Bank Rakyat offers moratorium extension
Published on: Monday, August 10, 2020
By: Bernama
_(2).jpg "Bank Rakyat offers moratorium extension")
Kuala Lumpur: Bank Rakyat is offering a three-month extension of the loan moratorium period for customers who may face difficulties in continuing with their loan repayments once the moratorium ends on Sept 30, 2020.As part of its proactive measures, the bank has identified close to 190,000 potentially affected financing accounts and is currently contacting the account owners in stages.
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“The moratorium extension is specifically aimed at customers who have been laid-off from their jobs in 2020 and have yet to be re-employed, as well as those who have been put on unpaid leave by their employers.
“Customers who had to undertake pay cuts may also apply to reduce their monthly instalments proportional to their salary reduction for a minimum period of six months,” Bank Rakyat said in a statement on Sunday.
Additionally, the bank is also offering targeted assistance for affected self-employed individuals as well as small and medium-sized enterprises, which includes extending the financing period to reduce the monthly repayments.Stay up-to-date by following Daily Express’s Telegram channel.
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More information is also available at www.bankrakyat.com.my as well as the bank’s official social media platforms, @mybankrakyat (Facebook, Instagram and Twitter).
