In line with the announcement of the Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (PEMULIH), those who can't pay their debts may start applying for a six-month moratorium from 7 July 2021 onwards.
Bank Negara Malaysia has assured that borrowers — individuals, microenterprises and small-medium enterprises — opting in for the moratorium or any other repayment package will be easy. They won't need to provide any supporting documentation and approval will be given automatically.
Banks will also offer a reduction in instalments and other packages, including to reschedule and restructure financing to suit the specific financial circumstances of borrowers.
Plus, borrowers’ Central Credit Reference Information System (CCRIS) records will not be affected by any form of repayment assistance received in 2021.
Here's a complete listing of 20 banks that offer moratoriums for SMEs whose incomes were affected by the pandemic and how to apply for it.
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1. RHB Banking Group
Who is eligible: Micro-enterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months*
*This is not applicable for accounts under progressive release, interest serving only, Overdraft, Multi Trade Line and HP/i-HP facilities.
Eligible Facilities include:
- Term financing
- Term financing that have been converted from Trade bills, Bank Guarantees or overdraft facilities
- Special Relief Facility financing with repayment starting from Aug 2021 onwards Trade bills
- Overdraft facility (applicable only to balances in excess of approved limits, which are contractually due for repayment)
Application Duration: 7 July 2021 onwards
How to apply:
- Online form submission: apply here
- Call your existing RHB Relationship Manager or dedicated SME Help Desk at 03-9280 6270 / 03-9280 6416 / 03-9280 6391
- Email at sme.collection@rhbgroup.com
For more information: RHB Moratorium FAQ | RHB Moratorium Website
2. OCBC Bank (Malaysia) Bhd
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What OCBC offers:
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Application Duration: 7 July 2021 onwards
How to apply:
- Online form submission: apply here
- Contact OCBC Business Banking Customer Service Centre Hotline at 603-8317 5200.
- For OCBC Premier Banking client, you may contact your dedicated Relationship Manager for assistance.
For more information: OCBC Moratorium FAQ | OCBC Moratorium Website
3. CIMB Group Holdings Bhd
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
Eligible Facilities: Loan/Financing that were approved on or before 30 June 2021 and remain performing (not in arrears exceeding 90 days as at date of application by customer).
- Term Loan/Financing-i
- Term Loan/Financing-i that have been converted from trade
- bills/Islamic trade bills; Bank Guarantee/-i; or
- Overdraft/Cash Line-i facilities
- Hire Purchase extended to Non Individuals (SME)
- Blanket Hire Purchase
- Block Discount Hire Purchase
- Industrial Hire Purchase
- Credit Card
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Application Duration: 7 July 2021 onwards
How to apply:
- Online form submission: apply here
- Contact CIMB Business Call Centre at 1300- 888 - 828 (Local) or +603 2297 3000 (Overseas)
- Email CIMB Business at mybusinesscare@cimb.com
For more information: CIMB Moratorium FAQ | CIMB Moratorium Website
4. Affin Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
Important note:
- AFFIN Bank DO NOT SUPPORT automatic moratorium. Customers would need to contact AFFIN BANK/AFFIN ISLAMIC to request assistance for the NRA 2.0 Program.
Eligible Facilities:
Eligible conventional loan and Islamic facilities are as follow:
- Term Loan/Term Financing-i
- Overdraft/Cash Line-i
- Trade Facilities* (Banker Acceptance/Islamic Accepted Bills-i, Trust Receipt/Trust Receipt-i, Flexi Trade Loan/Flexi Trade Financing-i, Bank Guarantee/Bank Guarantee-i).
*for Overdraft/Cash Line-i facilities, the NRA 2.0 Program applies to the balances in excess of the approved limit as the excess amount is contractually due for repayment/payment.
** for Trade Facilities where the facilities’ tenure cannot be extended,
an alternative may be provided to convert into other financing.
