KUALA LUMPUR, Aug 3 (Bernama) — CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) today announced the details of its targeted repayment assistance programme post-moratorium as part of its continued commitment to assist severely affected customers to weather through this challenging period.
In line with YAB Prime Minister’s recent announcement on the government’s extended COVID-19 relief initiatives, CIMB’s targeted repayment assistance programme will be as follows:
1. Individual customers/borrowers who have lost their jobs since 1 January 2020, and who remain unemployed, will be given a 3-month payment relief
2. Individual customers/borrowers who have suffered a decline in income will be eligible for a commensurate reduction of monthly payments for at least 6 months. This will include Hire Purchase financing where affected customers will be offered revised monthly payments, together with an extension of tenure
3. Other affected SMEs, corporates and individuals will be offered several options which include an extension of the existing relief programme, profit/interest servicing only, possible extension of the loan/financing tenure to enable lower monthly instalments and amending other terms and conditions of the loan/financing where appropriate.