THE RHB Banking Group has thus far extended payment assistance to about 59,000 of its individual and SME customers with total loan and financing facilities amounting to more than RM10 bil.
In order to ensure fast turnaround time in approving repayment assistance requests, the bank has put in place an auto approval mechanism to cater to eligible customers who have submitted their applications, according to the bank’s group managing director Datuk Khairussaleh Ramli.
“We will continue to assist our customers who are facing difficulty in paying their monthly instalments and this repayment assistance will be made available all the way until June 2021,” he said in a statement.
RHB’s loan and financing payment assistance programme is applicable for both individual and small- and medium-enterprises.
Among the payment assistance options available for its customers (upon submission of appropriate documentary evidence) include:
- Payment deferment for customers who have lost their jobs or income, in which the bank will provide a three-month payment deferment.
- Reduction of instalment payment for customers who have suffered a reduction in salary or income, in which the bank will provide reduction in instalment payment for a period of at least six months.
- Other forms of assistance available include payment of interest or profit only and lengthening of loan or financing tenor.
“Approval rate for repayment assistance applications is almost at 100%. Those that have not been approved are largely due to documents that are still pending, but we are simplifying this as much as possible,” added Khairussaleh. – Oct 22, 2020
