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Faqs Targeted Repayment Assistance: No Answer
Faqs Targeted Repayment Assistance: No Answer
Faqs Targeted Repayment Assistance: No Answer
No Question Answer
1. Who will be eligible for the 1. Customers from the B40 group and registered in the
Targeted Repayment database as recipients of Bantuan Sara Hidup (BSH) /
Assistance? Bantuan Prihatin Rakyat (BPR). A customer whose spouse
is a BSH /BPR recipient will also be eligible.
2. What are the options The following assistance will be provided to eligible customers:
available under the
a. Three (3) months deferment of monthly instalments
Targeted Repayment
(Moratorium); or
Assistance?
b. 50% reduction in monthly instalments for a period of
six (6) months; or
3. What type of facilities are Any facilities / financing approved before 1 June 2021 and not
qualified for the Targeted in arrears exceeding 90 days from the date of application for
Repayment Assistance? the following facilities:
4. Are customers who are Customers are eligible for the Targeted Repayment Assistance
already receiving the when the Extended Targeted Repayment Assistance expires.
Extended Targeted This is to avoid any overlap between assistance packages.
Repayment Assistance
(ETRA) eligible to apply for
Targeted Repayment
Assistance?
5. What are documents a) Customers from the B40 group - no documents required;
required to apply? b) Micro finance customers - no documents required;
c) Micro enterprises and small and medium enterprises
(SMEs) that are not allowed to operate during the MCO
period – no documents required;
d) Customers from the non-B40 group (including M40 and
T20) who become unemployed in 2020 and 2021 – letter
from employer;
e) Customers from the non-B40 group (including M40 and
T20) who have experienced a reduction in income – no
documents required.
*The Bank has the right to request for supporting documents (if
necessary)
No Question Answer
6. Is there any compounding The Principle of Beneficence (Ihsan) is applied under this
profit / interest charged Targeted Repayment Assistance in alleviating unprecedented
under this Targeted social, economic and financial hardship suffered by the eligible
Repayment Assistance? customers due to COVID-19 pandemic. The Principle of Ihsan
is a fundamental value in Islamic finance and in line with the
objectives of Shariah (Maqasid Shariah) whereby Islam
encourages this principle to be applied in all matters including
muamalah (transaction) following the verse of Al-Qur’an in
Surah al-Nahl (verse 90) and also the Sunnah from Prophet
Muhammad SAW.
7. When will the assistance The assistance will be made available in the following month
start? from the date of application (for those who have not been
approved in any Extended Targeted Repayment Assistance).
8. Will the Bank impose No. The Bank will not impose any additional conditions.
conditions (such as
regularisation of the
account) prior the
assistance?
9. Can the Bank decline The Bank shall not decline application from customers who are
application from customers under Salary Deduction who meet the eligibility criteria.
who are under direct salary
deductions, such as
individuals under Angkasa?
10. How to apply for the Application may be submitted via BSN’s website
assistance? https://www.bsn.com.my.
11. What is the expected Acknowledgment of receipt of the applications via SMS will be
timeframe to process the made within 24 hours.
application?
The decision of the application (approved or rejected or
countered) will be notified via SMS within five (5) days.
No Question Answer
12. Will my credit score in the No, it will not affect the CCRIS record if you have successfully
Central Credit Reference applied for the Targeted Repayment Assistance before
Information System 31 December 2021.
(CCRIS) report by Bank
Negara Malaysia be
affected if I take up the
Targeted Repayment
Assistance?
13. What are my options if my You may contact the Credit Counselling and Debt
application for Targeted Management Agency (AKPK) at 03-2616 7766 or visit their
Repayment Assistance is website at www.akpk.org.my for more information.
not approved?
18 Is there any increase in Yes. There is an increase in financing / loan cost due to profit /
financing / loan costs when interest accrued is chargeable over the extended period.
the loan period is extended? These, however are only claimed /payable upon full settlement
of the outstanding balance. Please refer to the illustration.
Note:
Monthly Instalment
Monthly Instalment
Impact to you if you were - Increased in total payable Total profit / interest will
to enrol under the results from the deferred be higher as tenure is
repayment assistance. monthly instalments and extended by 6 months.
profit / interest accrued
during moratorium and
tenure is extended by 3
months.
Monthly Instalment