KUALA LUMPUR: RHB Banking Group (RHB) has launched its flood relief assistance programme, offering immediate financial relief and long-term recovery support to individuals, micro, small and medium enterprises (MSMEs), available from now until Jan 31, 2025.
RHB said that SME customers who are not currently part of a restructuring or rescheduling programme may apply for payment relief for up to six months (January to June 2025) for various financing facilities, including hire purchase, term loan and financing, overdraft, and interest and profit as well as multi-trade line bill payments.
"They can apply for the Disaster Relief Facility (DRF) in which micro, small, and medium enterprises (MSMEs) can access financing of up to RM700,000 at preferential rates to aid in business recovery,” it said in a statement.
RHB said that individual customers may apply for a payment deferment of up to six months (January to June 2025) for mortgages, Amanah Saham Bumiputera (ASB) loan and term financing, personal loan and financing, and hire purchase facilities. "They also may apply for fee waivers on late payment charges, interest and management fees on affected credit cards of up to RM500 (January to June 2025). Also, waivers on replacement fees for auto teller machine, debit cards, and credit cards,” it added.
More information at https://www.rhbgroup.com/-/media/pdf/flood-relief-assistance-2024-faq.pdf.
Meanwhile, Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) said it is ready to provide immediate assistance to its customers through tailored financing solutions and relief measures.
"SME Bank is ready to support MSMEs requiring additional financing through Bank Negara Malaysia’s Disaster Relief Facility (DRF). This facility offers financing of up to RM700,000 for SMEs and RM150,000 for micro-enterprises, with a competitive financing rate of 3.5 per cent per annum (inclusive of guarantee fees) and a financing tenure of up to seven years,” it said.
SME Bank urges customers to reach out to the bank at 03-2603 7700.
Meanwhile, AmBank Group has also offered flood assistance to affected customers nationwide.
In a statement today, the bank said that it is offering targeted assistance to eligible customers with a moratorium of up to six months for all financing facilities.
For applications on AmBank’s flood relief programme please refer to: https://www.ambank.com.my/repayment-assistance/flood-relief-programme
Public Bank Bhd
and Public Islamic Bank Bhd are also offering repayment relief for loan and financing customers who have been affected by the recent floods.
In its statement, Public Bank said the repayment relief includes deferment of monthly instalment for loan and financing of up to six months.
"The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected businesses,” it said.
The bank said the relief also covers waiver of charges on the replacement of banking-related documents, such as bank cards, passbooks and fixed deposits/Term Deposits-i receipts that have been destroyed or lost in the floods.
It added that immediate collaboration has been made with Lonpac Insurance Bhd for fast processing of claims by the affected customers on losses covered by insurance policies underwritten by Lonpac.
Customers who require the repayment relief may contact the bank’s general line at 03-21708000. - Bernama
