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.
Applying and selecting plans for Payment Relief Assistance is easy. Here’s a video of the 5 simple steps >
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 03-26167766 or visit AKPK customer portal at www.akpk.org.my
For enquiries, please call 03-26167766
A brief description of the Payment Relief Assistance Plans For All individual customers (B40, M40, T20)
Available Plans |
Loans/Financing Type |
Acceptance Required after Approval? |
|---|---|---|
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 |
• Autoloan/Financing-i (Hire Purchase) • Personal Loan/ Financing-i |
YES Customers are required to follow instructions in the email after approvals to accept the Supplementary Offer Letter |
If the options above are not suitable for your financial situation and you wish to discuss other options, please call 03-79591888 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
Available Plans |
Account/Financing Type |
Acceptance Required after Approval ? |
|---|---|---|
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 |
• 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 |
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 03-76268899 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:
