Payment Relief Assistance for Individuals, SMEs & Microenterprises
Overview of Payment Relief Assistance
In line with the announcement of Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) on 28/6, HLB/HLISB will continue to offer assistance to individuals including B40, M40, T20 and SME & Microenterprises who experience difficulties in making loan & financing payments due to financial challenges caused by Covid 19.
Note :
i) Customers’ loan/financing accounts under Payment Relief Assistance will not be reported as Rescheduled and Restructured (R&R) in CCRIS.
ii) Interest/profit will continue to be charged but not compounded during the deferment period
iii) Only loans/financing that were approved before 1st July 2021 and not in arrears exceeding 90 days as at date of application are eligible for the Payment Relief Assistance Plan.
iv) If your loans/financing are not eligible for the Payment Relief Assistance Plan, please contact us at the details listed below for further enquiries.
If you need to discuss further, please contact us on any of the channels below:
| Contact for Individual Customers | Contact For Business Customers (SMEs & Corporates) |
|---|---|
HLB/HLISB Payment Relief Assistance Plan Tel: 03 7959 1888 (Monday – Thursday 8:45 a.m. – 5:45 p.m.; Friday 8:45 a.m. – 4:45 p.m.)
or
HLB/HLISB Contact Centre Tel: 03 7626 8899 (Monday – Saturday 9:00 a.m. – 6:00 p.m.)
or
Email enquiries: PaymentRelief@hlbb.hongleong.com.my
or
Visit Your Nearest HLB/HLISB Branch (Monday- Thursday 9:15am - 4:30pm; Friday 9:15am - 4:00pm) Kelantan & Terengganu (Sunday- Wednesday 9:15am - 4:30pm; Thursday 9:15am - 4:00pm) |
HLB/HLISB Contact Centre Tel: 03 7626 8899
(Monday – Saturday 9:00 a.m. – 6:00 p.m.)
or
Email enquiries: sme@hlbb.hongleong.com.my
or
Contact your Relationship Manager to discuss the recovery phase of your business. |
If you require an independent assessment of your situation
Agensi Kaunseling dan Pengurusan Kredit has been established by Bank Negara Malaysia to provide free services on money management, credit counselling, financial education and debt restructuring for individuals and small and medium enterprises (SMEs).
Please call 03-2616 7766 or visit AKPK customer portal at www.akpk.org.my
For enquiries, please call 03-2616 7766
A brief description of the Payment Relief Assistance Plans For All individual customers
Individual customers can choose from 2 types of relief assistance plans:
1. Pemulih Plans
2. HLB/HLISB Payment Relief Assistance Plans (PRAP)
Please refer to the below tables for more details on both options:
1. Pemulih Plans
Available Plans |
Loans/Financing Type |
Acceptance Required after Approval? |
Documents Required For Submission |
|---|---|---|---|
A - 6 months deferment of instalments/moratorium B - 50% reduction of instalments for 6 months
Note : • Interest/profit will continue to be charged but not compounded during the deferment period.
For details,refer to the FAQ 1
|
• Home Loan/Financing-i • Term Loans (including conversion from credit cards) • Overdraft/cashline-i |
NO |
No documents required |
• Autoloan/Financing-i (Hire Purchase) • Personal Loan/Personal Financing-i Tawarruq T&C |
YES Customers are required to follow instructions in the email after approvals to accept the Supplementary Offer Letter |
2. HLB/HLISB PRAP
Available Plans |
Loans/Financing Type |
Acceptance Required after Approval? |
Documents Required For Submission |
|---|---|---|---|
Pay Interest/Profit only for 6 months, with reduced interest/profit rate |
|
NO |
At least 1 of the following (whichever applicable) will be required to support the application:
|
50% reduction of instalments for 6 months |
|
NO |
|
| Reduced instalment with reduced interest/profit rate and an extended loan tenure for 2 years |
|
YES Customers are required to follow instructions in the email after approvals to accept the Supplementary Offer Letter |
|
| Note: Interest/profit will continue to be charged but not compounded during the deferment period. For details, refer to the FAQ 1A |
|||
If the options above are not suitable for your financial situation and you wish to discuss other options, please call 03-7959 1888 or email PaymentRelief@hlbb.hongleong.com.my
For Credit Cards
Loans/Financing |
Type of Assistance Plans (started since April 2020) |
Individual Customers |
|---|---|---|
Credit Cards
|
Convert your outstanding credit card balance into a term loan through the HLB Credit Card Relief Conversion Plan. You have the option to opt-in for a 36-month instalment plan at an effective interest rate of 13%p.a. (Flat interest rate 7.1%p.a.) |
To apply : Log in HLB Connect > Apply > Credit Card Services > Relief Conversion Plan |
Customers who have already converted your credit card balance into a term loan, but are now unable to continue instalment payments due to Covid 19, can also apply for a Payment Relief Assistance Plan.
CLICK HERE to apply.