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Application Duration: 7 July 2021 onwards
How to apply:
- Online form submission: apply here
- Contact Affin Relationship Manager or Affin Contact Centre at 03-8230 2222
- E-mail to Community Banking - affin_assist@affinbank.com.my / SME Banking – smecare@affinbank.com.my / Corporate Banking - corpbank.enquiry@affinbank.com.my
For more information: AFFIN Moratorium FAQ | Affin Moratorium Website
5. Malayan Banking Bhd (Maybank)
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Eligible Facilities:
- Term Loan/Financing-i
- Business Hire Purchase Loan/Financing-i
- Overdraft/Cashline-i (Option 1 only)
- Tradeline Loan/Financing-i (Option 1 only)
Application Duration: 7 July 2021 onwards
How to apply:
- Login to Maybank2u Biz to submit request (Available from 20 July 2021): apply here
- Contact Maybank Customer Careline at 1-300 88 6688 (Malaysia) or +603-7844 3696 (Overseas), press *1 for Repayment Assistance
- Email Maybank at SMErelief@maybank.com. Click here to view the information to be included in your email.
For more information: Maybank Moratorium FAQ | Maybank Moratorium Website
6. Public Bank Bhd
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
Targeted Repayment Assistance (TRA) for Individuals and Business Customers
What can you opt in for:
- Option 1: To pay 25% of the existing monthly instalment for 6 months
- Option 2: To pay 50% of the existing monthly instalment for 6 months
- Option 3: To pay 75% of the existing monthly for 6 months
- Option 4: Any reschedule and restructure arrangement proposed by customers
Important Notes:
- Available to all individual(s) and all SMEs customers (exclude credit-impaired and bankrupt/wound-up company); and
- Performing Loan/financing less than 90 days overdue.
- Loan/financing tenure will be extended accordingly with interest or profit /rental accrued at prevailing contracted interest/ profit/rental rate at the point of TRA.
- For 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.
Application Duration: 7 July 2021 onwards
How to apply:
- Digital request OPT-IN to prevent credit impaired status: apply TRA here
- Manual request OPT-IN, you may download the form here and email the completed form to any PBB/PIBB Branches/Credit Control Centres with the full information with self-declaration (No documents are required).
For more information: Public Bank TRA FAQ|Public Bank TRA Website
Expanded Targeted Repayment/Payment Assistance (ETRA) for All Individual(s) and All SMEs
What can you opt in for:
- Option 1: 6 months deferment repayment/ payment (zero instalment)
- Option 2: 6-month 50% reduction of existing monthly instalment/ interest/ profit/ rental
Important Notes:
- Loan/financing tenure will be extended for 6 months (Option 1) and 3 months (Option 2).
- All instalment in arrears (up to 3 months) (if applicable) shall be zerorised and continue to form part of the loan/financing outstanding amount.
- The repayment assistance selected will not appear in CCRIS.
How to apply:
- Digital request OPT-IN to prevent credit impaired status: apply ETRA here
- Manual request OPT-IN, you may download the applicable forms below to any PBB/PIBB Branches/Credit Control Centres with the full information with self-declaration (No documents are required):
- SME (Non-Trade Bills) - Manual Request OPT-IN Confirmation Form.pdf
- SME (Trade Bills) - Manual Request OPT-IN Confirmation Form.pdf
- SME (SRF 2020) - Manual Request OPT-IN Confirmation Form.pdf
For more information: Public Bank ETRA FAQ | Public Bank ETRA Website
Public Bank Credit Control Centres (CCC) Contact Details:
- Wilayah CCC: 03 - 2176 7470 | WCCC@PUBLICBANK.COM.MY
- Selangor CCC: 03 - 2176 7470 |SCCC@PUBLICBANK.COM.MY
- Klang CCC: 03 - 3342 2467 |KCCC@PUBLICBANK.COM.MY
- Melaka CCC: 06 - 288 1518 |MCCC@PUBLICBANK.COM.MY
- Seremban CCC: 06 - 766 5555 | SRBCCC@PUBLICBANK.COM.MY
