Bank Rakyat to help customers adversely affected by COVID-19

KUALA LUMPUR 12 May 2020 – Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) is taking proactive steps to help individuals and businesses affected by the COVID-19 pandemic by offering a variety of financial assistance.

In a statement today, Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar said this includes a special financing scheme to assist small and medium enterprises (SMEs) and cooperatives, where they can apply for financing of up to RM300,000 each.

He said Bank Rakyat also provides a micro-financing scheme, offering up to RM50,000 per applicant with 69-month instalments as well as a nine-month grace period.

For women entrepreneurs, Wan Junaidi said the bank’s Biz Lady package offers funding amounting to RM50 million to help them reduce short-term cash flow problems and maintain business continuity.

“The campaign aims to help entrepreneurs and cooperatives to maintain business continuity, and to revitalise the country’s economy during the challenging times,” said Wan Junaidi.

Meanwhile, he added that Bank Rakyat’s “Kami Bersama Anda” (We Are With You) campaign, which runs from April 24 to June 30, 2020, offers the Personal Financing-i facility with total funding of up to RM200,000 at a low interest rate of 2.78% per annum for up to 10 years.

Customers of Bank Rakyat’s Credit-i or Debit-i card will also have the chance to win up to RM30,000 in cashback rewards while shopping for the upcoming festive season.

Those transferring money to their loved ones using the DuitNow app in iRakyat during Hari Raya Aidilfitri will also stand a chance to win up to RM24,000, he added.

For more information, please visit Bank Rakyat’s website, email [email protected], or call tele-Rakyat at 1-300-80- 5454 for further assistance.

– Bernama