by BERNAMA / pic by TMR FILE PIX
Hong Leong Bank and Hong Leong Islamic Bank will be providing additional targeted assistance to customers who foresee some difficulties in restarting their regular payments come October 2020 under the Bank’s Payment Relief Assistance Plans.
Under these plans, targeted payment assistance will be extended to individuals and small and medium enterprise (SME) customers based on their particular circumstances, it said.
Both the banks are encouraging their customers to reach out to them now so that they can plan their recovery journey early, and well ahead of Oct 1, 2020, the Bank said in a statement here, today.
The assistance plans include additional three-months payment deferment, based on the terms provided under the current moratorium, to borrowers who have lost their jobs as a result of the COVID-19 pandemic.
In cases where customers have suffered a reduction in income due to the pandemic, the Bank will extend a commensurate reduction in their monthly loan/financing instalment(s) for a period of six months, starting Oct 1, 2020.
The Bank will re-assess the customers’ financial position before the end of the six-month period to extend additional support to those that who still need further assistance.