CIMB continues to extend financial relief assistance to all customers impacted by MCO 3.0
4 June 2021
Kuala Lumpur:CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) today announced its revised comprehensive financial relief assistance programmes for all affected customers, in line with the recent Pemerkasa Plus aid package announced by the Malaysian Government.
Given the implementation of the tighter Movement Control Order (“MCO”) 3.0 from 1 June onwards, CIMB’s latest financial relief assistance programmes will be expanded as follows.
Any customer who experienced loss of employment
Any B40 customer (recipients of the Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR))
Any microenterprise (with borrowings up to RM150K)
Any SME that is not allowed to operate during the Movement control Order (locked-down sectors)
Option 1 : Moratorium for three months;
Option 2 : Reduction of monthly instalments by 50% for six months.
The affected borrowers are only required to select the preferred option and approval will be automatically provided, subject to meeting the criteria highlighted.
Alongside this, individual customers who have experienced any decline in income are also able to benefit from reduced monthly instalment payments, and all other affected borrowers can also reach out to the bank to consider restructuring and rescheduling financing solutions.
The latest repayment relief assistance programme is aimed at providing continued help to individual and B40 borrowers, microenterprises and other affected borrowers as well as expanding help to alleviate the cash flow burdens of SMEs that are unable to operate during MCO 3.0.
Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group said, “CIMB would like to reassure our customers that we remain committed to provide support during this challenging period. The expanded financial relief assistance offered to our affected customers is to help them stay resilient given the prolonged challenges. We have ensured a convenient and simple process for our customers to choose a payment relief programme, suited to them."
CIMB urges any customers impacted by the pandemic in any way to reach out to the bank. Impacted customers are able to select the preferred relief programme with minimal documentation required with reassurance that their Customers’ CCRIS (“Central Credit Reference Information System”) status will not be affected.
As of end-May, CIMB has processed around 165,000 financial relief applications for individual and business borrowers in Malaysia, amounting to more than RM22 billion, with an approval rate of virtually 100%.
For further assistance, customers can call CIMB’s Contact Centre at +603 6204 7788 or email firstname.lastname@example.org. SMEs can call CIMB’s Business Call Centre at 1300 888 828 (Local) and +603 2297 3000 (Overseas) from Monday to Friday from 7.00am to 7.00pm and Saturday from 8.00am to 5.00pm (excluding public holidays) or visit http://www.cimb.com.my/frap. Non-SMEs and corporate customers may also contact their CIMB Relationship Manager to discuss financing options. For more information, please visit https://www.cimb.com.my/covid19support.
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