COVID-19 Updates and Support

In light of the COVID-19 pandemic, Bank Negara Malaysia had on 24 March 2020 announced additional measures to assist borrowers/customers affected. We sincerely hope this will provide some relief to our customers who are facing financial adversities to cope with challenges during this period.

WE ARE OFFERING AUTOMATIC SIX (6) MONTHS LOAN REPAYMENT DEFERMENT FOR INDIVIDUALS AND SMES

•

This is an AUTOMATIC offering; NO application is required.

•

If you DO NOT wish to defer your monthly repayments, please apply here.

FOR CORPORATE CUSTOMERS, PLEASE MAKE YOUR REQUEST FOR DEFERMENT DIRECTLY WITH THE BANK.

A.

ELIGIBILITY CRITERIA

1.

Available to all individuals, small and medium-enterprise and corporate customers.

2.

All Malaysian Ringgit loans or financing facilities with Public Bank Berhad & Public Islamic Berhad. Your loans or financing must be disbursed (fully or partially) and outstanding as at 1 April 2020.

3.

For properties under construction where loan/financing are partially disbursed and outstanding as at 1 April 2020.

4.

Loan or financing facilities that are in default or overdue for more than 90 days as at 1 April 2020 DO NOT qualify.

5.

Not applicable for credit card facility. For credit card customers, see below for alternatives.

B.

THINGS YOU NEED TO KNOW ABOUT THE LOAN AND FINANCING DEFERMENT
 

1.

HOW LONG IS THE DEFERMENT PERIOD?

Deferment period is from 1 April 2020 to 30 September 2020, i.e. six (6) months. After the end of six (6) months, your monthly payments will resume.
Please contact the Bank if you require a longer deferment period.
 

2.

DO I NEED TO MAKE ANY REPAYMENT, PAY LATE PAYMENT PENALTIES OR ANY CHARGES DURING THE DEFERMENT PERIOD?

No. If your loan or financing is currently under auto-debit arrangement via Standing Instruction (SI), the Bank will block the debiting throughout the Deferment Period. However, if your SI is through another Financial Institution (FI), please inform your FI accordingly.

If you opt out of the deferment, there will be no change to your SI arrangement.
 

3.

DO I NEED TO INFORM BIRO PERKHIDMATAN ANGKASA (BPA) TO DEFER MY LOAN/FINANCING?

No. You do not need to inform BPA. The deferment will be automatically effected by the Bank. However, if you wish to opt out of the deferment, please apply here.
 

4.

DO I HAVE TO PROVIDE PROOF THAT I HAVE BEEN AFFECTED BY COVID-19?

No.
 

5.

HOW WILL MY INTEREST/PROFIT CHARGES BE CALCULATED DURING THE DEFERMENT PERIOD?
 

• For loans with Public Bank Berhad, i.e. conventional loans: You will pay interest by deferring. However, there will be no compounding interest during this deferment period from 1 April 2020 to 30 September 2020. This means you will not be charged any interest on the interest that arises during the moratorium period.
   
• For loans with Public Islamic Berhad, i.e. Islamic financing: You will NOT pay more profit charges by deferring. Profit will continue to accrue on the outstanding principal amount. Such profit however will not be compounded in line with Shariah principles.

 

6.

WILL THIS DEFERMENT ADVERSELY IMPACT MY CCRIS RECORDS?

No impact on CCRIS records during the Deferment Period.
 

7.

WHAT IF MY LOAN OR FINANCING HAS BEEN RESCHEDULED OR RESTRUCTURED (“R&R”) BEFORE 1 APRIL 2020?

Loans and financing under R&R before 1 April 2020 are eligible for the deferment subject to meeting the Eligibility Criteria.
 

8.

IF MY LOAN/FINANCING IS CURRENTLY UNDER AGENSI KAUNSELING & PENGURUSAN KREDIT (AKPK) DEBT MANAGEMENT PROGRAMME, WOULD I STILL QUALIFY FOR DEFERMENT?

Yes. Similar to other loan/financing, interest/profit will continue to accrue on loan/financing payments that are deferred.
AKPK has agreed to give the 6 months deferment for loans and financing managed by them.
 

9.

IF A CORPORATE CUSTOMER IS GRANTED THE DEFERMENT, WOULD IT STILL BE ABLE TO GET NEW FINANCING FROM BANKS?