- Johor CCC: 07 - 222 2949 | JCCC@PUBLICBANK.COM.MY
- Penang CCC: 04 - 262 3376 |PCCC@PUBLICBANK.COM.MY
- Ipoh CCC: 05 - 253 0000 | ICCC@PUBLICBANK.COM.MY
- Kota Kinabalu CCC: 088 - 487 169 | KKCCC@PUBLICBANK.COM.MY
- Kuching CCC: 082 - 366 976 | KCGCCC@PUBLICBANK.COM.MY
- Sungai Petani CCC: 04 - 455 8000 |SPICCC@PUBLICBANK.COM.MY
- Sibu Regional Centre: 084 - 333 888 |SRO@PUBLICBANK.COM.MY
- PBB helpdesk: 03-2176 6008 |COVID19RNR@PUBLICBANK.COM.MY
- PIBB helpdesk: 03-2176 6086 |ISLAMICBKG@PUBLICISLAMICBANK.COM.MY
7. Bank Rakyat
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Application Duration: 7 July 2021 onwards
How to apply:
- To apply online, click here
- For further inquiries, please call Bank Rakyat Call Centre at 1300-800-800 or email to bankrakyatrnr@bankrakyat.com.my
For more information: Bank Rakyat Moratorium FAQ | Bank Rakyat Moratorium Website
8. Bank Islam
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: To defer monthly instalments for 6 months
- Option 2: To reduce monthly instalments by 50% for 6 months
Eligible Facilities:
- Term Financing Facilities (Option 1 & 2)
- Revolving Credit & Cash Line Facilities (Option 1)
- Trade Facilities (Option 1)
Important Notes:
- The application for the PRA is made available upon request supported with the SME financing
facility(ies) that meet the criteria to qualify for the deferment. - For application, SMEs are required to fill up “application and self-declaration form” to opt into
repayment assistance and submit to sme-assist@bankislam.com.my
Application Duration: 7 July 2021 onwards
How to apply:
- To apply, you may contact your Relationship Managers or email directly to us at sme-assist@bankislam.com.my
- For further inquiries, you may contact Bank Islam Contact Centre at (6) 03-26 900 900 or email contactcenter@bankislam.com.my
For more information: Bank Islam Moratorium FAQ | Bank Islam Moratorium Website
9. BSN
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: Six (6) months of Moratorium, which is deferment of monthly instalment
- Option 2: 50% Reduction of Monthly instalments for six (6) months
- Option 3: Restructuring for Hire Purchase and Fixed Rate Loans/Financing.
Important Notes:
- Financing / Loan not in arrears for more than 90 days as of application date
- Financing / Loan approved before or on 30 June 2021
- Not applicable to individuals under a bankruptcy charge, or businesses that are subject to a winding up process.
Application Duration: 7 July 2021 onwards
How to apply:
- BSN Repayment Assistance Online form: Apply here
- Customers may call BSN Contact Centre at 1300-88-1900
- Email BSN Customer Care at customercare@bsn.com.my
For more information: BSN Moratorium FAQ | BSN Moratorium Website
10. Ambank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Important Notes:
- Interest/Profit continues to accrue
- Ambank can recover the interest/profit from changes in instalment payments
Eligible Facilities:
Any of the following loans/financing facilities which was approved before 1 July 2021 and remain performing, i.e., not in arrears exceeding 90 days as at the date of application by the customer:
- Housing Loan/Financing
- Personal Loan/Financing-i (Government Civil Servant / Angkasa)
- Vehicle Loan/Financing
- Hire Purchase Loan/Financing
- Credit Card/Credit Card-i
- Term Loan / Financing-i secured by ASB/ASB2 Certificate
- Term Loan/Financing that has been converted from Credit Card/Credit Card-i balances
- SME Working Capital Term Loan/Financing
- SME Business Property Loan/Financing
- Overdraft/Cash Line Facility-i
Application Duration: 7 July 2021 onwards
How to apply:
- Ambank Repayment Assistance Online form: Apply here
- Reach out to your Ambank Relationship Manager or call Corporate Services Centre at 03-21783188 which operates daily, Monday to Thursday (8:45 a.m.- 5:45 p.m.) and Friday (8:45 a.m.- 4:45 p.m.)
