Over 99% of Maybank’s repayment assistance approved

MORE than 99% of applications for repayment assistance which have been processed by Maybank have been approved as of Oct 15.

These comprise applications by both individuals and SME customers who are seeking additional financial support following the expiry of the six-month blanket loan moratorium on Sept 30.

Of these approved applications, Maybank said some 38% of the applicants had been granted a further moratorium on the repayment of their loans/financing.

To date, Maybank has already processed some 81,000 applications from these two categories of customers, according to its group chief executive officer (community financial services) Datuk John Chong.

“We are still in the midst of processing additional applications given that there has been last minute rush from those who have come in after Oct 1,” he said in a media release today.

“Maybank is ever ready to continue supporting our customers and those who need assistance can still contact us to discuss repayment packages to suit their current financial needs.”

The repayment assistance packages include additional months’ deferment of loan or financing repayments for those recently unemployed as a result of the Covid-19 pandemic, as well as reduction of loan or financing repayments for those with reduced income.

On the same note, Chong said over 85% of Maybank’s retail customer base had continued to service their loans/financing as usual from Oct 1.

“We will continue to engage with those facing challenges to assist them with appropriate solutions,” he added. – Oct 20, 2020

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