Banks offers flood relief assistance to affected customers nationwide

Banks are offering relief assistance aims to alleviate the financial burden of customers impacted by the floods, which caused significant property damage. 

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is offering flood relief assistance to individuals, small and medium enterprises (SME) and other non-retail customers affected by devastating floods arising from heavy rainfall over the past few days.
The relief assistance aims to alleviate the financial burden of Maybank customers impacted by the floods, which caused significant property damage and made many roads impassable.
The flood relief assistance is designed to address the challenges the flood victims are facing and will include, amongst others, deferment of financing and loan payment, a reduction in monthly instalment or extension of repayment tenure.
Additionally, Maybank offers a waiver of fees and charges for selected services, such as replacing debit cards, ATM cards or cheque books lost or damaged during the floods.
It will also provide a waiver for late charges for affected customers’ credit cards.
Meanwhile, Maybank Group’s insurance arm, Etiqa, has put in place a quick and easy claim process for its insurance policyholders and takaful certificate holders, with no forms or supporting documents required.
On-site claims for amounts less than RM20,000 will be approved instantly.
Apart from claims, Etiqa is also assisting flood victims by distributing relief packets to affected areas.
“Given the significant impact arising from yesterday’s flood, it is crucial for us to render assistance through any means possible to our communities and employees so that we may overcome this challenging period together,” said Maybank group president and chief executive officer Datuk Sri Abdul Farid Alias.
“We have granted paid leave on 20 December for affected employees in Federal Territory of Kuala Lumpur, Selangor and other areas affected by the floods in line with our mission of Humanising Financial Services,” he said.
AmBank Group is also rolling out targeted assistance for customers affected by the floods nationwide.
This programme provides targeted assistance to eligible customers who are struggling with the after-effects of the floods.
Customers are offered a moratorium of up to six months for all loans and financing facilities, including credit card facilities, with no late or penalty charges imposed during the moratorium period.
Furthermore, customers seeking replacement of passbook, cheque books, fixed deposit certificates, ATM, credit and debit cards will be waived of all incidental and replacement charges to help ease their burden.
“It is indeed a challenging time for our fellow Malaysians.
“The bank is committed to providing flood assistance to all our affected customers through our flood relief programme,” AmBank Group group chief executive officer said Datuk Sulaiman Mohd Tahir said.

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