For more information: Ambank Moratorium FAQ | Ambank Moratorium Website
11. Standard Chartered Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for: 6 months deferment of instalments/ payments
Eligible Facilities:
The following products which applications were approved on or before 30 June 2021 and remain performing (not exceeding 90 days in arrears) will be eligible for Repayment/Payment Assistance Programme:
Non-Islamic Products
- Personal Loan (Quick Cash Edge & CashOne)
- Residential and Commercial Mortgage
- Business Instalment Loan / Guaranteed Instalment Loan
- Term loan that have been converted from credit card balances (ABC)
- Trade Facilities – Please reach out to your Relationship Manager to explore the best options that suits your current financial needs.
Islamic Products
- Personal Financing-i
- Saadiq MyHome-i / Saadiq MyHomeOne-i
- Saadiq BBA JustHome-i
- BizProperty Equity-i
- Business Financing-i / Guaranteed Instalment Financing
- Trade Facilities – Please reach out to your Relationship Manager to explore the best options that suits your current financial needs.
Application Duration: 7 July 2021 onwards
How to apply:
- Chat with Standard Chartered online via Click to Chat at sc.com/my
- Call Standard Chartered Client Care Centre at 1300 888 888 (within Malaysia) or +603 7711 8888 (outside Malaysia); or visit your nearest branch.
- For Trade Facilities & CCIB clients, please reach out to your Relationship Manager to
explore the best options that suits your current financial needs.
For more information: Standard Chartered Moratorium FAQ | Standard Chartered Moratorium Website
12. Bank Muamalat
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Application Duration: 7 July 2021 onwards
How to apply:
- Muamalat Repayment Assistance Online form: Apply here
- Contact Bank Muamalat Call Centre at 03-2600 5500 or visit your nearest branch
- Email to feedback@muamalat.com.my
For more information: Muamalat Moratorium FAQ | Muamalat Moratorium Website
13. Citibank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
*not applicable to amortizing revolving mortgage / Overdraft products / Citibank Home Financing-I and Ready Credit
Important Notes:
- Financing / Loan not in arrears for more than 90 days as of application date
- Financing / Loan approved before or on 30 June 2021
- Not applicable to individuals under a bankruptcy charge, or businesses that are subject to a winding up process.
Application Duration: 7 July 2021 onwards
How to apply:
- Citibank Repayment Assistance Online form: Apply here
- Customers may call CitiPhone at 03-2383 0000
For more information: Citibank Moratorium FAQ | Citibank Moratorium Website
14. Alliance Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Important Notes:
- Only for customers whose loans/financing are approved on or before 30 June 2021, and remain performing (not in arrears exceeding 90 days) on the date of application.
- Micro-SMEs as defined in the Guideline on SME Definition issued by SME Corporation Malaysia. This applies to businesses across all sectors with sales turnover of less than RM300,000 or have less than 5 full-time employees.
Application Duration: 7 July 2021 onwards
How to apply:
- Alliance Bank Payment Relief Assistance Repayment Assistance Online form: Apply here
- Customers may call Alliance Bank Contact Centre at 1-300-80-3388
- Email at info@alliancefg.com
For more information: Alliance Bank Moratorium FAQ | Alliance Bank Moratorium Website
15. Kuwait Finance House (KFH Malaysia)
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Important Notes:
- Any ETRA Program taken will not affect the status of Central Credit Reference Information System (CCRIS) record
- Please continue to pay your normal instalment while waiting for the outcome of your ETRA application
- For Automobile Financing and Personal Financing facilities, new documents or agreements are required to be signed in accordance with the legal and Shariah requirements before the assistance can take effect
- It is important for you to be aware that the ETRA will result in additional financing cost as your financing tenure will be lengthened or your instalment amount could be increased
- With the extension of facility tenor, your Takaful coverage will end as per your original financing facility. Therefore, there is a RISK OF NO COVERAGE during the extended tenor. Please make arrangements for the coverage.
