Flood Payment Assistance

Frequently Asked Questions (FAQ)

No.

Question

Answer
1. Who are the customers eligible for this assistance? Only applicable for individual customers impacted by the flood and meet the following requirements:
  1. Not in arrears exceeding 90 days from the date of application.
  2. Not under an existing Payment Assistance program.
  3. Not a bankrupt or businesses that are under winding up process.
2 What type of financing qualifies for the assistance? Any of the following financing facilities and remain performing (not in arrears exceeding 90 days from the date of application):
  1. Property Financing;
  2. Personal Financing;
  3. Auto Financing/Hire Purchase;
3. If I fall into the eligibility criteria, will it be automatically enrolled? No. You need to apply HERE with basic documentation.
4. What is the type of assistance offered? The following assistance will be provided to eligible customers/facilities upon confirmation that they require the of assistance: 50% reduction in monthly payments for 12 months:
  1. Profit will continue to accrue on deferred amounts; and
  2. Rescheduling (extended financing tenure).
5. What basic documentation should I provide?
  1. Photograph of the affected property; and
  2. Letter from local authority (/Ketua Kampung/ Penghulu /JKKK or any relevant agencies) stated you were affected by flood.
6. How do I request for assistance and how will the confirmation be notified? Customers will be advised and need to acknowledge/accept that:
  1. Their monthly payment amount and/or financing tenure that will be adjusted and reflected to the increasing cost of facility”.
  2. New documents, Letter of Offer or agreements will need to be signed in accordance with legal and Shariah requirements before the assistance can take effect; and
  3. Specific details on cost implications of assistance will be provided, before confirmation on the selection. This will include details of changes in the payment schedule (tenure), in monthly payments and any bullet payments due in the future; and
  4. For individual customers acknowledgement of selection’s confirmation will be within 7 working days via email.
7. If I choose to apply, will my CCRIS have any remarks? Yes. It will be classified as R&R in your CCRIS.
8. My financing currently has MRTA/MRTT coverage; will it be extended as well? No, MRTA/MRTT coverage will not be extended. Customers are advised to call our customer service at 03-20963000 for further assistance to extend the MRTA/MRTT coverage.

 

*For the purpose of this FAQ, kindly be advised of the following:

  1. Where terms used are meant for conventional accounts, these would refer to the conventional accounts held with Malaysia Building Society Berhad (Registration No.: 197001000172 / 9417-K); and

  2. Where terms used are meant for Islamic/Shariah-compliant accounts, these would refer to the Islamic accounts held with MBSB Bank Berhad (Registration No.: 200501033981 / 716122-P)

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