KUALA LUMPUR, Nov 23 — CIMB Bank Bhd and CIMB Islamic Bank Bhd have introduced an expanded targeted payment assistance programme (TPA), in line with the government’s recent announcement on additional assistance to B40 and micro-enterprise borrowers who have been affected by the Covid-19 pandemic.
In a statement today, CIMB Group said under the expanded TPA, eligible borrowers will be able to apply for a deferment of monthly instalments for three months or a 50 per cent reduction in monthly instalments for six months.
Group chief executive officer of CIMB Group Holdings Bhd Datuk Abdul Rahman Ahmad said the additional support was a timely solution in order to help alleviate the livelihoods of the most vulnerable communities and provide a lifeline to micro businesses during this challenging period.
“CIMB stands ready to assist and will continue to prioritise the financial well-being and economic resilience of our customers through our expanded TPA and other ongoing relief programmes.
“We are committed to delivering the best customer experience in the application process to give convenience to our customers,” he said.
CIMB said eligible borrowers can start to apply for the assistance from today (November 23) onwards, and it will take effect from the following month’s instalment upon a borrower’s request and confirmation of acceptance.
“The programme is available from December 1, 2020 to June 30, 2021 for facilities approved before October 1, 2020 and are not in arrears exceeding 90 days as at date of request.
“As part of the application process, individual customers will be required to provide a self-declaration and confirmation of acceptance, while eligible micro enterprises are encouraged to contact CIMB to apply for the programme and will only be required to provide a self-declaration that their turnover do not exceed RM300,000 or that they have less than five employees, via an e-form,” it said.
While this is an existing assistance programme, the process has been simplified as it will be based on borrowers’ self-declaration of reduced income for themselves and/or their households.
The bank may engage these customers at a later stage for documentation in order to review their financial circumstances, it said.
For further assistance, customers can call CIMB’s Contact Centre at +603 6204 7788 or email [email protected], while the Small and Medium Enterprises (SMEs) can call CIMB’s Business Call Centre at 1300 888 828 (local) and +603 2297 3000 (overseas) from Monday to Friday from 7am to 7pm and Saturday from 8am to 5pm (excluding public holidays). Non-SMEs and corporate customers may also contact their CIMB relationship manager to discuss financing options. For more information, visit https://www.cimb.com.my/en/personal/help-support/covid-19-support.html. — Bernama
