1. What is this deferment or moratorium?
It is a temporary deferment or suspension of loan/financing repayment/payment obligation (principal and interest/profit) for a limited period of time. During this period, borrowers/customers with loan/financing that meet the conditions do not need to make any repayment/payment, and no late payment charges or penalties/compensation will be imposed.
2. What is the objective of the deferment?
The aim of this assistance is to provide some relief to businesses who face temporary financial constraints arising from the COVID-19 pandemic. We hope that this will help individuals and businesses facing financial adversities to cope with challenges during this period. Loan repayment/Financing payment resumes after the deferment period.
3. Do I qualify for the deferment of monthly payments?
All SMEs will automatically qualify for the deferment. If you do not need this deferment, kindly visit RHB Bank's Corporate Website and drop your details to continue paying the instalment as normal. If you have overdue amounts more than 90 days or you are not classified as an SME, you will have to call your respective RM for assistance.
4. Do I have to pay monthly?
Please contact the Bank to rearrange the payment schedule.
5. Do I qualify if I'm in currently in default?
If you have amounts due 90 days or more, this deferment is not applicable. Please contact the Bank for assistance.
6. Will Interest/profit rate be charged during the deferment?
Yes. Interest/profit will charged as per the agreed schedule.
7. What happens to my monthly payments after the 6 months deferment?
Please follow the payment schedule agreed with the Bank.
8. What happens to the tenure of my financing?
Limits are still subjected to yearly reviews as usual.
9. What if my financing is currently already restructured by the Bank?
You still qualify for deferment, please contact the bank for assistance on a new schedule.
10. Can I extend the deferment after the 6 months given by the Bank?
You will have to contact the Bank to consider a rescheduling.
11. Will this affect my CCRIS?
No. However, borrowers/customers are advised to contact the Bank to discuss on how to resume repayments after the deferment period.
All overdue amounts at point of deferment will still be maintained in CCRIS.
12. What will happen to the Standing Instruction I have given to the bank to deduct my account to pay for my loan/financing?
The Standing Instruction will automatically be cancelled. Those that have opted out, the SI will be reinstated. At the end of the deferment/moratorium period, the SI will be reinstated automatically.
13. What if I have created a recurring payment instruction via REFLEX cash management for my monthly financing payment?
If you intend to enjoy the deferment of loan repayment/financing payment, you will have to cancel the recurring payment instruction for your loan via REFLEX . If not, the payments will still continue and will be used to reduce your loan amount accordingly as if you have opted out.
14. Will new loan/financing be eligible for the deferment/moratorium?
Deferment/Moratorium is not applicable for this.
15. What if I want to continue paying my financing monthly?
As the deadline for SMS ended on the 5th of April 2020, you can contact us at 03-9206 8118 or leave your details with us on the form below.
This is an automatic deferment.
If you would like to continue your instalment as usual, please inform us by filling up the form here.