UOB Malaysia is offering a six-month opt-in loan repayment moratorium for customers as part of the bank’s continuous effort to support customers who are financially impacted by the ongoing movement restrictions.
UOB Malaysia said approvals will be given automatically to alleviate individuals and businesses’ cash flow as quickly as possible during the pandemic.
“In addition to the moratorium, the bank is also offering the option of a 50 per cent reduction on monthly repayment instalments for six months, as an alternative for individuals, microenterprises, and small and medium enterprises to choose,” it said in a statement today.
Chief executive officer Wong Kim Choong said changes to the bank’s COVID-19 Relief Assistance Programme are part of a concerted industry effort and commitment to continue supporting individuals and businesses affected by the pandemic.
“As the country continues to be in lockdown under the National Recovery Plan Phase One, we remain cognisant that individuals and businesses will face financial challenges,” he said.