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Dear Valued Customer,If you are reading this, you are most likely interested to know about the financial reliefs ormoratorium offered by Maybank/ Maybank Islamic in line with the announcement by Bank NegaraMalaysia (BNM).Please find below a list of Frequently Asked Questions (FAQs) which serve to assist you inunderstanding your options, as well as the steps you may need to take.You may reach us at: Customer Care Hotline: 1300 88 6688, press *1 for moratoriumEmail: mgcc@maybank.com.myStay safe and let Maybank ease your financial concerns during these times.FAQs ON CREDIT CARD RELIEF ASSISTANCE (AS AT 10 APRIL 2020)NoQuestionsAnswersGeneral Queries on Moratorium and Credit Card Relief Assistance1What does ‘moratorium’Moratorium means ‘defer’ in this context. Effectively,mean?this means that individual borrowers/ customers will beable to defer their loan/ financing payment to a laterdate.2What does the BNMannouncement onmoratorium mean to loan/financing borrowers?An automatic 6-month moratorium is granted to allConventional and Islamic consumer and SME, RinggitMalaysia denominated loans/ financing (except forCredit Card/ Credit Card-i, Charge and CorporateCard), which are not in arrears for more than 90 days asat 1st April 2020.During this period, the payment/ repayment for eligibleloan/ financing is deferred for 6 months until 1stOctober 2020.3Since the moratorium doesnot cover Credit Card/Credit Card-i and CorporateCard, what can I do to reliefmy outstanding balance(s)?Cardmembers who face temporary financial constraintsarising from COVID-19 pandemic can convert their CreditCard/ Credit Card-i and Corporate Card* outstandingbalances into an Instalment Programme to relieffinancial difficulties faced by Individual and CorporateCardmembers during this challenging time.Note: *Only applicable to Maybank Visa Corporate,American Express Gold Business & American ExpressPlatinum Business.The list of FAQs is subject to revision by the Bank in line with regulatory updates. As and when there are newdevelopments, we aim to update you via Maybank2u
4What does the InstalmentProgramme means?The Instalment Programme enables Cardmembers toconvert outstanding balances into instalments of up to36 months (3 years) at an effective interest rate of up to13% per annum.5When is the InstalmentProgramme effective?The Instalment Programme takes effect on 1st April to31st December 2020.6Will my CCRIS be affected if Ichoose to convert myindividual Credit Card/Credit Card-i or CorporateCard outstanding balance toan Instalment Programme?Your CCRIS record will not be adversely affected, if yourindividual Credit Card/ Credit Card-i or Corporate Cardaccount is performing at the point of conversion.How will this impact myability to take new loan/financing or apply for CreditCard/ Credit Card-i later on?There will be no impact. You may apply for any newloan/ financing or Credit Card/ Credit Card-i but theapplication is subject to the Bank’s credit assessment.7Instalment Programme Eligibility8Am I eligible?9However, if your individual Credit Card/ Credit Card-i orCorporate Card account is already non-performing, it willcontinue to be reflected in your CCRIS record.You are eligible provided that your account is not inarrears for more than 90 days as at 1st April 2020.Can SupplementaryCardmembers apply for thisprogramme?No, only Principal Cardmembers can apply for thisprogramme but the conversion takes effect for theSupplementary Card account balances (if any), as well.10I am a foreigner, am Ieligible?Yes, as per item 8.11When will the automaticbalance conversion takeeffect?Automatic outstanding balance conversion toInstalment Programme will take effect on the statementcycle date. The 1st monthly instalment will be posted 1day after the statement cycle date, i.e. statement cycleis 3rd April, and the 1st instalment will be posted on 4thApril. You may view in Maybank2u on 5th April.For Opt In request, it takes effect after the applicationis received. If your application is received after yourrecent statement cycle date, the conversion of theoutstanding balance will only take effect on thefollowing statement cycle date.The list of FAQs is subject to revision by the Bank in line with regulatory updates. As and when there are newdevelopments, we aim to update you via Maybank2u