Frequently Asked Questions
A brief description of the Payment Relief Assistance Plan for SMEs & Microenterprises
SMEs & Microenterprises can choose from 2 types of relief assistance plans:
1. Pemulih Plans
2. HLB/HLISB Payment Relief Assistance Plans (PRAP)
Please refer to the below for more details on both options:
1. Pemulih Plans
Available Plans |
Account/Financing Type |
Acceptance Required after Approval? |
Documents Required For Submission |
|---|---|---|---|
A - 6 months deferment of instalments/ moratorium B - 50% reduction of instalments for 6 months
Note : • Interest/profit will continue to be charged but not compounded during the deferment period.
For details,refer to the FAQ 2
|
• Term Loan/Financing-i • Home Loan/Financing-i • Business Cash Loans |
NO |
No documents required |
• Hire Purchase/Financing-i • Industrial Hire Purchase Loan/Financing-i |
YES Customers are required to execute a variation agreement after the plan is approved |
||
C - 6-month deferment of payment due (including deferment of schedule reduction) D - 50% reduction on payments due for 6 months (including schedule reduction)
Note: Interest/profit will continue to be charged but not compounded during the deferment period.
For details,refer to the FAQ 2 |
• Revolving Credit/-i • Trade Financing/-i • Overdraft/Cashline-i
|
NO |
2. HLB/HLISB PRAP
Plans |
Product type |
Acceptance Required after Approval? | Documents Required For Submission |
|---|---|---|---|
|
|
No
|
Any one (1) of the following to support the application:
|
|
|
No
|
|
|
Yes Customers are required to execute a variation agreement after the plan is approved. |
||
50% reduction on payments due for 6 months (including scheduled reduction) |
|
No
|
|
Others
|
|
No |
|
|
Yes Customers are required to execute a variation agreement after the plan is approved. |
||
| Note: Interest/profit will continue to be charged but not compounded during the deferment period. |
|||
If the options above are not suitable for your financial situation and you wish to discuss other options, please contact your Relationship Manager, or call 03-7626 8899 or email PaymentRelief@hlbb.hongleong.com.my
Frequently Asked Questions
ONLY for individual & SME customers who have already applied for, and wish to accept your Payment Relief Assistance Plan according to the email you received from HLB/HLISB:
Financial Management and Resilience Programme (URUS)
In line with the announcement by The Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and Association of Development Finance Institutions of Malaysia (ADFIM), HLB/HLISB continues to provide support for the most vulnerable segment of individual customers through the Financial Management and Resilience Programme (Program Pengurusan & Ketahanan Kewangan, URUS) with Agensi Kaunseling dan Pengurusan Kredit (AKPK). This program is designed to help eligible B50 customers alleviate their financial difficulties caused by Covid 19.
URUS is available for customers who meet the following criteria:
- Are from the B50 income segment. i.e. customers with a household income of RM5,880 or lower, based on the definition by the Department of Statistics of Malaysia (DOSM). Evidence of household income will be required for customers who are not registered recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR).
- Are already under the Bank’s existing Payment Relief Assistance Plans as at 30 September 2021.
- Have experienced either:
- loss of employment; or
- reduction of income of at least 50%. - Whose loan/financing is still performing (not in arrears exceeding 90 days) as at the date of their application.
Under URUS, AKPK will provide bank customers personalised financial plans that are developed holistically, taking into account the customer’s financial circumstances and ability to afford repayment of all their financing obligations. The financial plans will encompass the following options:
an interest/profit waiver for a period of 3 months, commencing the month following the customer’s onboarding into the scheme; or
a 3-month interest/profit waiver together with reduced instalments for a period of up to 24 months in total. During this period, customers with unsecured personal loans/financing and credit cards may also benefit from reduced interest/profit rates to help alleviate their financial burden.
Eligible B50 customers need to submit the latest version of one of the following supporting documents to verify your current income or employment status (income reduction of at least 50% and unemployment status):
- EPF statement; OR
- Bank statement; OR
- Income tax form; OR
- Salary slip/payment vouchers; OR
- Letter of termination from previous employer.
Applications are open from 15 November 2021 to 31 January 2022. Click HERE to apply now.
Customers who have loan/financing facilities from multiple banks only need to submit a single URUS application to any one of the banks where you currently have performing facilities that are under existing repayment assistance.
For customers who do not fall under the criteria above, but anticipate you will require further assistance (based on current income or employment status) upon expiration of your ongoing Payment Relief Assistance Plan, you are encouraged to contact us to discuss available options, including various AKPK programmes for both individuals and SMEs such as:
- HLB/HLISB Payment Relief Assistance Plans (PRAP) for Individual Customers. Click HERE to find out more.
- Financial Resilience Support Scheme (FIRST); Application starts from 15 November 2021 – 30 June 2022
- Small Debt Resolution Scheme (SDRS)
- Debt Management Programme (DMP)
For more information on the eligibility criteria and available options on URUS and AKPK programmes, please refer to the FAQs.
Call us: 03-7959 1888 (Monday - Thursday, 8.45am - 5.45pm, Friday 8.45am - 4.45pm)
Email us: paymentrelief@hlbb.hongleong.com.my
To read the official press release on URUS from The Association of Banks in Malaysia (ABM), click HERE.