Yes. Approval of the new financing is subject to the Bank’s standard internal credit policies and assessment.
 

C.

THINGS YOU NEED TO KNOW ABOUT YOUR CREDIT CARD OUTSTANDING BALANCE
 

1.

Credit card balances conversion

• Your statement balance at the point of conversion can be converted into term loan of not more than three (3) years at an effective interest rate of 13% per annum. Please apply here.
  
  OR


• If you have not been meeting the minimum monthly repayment on your credit card consecutively for the last 3 months (not more than 90 days), the Bank will AUTOMATICALLY convert the outstanding balance into a term loan/financing of three (3) years at an effective interest rate of 13% per annum. This is applicable to all income level of the cardholders. The automatic conversion will only be done once.
   

2.

Credit cardholders who have already converted their card balances into a term loan/financing can request for 6 months loan/financing deferment. Loan/financing repayment will resume after the deferment period. To apply, please contact PB Card Services Hunting Line: 03 - 2176 8222.
 

3.

The outstanding balance converted into a term loan/financing is treated as part of your credit card limit. You can continue to use the remaining credit limit of your credit card.
 

4.

The monthly installment of your new term loan/financing will form part of your minimum monthly repayment amount on the credit card.
 

5.

There will no impact to your CCRIS record.
 

D.

RELIEF ASSISTANCE AFTER 6 MONTHS MORATORIUM

If borrower/customer is unlikely to be able to resume repayments/payments after the 6 months moratorium period ending 30 September 2020, please contact the Account Holding Branch for revised repayment/rescheduling & restructuring arrangement early in July/August 2020.

Let us know if you require further assistance. Kindly contact the Public Bank Helpdesk, Hunting Line from Monday to Friday (8.45 a.m. to 5.45 p.m.) at:

1.

Housing Loan/Term Loan/Fixed Loan/Overdraft/Bills Facilities
03-2176 7470
 

2.

Credit Card
03-2176 8222
 

3.

Islamic Financing
03 – 2177 3485 / 03 – 2177 3612 / 03 – 2177 3150 /
03 – 2176 7257 / 03 – 2176 3058 / 03 – 2176 7252
 

BAHASA MALAYSIA VERSION: Langkah-langkah untuk membantu pelanggan yang terjejas oleh Covid-19

CHINESE VERSION: 协助受新型冠状肺炎病毒（COVID-19）爆发事件影响之客户的措施

Hire Purchase & AITAB Hire Purchase-i 6-Months Automatic Moratorium (“HP Moratorium”) To Assist Hirers Affected by COVID-19

For further details, please refer to:
Frequently Ask Questions (FAQs)

(Updates pursuant to Ministry of Finance announcement on 6 May 2020)

There will be no interest or charges on the deferred instalment.

Should you decide to discontinue the HP Moratorium please notify your account holding branch in writing. You are then required to resume the monthly instalment payments immediately.

Public Bank and Public Islamic Bank are participating financial institutions of RM2.0 billion PENJANA SME Financing (PSF) Scheme to support Small & Medium Enterprises (SMEs) that are adversely impacted by the COVID-19 pandemic.

Salient features of the PSF:

• Loan / Financing up to RM500,000 per SME
• Financing rate of 3.5% fixed per annum

Terms and conditions apply.

PSF will be available in July 2020. For more information / application, please contact nearest Public Bank and Public Islamic Bank Branches.

Why online banking?

Watch the video below to learn more about the convenience of online banking can do for you.

Beware of COVID-19 Scams

Please be on the alert for any phone, emails and social media scams taking advantage of the COVID-19 situation. Remember, the Bank will never request for your banking details over the phone, message apps or email. Never share your personal and bank account details to anyone. Learn to fight against these scams by visiting our online security microsite.

Safety Precautions

Precautionary measures are in place to protect the safety and wellbeing of our customers and employees at all times.

• Frequent sanitization and cleaning at touch-points across all branches and buildings.
• Hand sanitizers will be provided for both customers and employees.

Cooperation is a key factor in maintaining public health safety. If you are feeling under the weather, fever, cough or shortness of breath, please avoid visiting the branches.

Thank you for your continued support in these trying times. Stay home, stay safe and bank safe.