Bank extends relief assistance to customers

Wong Kim Choong

KUALA LUMPUR: United Overseas Bank (UOB) Malaysia has extended its Covid-19 Relief Assistance Programme for customers who are affected by the nationwide movement control order (MCO) 3.0

The bank in a statement on Friday stated that the programme is in line with the government’s recent Pemerkasa Plus aid package.

It said the relief assistance programme is now available to individuals who have lost their job due to the pandemic; individuals whose income has been adversely impacted due to the pandemic as well as individual customers who are registered under the government’s Bantuan Sara Hidup (BSH), Bantuan Prihatin Rakyat (BPR) or Bantuan Prihatin Nasional (BPN) aid programmes.

The relief assistance is also available for microenterprises with loan or financing facilities up to RM150,000; businesses including micro and small and medium sized enterprises (SMEs) that are not allowed to operate during the MCO 3.0 period and other businesses that require financial support to overcome difficult circumstances during this period.

UOB Malaysia chief executive officer Wong Kim Choong said the bank was providing its customers with a range of repayment relief assistance options such as a three-month repayment moratorium, reduced monthly repayment installments by 50 percent for a period of six months and reduced monthly repayment installments that commensurate with customers’ reduced income for a period of six months.

“In view of the prolonged impact of the pandemic on business and individuals, UOB Malaysia remains committed to supporting our customers in need of financial relief so that we can safeguard their livelihood.

“We will continue our efforts to tailor our relief assistance initiatives so that they are relevant to our customers’ specific circumstances. In helping our customers through these trying times, we will help them manage their financial situation and emerge stronger for the recovery to come,” he said.

He also said customers whose sources of income are affected by the MCO 3.0 are advised to contact the bank promptly to assess their financial situation and to determine a repayment option that suits them.

For more information on UOB Malaysia’s repayment relief scheme, customers can visit page.