenterprises and SMEs) from 5 December onwards
- Call – Maybank group customer care hotline at 1-300-88-6688 and press *1 for repayment assistance
- Visit or call – any Maybank branch, SME Centre or Auto Finance Centre (whichever is relevant) nationwide
Successful applicants will see the TRA in effect from 1 December 2020.
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