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OCBC Bank has processed all moratorium sign-ups to date within the stipulated time, no rejections

OCBC Bank has processed all moratorium sign-ups to date within the stipulated time, no rejections

  • 09 Aug 2021

In the four weeks since the 7 July rollout of the PEMULIH moratorium packages, OCBC Malaysia has processed all customer sign-ups within the stipulated time, with no rejections.

OCBC Malaysia comprises OCBC Bank (Malaysia) Berhad (OCBC Bank) and its Islamic banking subsidiary OCBC Al-Amin Bank Berhad (OCBC Al-Amin).

Sign-ups related to consumer banking were almost entirely processed within the same day while for SMEs and microenterprises it was within seven days, well below the 14 days allowed for the exercise.

Reiterating the Bank's commitment to assisting any customer in need, OCBC Bank CEO Dato' Ong Eng Bin said the Bank is committed to continue assisting customers who are financially affected by the impact of the pandemic.

"We have developed a robust system internally to ensure processing of all sign-ups runs smoothly, so that customers can go about their rebuilding task without worrying about their loans and financing during these difficult times.

"I would like to emphasise again that customers should remain positive no matter how challenging the times are because help is at hand. We believe most of those who need assistance have already been attended to. However, if there remains anyone who has yet to sign-up and needs to, please do so online through our simple sign-up process," he said.

Dato' Ong added that while Covid-19 cases remain high, the Bank remains comforted by the high vaccinations rates that the country has achieved.

"This points to a gradual reopening of businesses so the economy can get back on track and our customers' livelihoods preserved."

Under the PEMULIH package, customers may sign up online or at the Bank's branches for either a 6-month deferment of instalments or 50% reduction in instalments for 6 months.

To opt in for the programme, OCBC customers may sign up online at using the Bank's simplified application process. Personal banking customers can also call a dedicated hotline 03- 8317 5011, while SME and microenterprise customers may call 03-8317 5200. The lines are open Monday to Friday, 9am to 6pm.

In addition to the basic moratorium programme, OCBC Bank is also offering its credit card members to convert their outstanding balances into a 3-year term loan/financing with reduced interest/profit rates so they can better manage their debt.

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