Malaysia’s Public Bank offers 6-month moratorium to customers

This is in line with the Pemulih stimulus package announced by the government.

Customers of Malaysia’s Public Bank may opt-in for a 6-month moratorium, in line with the Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) stimulus package announced by the Prime Minister.

In line with the stimulus, the bank is offering a 6-month moratorium to individuals regardless of their income level, as well as microenterprises and small- and medium-sized enterprise customers who face loan repayment difficulty during the pandemic.

Apart from the 6-month moratorium, customers may also opt for a 50% reduction in their monthly instalment payment for six months, Public Bank said.

Opt-in submissions will be based on the customer’s self-declaration and no document is required.

Public Bank is also providing other rescheduling and restructuring of loan and financing arrangements as requested by customers.

Customers’ Central Credit Reference Information System records remained unaffected by any form of COVID-19 repayment assistance, the bank assured.

Customers can submit and process their moratoriums online through Public Bank’s digital platform, and may also contact the bank thru email or telephone. The Bank has reportedly set up special repayment assistance helpdesk lines to provide more efficient assistance to customers.