COVID-19 Repayment Assistance

Retail Loans/Financing Targeted Repayment Assistance (TRA) for Individuals and Business Customers


Available until 31 December 2021


If you are affected by the COVID-19 and require further financial assistance to repay your loan/financing monthly instalment/interest you can request OPT-IN for COVID-19 rescheduled repayment/payment arrangement.


A) TRA options. (The choice is yours and the repayment assistance selected will not appear in CCRIS)

(Pending system enhancement for digital Option 1 - 25% monthly repayment until Dec’21)

Option

Reduction in Income/
Cash Flow in 2021

Non-Digital

Digital

Digital &
Non-Digital

Jul’21 to Dec’21 (6 months)

Jul’21 to Sep’21 (3 months)

Oct’21 to Dec’21 (3 months)

Jan’22 onwards

1

50% or more reduction

25% of existing monthly loan/financing instalment

25% of existing monthly loan/financing instalment

50% of existing monthly loan/financing instalment

Resumption of existing monthly loan/financing instalments

2

25% to less than 50% reduction

50% of existing monthly loan/financing instalment

3

Less than 25% reduction

75% of existing monthly loan/financing instalment

4.

Other Option

(Non-Digital Request OPT-IN only)

HURRY UP! Request OPT-IN now to prevent credit-impaired status.


Notes:

  1. Loan/financing tenure will be extended accordingly with compounding interest or accrued profit /rental at prevailing contracted interest/ profit/rental rate at the point of TRA.
  2. For 1st TRA request OPT-IN, instalment (ijarah rental) in arrears (up to maximum 3 months) (if applicable) shall be zerorised and continue to form part of the loan/financing outstanding amount.

B) TRA eligible criterias:

  1. Available to targeted eligible individuals (B40/M40/T20) and small and medium-enterprise (SME) customers (exclude credit-impaired and bankrupt/wound-up company); and
  2. Performing Loan/financing less than 90 days overdue.

C) TRA Standard Turnaround Time

A decision on your request OPT-IN shall be reverted to you within standard turnaround time as follows upon receipt of your request OPT-IN with full information with self-declaration (No documents are required):

Type of Account

Standard Turnaround Time

B40 / M40 / T20

5 calendar days

Small and Medium SME

10 calendar days

D) Request OPT-IN Here for TRA/Multiple TRA

D (I) Digital Request OPT-IN

Watch this Video to understand steps taken to complete digital request OPT-IN form.


(To be updated shortly)


CLICK HERE, to promptly request OPT-IN.



Notes:

Digital request OPT-IN for TRA is NOT applicable for :

  1. Trade Bills, Overdraft, Cash Line Facility-i, Islamic Fixed Rate Financing, AKPK account under Debt Management Programme (DMP), Non-SME, Credit Guarantee Corporation Malaysia Berhad (CGC)/Syarikat Jaminan Pembiayaan Perniagaan (SJPP) guaranteed loans/financing.
  2. Borrowers/Customers who do not receive PBB/PIBB SMS invitation.

You may print and complete the non-digital/manual request OPT-IN form and submit to any PBB/PIBB Branches/Credit Control Centres for approval.

Requirements for Digital Request OPT-IN for TRA/ multiple TRA

  1. All customers must maintain valid Hand Phone Number(s) (HP) with the Bank for identity authentication prior to the request OPT-IN for standard TRA options.
  2. All customers must provide valid authenticated email address(es) at the point of request OPT-IN for digital acceptance of Supplementary Letter of Offer (SLO) via PBB/PIBB website within 7 calendar days from the date thereof which may be extended at the Bank’s discretion.
    The Bank could terminate the above approved offer if you still fail to accept the SLO within 30 calendar days from the date of this SLO.
  3. Authorized/empowered keyman(s)/director(s)/partner(s) of SME customers with valid HP number(s) per Bank’s record must provide valid authenticated email address(es) for digital acceptance of SLO via PBB/PIBB website within 7 calendar days from the date thereof which may be extended at the Bank’s discretion.

Important Note:
Please take note that successful digital request OPT-IN would provide you with electronic email decision within the same day of your digital request OPT-IN without hassle.


D (II) Non-Digital Request OPT-IN

Unable to request OPT-IN digitally? No worries.

You may print and complete the non-digital/manual request OPT-IN form relevant to you below and submit to any PBB/PIBB Branches/Credit Control Centres with the full information with self-declaration (No documents are required).

[Single Individual] Manual Request OPT-IN Form.pdf

[Joint Individuals] Manual Request OPT-IN Form.pdf

[Business] Manual Request OPT-IN Form.pdf


E) FAQs on TRA

 

 

General notes for TRA Arrangement :

  1. TRA will result in a higher overall financial costs at prevailing contracted interest / profit/rental rate at the point of TRA due to reamortised / extended loan/financing tenure.

    You may contact your Account Holding Branch or Credit Control Centre to revise the approved/accepted TRA should your financial circumstances improves in order to reduce the overall financial costs in due course.

    Alternatively, you may refer your case to Agensi Kaunseling Dan Pengurusan Kredit (AKPK) established by Bank Negara Malaysia (BNM) to provide free services on money management, credit counselling, financial education and debt restructuring.For enquiry, please call AKPK @ 03-2616 7766 or visit AKPK customer portal at www.akpk.org.my

  2. The existing insurance policy (if any) do not cover the loan/financing extension period arising from the TRA granted / accepted by you. Please liaise with your respective insurance/Takaful company on the extension of the insurance/Takaful coverage.

  3. The revision to the terms and conditions is to comply with the latest ruling by the Shariah Advisory Council of Bank Negara Malaysia (SAC) for Islamic financial institutions to exercise the principle of beneficence (ihsan), in respect of capitalisation of accrued profit in restructuring and rescheduling (R&R) exercise undertaken by affected customers. Profit/rental rate will continue to accrue on non-Compounding basis in accordance to Shariah Principle.