PETALING JAYA: CIMB Bank and CIMB Islamic Bank has assisted over 250,000 individual and SME customers under its payment assistance programme since it was launched on July 7, 2021, in line with the government’s Pemulih aid package.
The assistance has an approval rate of virtually 100%.
CIMB group CEO Datuk Abdul Rahman Ahmad revealed that through a digital application system it has already processed over 250,000 opt-ins within a five-week span, with more than 170,000 submissions on the first week of application alone.
“We continue to urge customers who are affected by the pandemic and in need of assistance to reach out to us, where they can be assured of a swift and easy opt-in process,” he said in a statement today.
To facilitate this, the bank has put up a fully digital eForm on its website’s dedicated Covid-19 support page. In addition, customers can also opt-in via mail, phone or physically via our bank branches.
CIMB also offers customers alternative options to choose from, such as a 50% reduction in instalments for six months on credit facilities such as mortgages, ASB loans/ financing and variable rate credit facilities.
Furthermore, customers can also opt for a three-month moratorium for their hire purchase facilities and those with outstanding credit card balance can convert it into a three-year term loan financing with reduced interest to help them manage their debt.
Apart from the program, the bank pointed out that other financial assistance packages are also available, including the rescheduling and restructuring of loans or financing to suit the specific financial circumstances of its customers.
CIMB outlined that it will not charge any compounding interest or profit, penalty or late charges during the period of assistance. It also assured customers any financial assistance will not affect their Central Credit Reference Information System status.