The following can apply for Repayment Assistance as announced by the Government:
- Individual clients who lost their jobs.
- B40 clients who are recipients of BSH or BPR.
- Micro Enterprises with approved financing facilities of less than RM150K.
- SMEs and Micro Enterprises that are not allowed to operate at the time of application due to the Movement Control Orders.
- Borrowers, including those in M40 and T20 segments, who have suffered a reduction in income will be eligible to lower their installments which commensurate with the reduction in their income.
- Financing approved before 1 June 2021.
- Financing account not in arrears for more than 90 days as at the application date.
- For B40/M40 customers – the customer or spouse is listed as recipients of BSH/BPR.
Eligible customers can apply from 1 June 2021.
- Indulgence period
- Profit Servicing Period
Yes. The existing profit rate will remain.
No, the financing will not be coded as Restructure & Reschedule in CCRIS.
- No fees being imposed for the SRP.
- However additional legal cost for New Aqad and documentation may be incurred for changes in terms and/or amount of the original financing facility.
Will my financing/loan maturity change, if I were to opt for the SRP?. What would be my new instalment amount after the end of the SRP period?
- As a result of the Indulgence or Profit Servicing mechanism, the original terms may change. Any changes will be notified in the Letter of Notification.