12Is there any minimumamount for the conversionof individual Credit Card/Credit Card-i or CorporateCard outstanding balance toInstalment Programme?Apply for Instalment Programme13Do I need to apply for theInstalment Programme?Yes, the minimum amount is RM500 to be eligible forInstalment Programme of up to 36 months (3 years).Yes. You are required to apply.For Individual Credit Card/ Credit Card-i Please click here and fill out the Credit Card ReliefAssistance form by 31 December 2020. Do indicate which card you wish to convert intoinstalment.If you do not have a Maybank2u account yet, click herefor more information on how to register for it online.For Corporate Card Please send your application on the Credit CardRelief Assistance via email tocolln@maybank.com.my by 31 December 2020. Do indicate which card you wish to convert intoinstalment.However, if you have not been able to meet theminimum monthly payment for 3 consecutive months,the Bank will automatically convert your Credit Card/Credit Card-i and Corporate Card outstanding balancesinto an Instalment Programme of not more than 3 yearsat an effective interest rate of not more than 13% perannum.14If I do not want to take upthe Instalment Programme,what should I do?You may continue to service your Credit Card/ CreditCard-i and Corporate Card payment as usual. No otheraction is required.15I have multiple Credit Card/Credit Card-i or CorporateCard and do not wish to takeup the InstalmentProgramme for all of them.What should I do?Same as item 13 above; ORFor those Credit Card/ Credit Card-i and Corporate Cardthat you do not wish to take up, please continue toservice your Credit Card/ Credit Card-i and CorporateCard payment as usual.The list of FAQs is subject to revision by the Bank in line with regulatory updates. As and when there are newdevelopments, we aim to update you via Maybank2u
16I have two credit cards. CanI convert both credit cardbalances into one InstalmentProgramme?The conversion into Instalment Programme is done on aper card basis.17Can I exit the InstalmentProgramme midway? Is therea termination fee?Yes, you may exit midway and there is no terminationfee.The remaining outstanding balance will be charged infull and you may service your payment/ repaymenteither in full or minimum payment as per your monthlystatement.18After I submit the requestfor the InstalmentProgramme, can I requestfor change in tenure?Changes are not allowed.19In the event my applicationfor conversion to theInstalment Programme wasnot approved, can I requestfor the deferment packageunder the moratorium?No, the 6-month payment deferment announced by BankNegara Malaysia is not applicable to Credit Card/ CreditCard-i and Corporate Card outstanding balances.Payments Related20After the first automaticconversion, if I am unable tomeet my Credit Card/ CreditCard-i minimum repayment/payment again, will the Bankconvert the balance into anInstalment Programme?Others21Am I given the option/flexibility to choose theInstalment Programmeperiod?No. The automatic conversion into InstalmentProgramme will only be done once during the periodfrom 1st April to 31st December 2020.Yes, there are 4 instalment periods (tenure) - 6, 12, 24and 36 months – which you can select.Note: The above options are not available for automaticconversion of Credit Card/ Credit Card-i and CorporateCard outstanding balance, which will be converted to 36months instalment only.The list of FAQs is subject to revision by the Bank in line with regulatory updates. As and when there are newdevelopments, we aim to update you via Maybank2u
22If my credit card outstandingbalance is converted into anInstalment Programme, can Istill use my Credit Card?Yes, you can continue to use the Credit Card up to theremaining credit limit after taking into account thebalance converted into an instalment.The outstanding balance converted into the InstalmentProgramme is treated as part of the credit card limit. Inaddition, the monthly instalments will then form part ofthe minimum monthly repayment/ payment amount onthe Credit Card.Note: The above does not apply to those who fall underthe automatic conversion of Credit Card balances.2324If I apply for the InstalmentProgramme, will theremaining balance undermy existing normalinstalment plan (e.g.EzyCash, EzyPay, EzyPayPlus, CashTreats, BalanceTransfer), be included inthis new InstalmentProgramme?The Bank will convert only the outstanding balancestated in your Credit Card statement cycle date andnot the remaining unbilled amount that is notreflected in the statement cycle date.Will there be any notificationsent to me?Upon receiving your application, an acknowledgmentwill be sent via email within 48 hours.For example:Once your outstanding balance conversion takes effectinto Instalment Programme, we will send an email orpost a letter to you detailing the conversion.The list of FAQs is subject to revision by the Bank in line with regulatory updates. As and when there are newdevelopments, we aim to update you via Maybank2u
Dear Valued Customer, . (FAQs) which serve to assist you in understanding your options, as well as the steps you may need to take. You may reach us at: Customer Care Hotline: 1300 88 6688, press *1 for moratorium Email: mgcc@maybank.com.my Stay safe and let Maybank ease your financial concerns during these times. FAQs ON CREDIT CARD RELIEF ASSISTANCE (AS AT 10 APRIL 2020) No .
