If you are currently paying to AKPK, please reach out to them for assistance. On 30 September 2020, the moratorium period for automatic deferment of all financing payments will end. I am currently under AKPK program, will I be eligible as well? The automatic moratorium is applicable for all outstanding loans/financing as at 1 April 2020. If you would like to enjoy the moratorium, just stop making payment in the following months. You will then enjoy the moratorium for 5 months, from May 2020 to September 2020. Kami akan membantu anda selama 6 bulan seterusnya. Please also reach out to us through the following contact points to discuss any possible financial concerns prior to the end of the moratorium period. 23. I have a loan/financing which is automatically deducted from my salary? This is applicable to RHB’s retail and small-medium enterprise (SME) customers during the 6-month repayment moratorium starting 1 April 2020. My installment for March 2020 is due on 5th April 2020. Accounts are not in arrears exceeding 90 days as at 1 April 2020; and. Would all new loan / financing disbursed after 1st April 2020 qualify for the moratorium? Following the announcement by Bank Negara Malaysia on 30 April 2020, all customers who have decided to take up the Moratorium for Hire Purchase Loans and Fixed Rate Islamic Financing are also required to do the following: As such, the Moratorium that had been granted automatically to customers in April 2020 for both facilities will require the additional steps stipulated above. 13. You will need to settle the 6 months deferred instalment with an extension of 6 months at end of Original Maturity Date with no additional interest / profit charges. Therefore, you need not pay for the 5 April 2020 due date. All loan/financing customers (except credit card) are eligible for the moratorium with below criteria: All loan/financing customers (except credit card) that meets the criteria in Question 1 will automatically qualify for the deferment. KUALA LUMPUR (July 30): Shares of bank counters fell today, led by a decline in Public Bank Bhd as investors digested the targeted loan moratorium extension announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday. If you wish to defer the payment or opt for the moratorium, please proceed to cancel future dated transactions by logging in to RHB Now Internet Banking and select either one of the following: 7. This link is provided for your convenience only, and shall not be considered or construed as an endorsement or verification of such linked website or its contents by RHB Banking Group. In a joint statement yesterday, the Association of Banks in Malaysia (ABM) and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said banks will continue to extend repayment assistance, including an extension of the existing moratorium where … 17. to apply or to opt in for the Moratorium programme by 31 May 2020, AND; to accept the new terms and conditions of the deferred instalments. For business customers. 8. 27. You can approach the bank for restructuring and rescheduling (R&R) after the moratorium period. I have a combination of term loan/financing and overdraft facilities. I may require restructuring /rescheduling (R&R) after the deferment period. If I have Standing Instruction for my loan/financing from other banks? I have an issue that is not covered here and I need to speak to an RHB staff about it. The Moratorium period has ended on 30 September 2020 and monthly payments resumes from 1 October 2020. I want to opt-out from the moratorium, how can I do that? Yes, only for overdraft facility where the balance is in excess of the approved limit, subject to meeting the criteria specified in Question 1. Dear Valued Customers. 14. If you wish to know more, please contact us at: For individual customers. What if after the moratorium period and I still have trouble paying the loan/financing payment? The consequential extension of tenure arising from the automatic moratorium is allowed, subject to the maximum loan/financing tenures of 35 years for home financing. If I have previously taken a moratorium package, am I eligible to apply for the new moratorium package? You may enrol into the moratorium programme (from 1 April until 30 Sept 2020) and continue to pay same monthly instalment from Oct 2020 until Original Maturity Date. The interest/profit will not be compounded during the moratorium period. Via telephone – 03-8230 2222; Via email: Community Banking - yourvoice@affinbank.com.my; SME Banking – smecare@affinbank.com.my 16. Email: sme@hlbb.hongleong.com.my. The interest/profit arising from the deferred payments of 6 months will not be compounded during the moratorium period. Broadly, the extension of the debt moratorium comes with some refinements compared to the current relief programmes. They are required to pay the remaining 20% of principal and interest on the loan. FAQ updated as at 11 June 2020. The government will soon make an announcement about the loan moratorium extension for all, and the one-off withdrawal from Akaun 1 of the Employees Provident Fund (EPF), said Datuk Seri Shahidan Kassim. This link is provided for your convenience only, and shall not be considered or construed as an endorsement or verification of such linked website or its contents by RHB Banking Group. Malayan Banking Bhd (Maybank) fell 2 sen or 0.26% to RM7.73, CIMB Group Holdings Bhd fell 4 sen or 1.12% to RM3.56, while BIMB Holdings Bhd fell 7 sen or 1.99% to RM3.46. When asked about what would happen if there was another blanket three- or six-month moratorium, the spokesperson said the extension of the blanket moratorium will have an impact on the bank’s profitability and liquidity, and subsequently the wider economy. You can approach the bank for restructuring and rescheduling (R&R) after the moratorium period. You have been enjoying the 6-month repayment/payment moratorium. 26. Hong Leong Bank Bhd dropped 28 sen or 1.57% to RM17.52; Public Bank Bhd fell 12 sen or 0.57% to RM21.08; Malayan Banking Bhd slipped 10 sen or 1.21% to RM8.15. I am currently paying interest/profit only as my purchased property is still under construction. COVID-19 Financial Assistance for individuals. The previous moratorium applicants at RHB are also eligible for the new moratorium program. KUALA LUMPUR: Banks will continue to extend repayment assistance, including an extension of the existing moratorium where applicable, to … He said that the government cannot force the banks to extend the loan moratorium and will continue discussions with them. Please arrange to suspend your Standing Instruction with your respective bank. ... Malaysia Bank Moratorium: Why You Should Opt For The 6-Month Deferment For ALL Loans (Updated) by Pang Tun Yau; 6th May 2020 ... Hann’s Thoughts: What’s The Best Option For A Loan Moratorium Extension? 17. ... RHB Banking Group Pledges RM5 Billion In Support Of Green Financing By 2025 You May Also Like P Personal Finance News. For this reason, R&R has developed a negative connotation as a service for those who have zero control over their finances. I may require restructuring /rescheduling (R&R) after the deferment period. 9. RHB does not charge compounding interest/profit. 3. 11. 11 minute read; B Budgeting & Saving. 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