Following the 2021 Budget speech by the Finance Minister of Malaysia and Bank Negara Malaysia’s announcement on 6 November 2020, we wish to announce that Maybank will be providing additional Targeted Repayment Assistance (TRA) to our individual and SME customers.
- Individual customers who are categorised as B40 and are recipients of the Bantuan Sara Hidup (BSH)/Bantuan Prihatin Rakyat (BPR);
- SME customers who are microenterprises, as defined by SME Corporation Malaysia, with approved loans/financing amount of up to RM150,000.
Note: Only loans/financing that are approved before 1 October 2020 and not in arrears for more than 90 days will be eligible.
TRA Packages for B40 & Microenterprises
We will be providing a comprehensive package for customers, which will include the options announced by the Finance Minister and BNM to:
- defer monthly instalments for 3 months; or
- reduce monthly instalments by 50% for 6 months
This comprehensive package is designed to address our customers’ current financial position and assist them during this difficult period.
Customers may apply for the TRA starting 23 November 2020 until 30 June 2021 via our official channels but the TRA will only be take effect from 1 December 2020 to 30 June 2021.
We will be providing more details on the TRA and how you can apply for it soon.
For customers who do not fall within the categories mentioned above but require financial assistance, please reach out to us via the various channels available and we will customise a repayment assistance package to suit your current financial position. For customers who are categorised as M40, registered in the Bantuan Prihatin Nasional database, whose household incomes have been impacted by the pandemic, only a self-declaration is required for the Repayment Assistance application.
Please be reminded not to deal with any third parties claiming to be agents/representatives of the bank for matters relating to repayment assistance.
For further information on how to apply for Targeted Repayment Assistance or Repayment Assistance, kindly visit our Covid-19 Financial Relief Scheme page to learn more.