Kuala Lumpur, 14 February 2020 – Standard Chartered Malaysia and Standard Chartered Saadiq Malaysia are offering an interest-only payment option to its retail and Small and Medium Enterprises (SME) clients whose business has been affected by the COVID-19 outbreak. Clients may apply for the option to pay interest only on their instalment loans for up to six months.
Lai Pei Si, Head of Retail Banking of Standard Chartered Malaysia, says, “The outbreak has rattled global markets and is beginning to have material impact on businesses. As we receive better information on the spread of COVID-19 and understand how it has been impacting our clients in terms of supply chain, logistics and collections, it’s imperative that we come forward to their assistance.
“We are closely monitoring the progress of the outbreak and recognise that some clients are experiencing cashflow concerns, so our focus is on prioritising their needs. We hope that this measure will provide a form of relief for our clients as we continue to stand by them through this hard-hitting time.”
Standard Chartered offers interest-only payment option which is available to both conventional and Islamic loans. Eligible customers are encouraged to reach out to the Bank and apply for the option which has been made available starting yesterday.