RHB To Offer Moratorium Up To Six Months For Customers Affected By Flood



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RHB To Offer Moratorium Up To Six Months For Customers Affected By Flood

By Ayunie

In regard to the latest flood issues that are currently affecting Malaysia at the moment, RHB Banking Group (RHB) is set to provide financial assistance to individual customers as well as small and medium enterprises (SMEs) affected by the disaster. 


Under the Flood Relief Program , eligible loan payers can apply for deferment of installment payments for up to six months for their mortgages, Amanah Saham Bumiputera (US) loans or financing, personal loans or financing and hire purchases.


"Besides that, the bank also offers an exemption of late payment charges and interest on affected credit cards up to RM500 and exemption of card replacement fees for ATMs, debit cards, and credit cards," RHB Bank said in a statement. "In addition, RHB will also provide flood relief financing funds for SMEs, including a moratorium on installments for new and existing SME loan payers, with financing facilities of up to RM300,000 for a period of three years at reasonable rates," they added. 


For SMEs, loan payers are eligible to apply for a moratorium on existing financing facilities on principal and/or interest/profits.

According to the statement, apart from the Flood Relief Program for individual loan payers and SMEs, RHB Insurance also provides claims services under its Natural Disaster Response Team which allows for quicker minor claims on motor and fire insurance up to RM10,000 for damage due to natural disasters.


"I request customers affected by the floods to contact us to enable us to provide appropriate assistance," said Group Managing Director and Chief Executive Officer of RHB Banking Group, Datuk Khairussaleh Ramli.

For more information on the Flood Relief Program, you can go directly to the following website to check the FAQs: www.rhbgroup.com.

Source: Berita Harian 

rhb Bank banking Group flood relief program financial loans repayments


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