Affin Bank Housing Loan Moratorium

To alleviate financial burden of affected customers going through market uncertainties and financial hardship the bank will provide a comprehensive financial relief including moratorium up to six 6 months and restructuring and rescheduling r r of financial facilities.

Affin bank housing loan moratorium. More flexibility in either lowering or halting home loan repayments. Affin bank bhd and its islamic counterpart affin islamic bank bhd announced that they will not be compounding interest and profit for term loans and term financing during bnm s moratorium. Affin bank bhd is expected to incur about rm80 million in modification cost profit loss owing to the six month moratorium temporary relief given to its customers affected by the. You can expect an early settlement penalty equal to 5 of the outstanding loan amount if you repay your loan or refinance within the first 3 years and 3 for the subsequent 2 years.

Applies to financing denominated in malaysian ringgit that are not in arrears exceeding 90 days as at 1 april 2020. Contact centre 03 8230 2222. In line with bnm s guidelines all retail and sme customers from both banks will be enrolled in the six month deferment automatically. The six month loan moratorium imposed by bank negara malaysia bnm has cost affin bank bhd a total loss of rm80 million for not charging its customers for six months under the moratorium its president and group ceo wan razly abdullah wan ali said 63 of its rm45 billion loan book is currently inactive under the moratorium the cost of the moratorium to the bank is about rm80 million.

Affin bank housing loans come with a lock in period of 5 years which is among the longest among banks in malaysia. Kuala lumpur aug 5 a financial assistance initiative is being rolled out by affin bank berhad and affin islamic bank berhad for their customers once the six month loan moratorium ends on september 30. The financial assistance and instalment relief fair programme is aimed at those who have. Bhd hsbc malaysia ambank group affin bank.

The moratorium part of bank negara s measures to help. Six 6 months 1 april 2020 till 30 september 2020 eligibility criteria. You will need to provide your consent before or on 15 june 2020 by notifying the bank via the following channels. Invest unit trust asnb.