Alliance Bank Malaysia Berhad and RHB Bank Berhad have announced Flood Relief Assistance programmes to help ease some of the financial burdens faced by customers impacted by the recent floods.
These comprise options of a loan moratorium of up to six months, loan repayment modifications, and waivers of fees for customers and businesses that have been affected by the flood situation in several states nationwide.
“We understand the emotional and financial strain on the families and businesses impacted by the flood. We hope the Flood Relief Assistance will help ease some of their financial worries. Affected customers can contact us to discuss the relief package that meets their needs,” said Kellee Kam, group CEO of Alliance Bank. The bank is also assisting its employees affected by the flood to help them through this trying time.
The Flood Relief Assistance is open for application with immediate effect until 26 January 2024. It offers payment relief on all conventional loans and Islamic financing facilities. The Bank will also waive fees and charges for selected services such as replacement of debit card, ATM cards, cheque books and passbooks lost or damaged during the flood.
To find out more about the Flood Relief Assistance programme, affected customers may contact the bank’s Customer Service at 03-5516 9988 (consumer banking) or 1300-80-3388 (business banking). Alternatively, customers may contact their relationship managers directly.
Separately, under RHB’s Flood Relief Assistance Programme, eligible individual customers may apply for deferment of instalment payments for up to six months for mortgages, Amanah Saham Bumiputera Loan/Term Financing-i facilities, Personal Loan/Financing-i and Hire Purchase/-i.
Additionally, RHB is offering a waiver of up to six months for late payment charges and interest/actual management fee on affected Credit Card/-i, up to a total of RM500 from February until July 2024, as well as a card replacement fee waiver for all ATM, Debit Card/-i, and Credit Card/-i.
Eligible SME customers who are currently not enrolled under any existing restructuring and rescheduling programme by the Group may apply for a deferment of instalment payments for up to six months for Hire Purchase/-i, Term Loan/Financing-i, Overdraft/-i interest/profit, Multi Trade Line/-i bill payments and other existing financing facilities.
RHB will also be providing flood relief financing fund for SMEs, including deferment on instalments for new and existing SME customers, with financing facilities up to RM700,000 for a tenure of up to seven (7) years at a preferential rate.
“Following the recent floods that have disrupted thousands of lives across the country, the well-being of our customers and communities remains our topmost priority. We understand the financial pressure this difficult situation can bring and are committed to helping them ease their financial burden during these difficult times.
“Customers impacted by the floods are strongly encouraged to contact our Call Centre or respective relationship managers for further assistance on the Flood Relief Assistance Programme,” said Jeffrey Ng, managing director of group community banking, RHB Banking Group.