Bank Islam Hire Purchase Moratorium

Alternatively you can visit any of maybank s branches nationwide to find out more about the bank s repayment assistance packages.

Bank islam hire purchase moratorium. Bank islam will never request for internet banking account updating via e mail or disclosure of customers personal identification number login id password and i access code to third parties under any circumstance. For enquiries about hire purchase loan however you need to contact the nearest maybank auto finance centres or regional asset quality management instead. Financing you and your business. Further to bank negara malaysia s bnm announcement on 25 march 2020 banking institutions are in the process of formalising agreements which reflect the revised payment terms with borrowers customers with hire purchase hp loans and fixed rate islamic financing to give effect to the 6 month moratorium on loan financing payments.

Guide for consumer on reference rate. Bank customers with hire purchase hp loans and fixed rate islamic financing will receive a notification starting tomorrow on the steps they must take to complete the deferment process under the six month moratorium on loan and financing payments bank negara malaysia bnm said the borrowers and customers will be notified via sms email or registered mail from their. A bank staff speaks on the phone inside the bank islam branch office in shah alam outside kuala lumpur november 13 2013. Dont act upon spoof e mail.

On april 30 bnm released another statement to clarify the moratorium specifically for hire purchase loan and fixed rate islamic financing. This applies to those with housing fixed term overdraft and hire purchase loans however customers who are undischarged bankrupts or have financing in arrears for 90 days and more are not eligible for this aid. Save more with our non compounding charges credit cards. Kuala lumpur april 30 islamic banking institutions will be reaching out to their customers directly to provide greater clarity on the moratorium on islamic hire purchase and islamic fixed rate financing products.

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Form programs for bank islam card i. Bank islam debit card i. Individuals who have lost their jobs in 2020 and are still currently unemployed qualify for a 3 month moratorium extension from october to december 2020. Report any suspicious activity at 03 26 900 900.

In this new statement it says borrowers will be required to go through some steps based on the bank s instructions to complete the process of opting into the moratorium. Hire purchase aitab hire purchase i 6 months automatic moratorium hp moratorium to assist hirers affected by covid 19 updates pursuant to ministry of finance announcement on 6 may 2020 there will be no interest or charges on the deferred instalment.