KUALA LUMPUR: United Abroad Financial institution (Malaysia) Bhd (UOB Malaysia) is offering aid measures similar to versatile repayments to its prospects in Malaysia affected by the outbreak of Covid-19.
The financial institution mentioned these measures affirmed its dedication to face by its prospects by all market situations and to lending help to the initiatives put in place by Financial institution Negara Malaysia to assist affected companies and people
UOB Malaysia mentioned for its company shoppers, particularly the small- and medium-sized enterprises (SMEs), and particular person prospects, it could present extra flexibility of their money circulate administration to ease their monetary burden.
The aid measures launched by UOB Malaysia for each its typical and Islamic banking prospects embrace:
• Moratorium on their mortgage repayments for as much as one 12 months;
• Flexibility to request extension of commerce payments maturing between March 18 and 31 2020 for shoppers with good monitor data. Purchasers may select to repay their commerce repayments on the authentic maturity date;
* Functions for the government-administered Particular Reduction Facility by UOB Malaysia; and
* Evaluate to grant extra amenities primarily based on shoppers’ financing wants for many who want entry to extra financing.
Reduction measures for affected particular person prospects embrace:
* Moratorium of as much as six months on their private loans, mortgages and bank cards;
* Curiosity-only repayments or cost vacation of as much as six months on bank card repayments; and
• Lodging of requests by prospects to reschedule and to restructure their mortgages, private loans and bank card repayments.
UOB Malaysia CEO Wong Kim Choong mentioned the financial institution was dedicated to supporting and to serving to its prospects impacted by Covid-19 and we’ll reply swiftly in serving to them alleviate their monetary burden.”
UOB Malaysia’s measures for its prospects will probably be assessed and accredited on a case-by-case foundation. The Financial institution will proceed to guage its record of aid measures for each its typical and Islamic banking prospects to make sure it supplies them with the enough stage of help to assist them by this troublesome time.
Throughout this era, the financial institution inspired prospects to think about using the UOB Private Web Banking, UOB Enterprise Web Banking Plus and the UOB Mighty cell banking app as an alternative of constructing bodily visits to its branches.