Application Duration: 7 July 2021 onwards
How to apply:
- You are required to download the form here and email it to MYKFH@KFH.COM.MY
- Customers can call 1 300 888 534 (from 8am to 8pm) or enquire further via email: MYKFH@KFH.COM.MY
For more information: KFH Moratorium FAQ | KFH Moratorium Website
16. AgroBank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Application Duration: 7 July 2021 onwards
How to apply:
- PEMULIH SME Online form: Apply here
- Contact Agro Bank Call Centre at 1-300-88-2476
- Email to customer@agrobank.com.my
For more information: Agrobank Moratorium FAQ | Agrobank Moratorium Website
17. Hong Leong Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ moratorium
- Option 2: 50% reduction of instalments for 6 months
- Option 3: 6-month deferment of payment due (including deferment of schedule reduction)
- Option 4: 50% reduction on payments due for 6 months (including schedule reduction)
Eligible Facilities include:
Option 1 & 2
- Term Loan/Financing-i
- Home Loan/Financing-i
- Business Cash Loans
- Hire Purchase/ Financing-i
- Industrial Hire Purchase Loan/ Financing-i
Option 3 & 4:
- Revolving Credit/-i
- Trade Financing/-i
- Overdraft/Cashline-i
Application Duration: 7 July 2021 onwards
How to apply:
- Online application for HLB / HLISB Payment Relief Assistance Plan: apply here
- Contact your Hong Leong Bank Relationship Manager, or call 03-76268899
- Email PaymentRelief@hlbb.hongleong.com.my
For more information: Hong Leong Bank Moratorium FAQ | Hong Leong Bank Moratorium Website
18. SME Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for: 6 months deferment of instalments/ moratorium
Application Duration: 7 July 2021 onwards
How to apply:
- Online application for PEMULIH SME Bank: apply here
- SME Bank Customer Service Centre at 03-2603 7700
- Email to customercare@smebank.com.my
For more information: SME Bank Moratorium Website
19. MBSB Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months*
Important Notes:
- MBSB / MBSB Bank may request for documentation from the customer at a later stage for post ad hoc validation purposes.
- Customers will be informed from the onset, that supporting documents (e.g. pay slips, bank statements) may be requested later for validation purposes.
Eligible Facilities:
- Property Financing (inclusive owner occupied quasi-residential properties)
- Personal Financing
- Auto Financing/Hire Purchase
- Microenterprises/SMEs any credit facility; where payments of principal or profit is either scheduled at fixed intervals or to be settled in one-off lump sum payment
Application Duration: 7 July 2021 onwards
How to apply:
- MBSB Repayment Assistance Online form: Apply here
- Contact MBSB Customer Call Centre at 03-20963000
- Email to ecu.careline@mbsbbank.com
For more information: MBSB Moratorium FAQ | MBSB Moratorium Website
20. UOB Bank
Who is eligible: Microenterprises and SMEs that have been affected by the COVID-19 pandemic
What can you opt in for:
- Option 1: 6 months deferment of instalments/ payments
- Option 2: 50% Reduction of Monthly instalments for six (6) months
Important Notes:
- MBSB / MBSB Bank may request for documentation from the customer at a later stage for post ad hoc validation purposes.
- Customers will be informed from the onset, that supporting documents (e.g. pay slips, bank statements) may be requested later for validation purposes.
Eligible Facilities:
Any of the following credit facilities which were approved before 30 June 2021 and remain performing (not in arrears exceeding 90 days as at the date of application):
- Term loan/Term financing-i
- Term loan/ Term financing-i that have been converted from trade bills, Bank Guarantees or overdraft facilities
- Trade bills
- Overdraft
- SRF financing with repayment starting soon
Application Duration: 7 July 2021 onwards
How to apply:
- UOB Repayment Assistance Programme: Apply online
- Manual form can be downloaded here and email to Business Banking Microenterprises & SMEs: businessbanking.servicecentre@uob.com.my or Wholesale Banking SMEs: wholesalebanking@uob.com.my
- Call UOB Business Engagement Team hotline at 03-2616 6800 or Wholesale Banking Careline at 03-2387 6885 (Monday to Friday 9.00am to 5.30pm).
For more information: UOB Moratorium FAQ | UOB Moratorium Website
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