Special Financial Relief Programme (SFRP) for Secured Loan entails the following:
|i.||Interest-only payment on the outstanding principal up to a maximum of 9 months or ending 31 Dec 2020, whichever is earlier, AND|
|ii.||Option to extend the loan tenure by up to the corresponding Interest-only payment period, OR|
|iii.||Re-amortised the remaining outstanding principal after the Interest-only payment period, over the remaining loan tenure.|
Option A: Interest-only payment till 31 Dec 2020 with Tenure extension
Option B: Interest servicing till 31 Dec 2020 without Tenure extension
SFRP is applicable to all our existing RHB SME customers who have:
You can submit your application from 6 Apr 2020 onwards.
There is no need to compute TDSR for refinancing or repricing for RHB SME customers (applicable to investment property loans2 , including mortgage equity withdrawal loans (MWLs) but not applicable to new mortgage equity withdrawal loans for properties purchased before 6 April 2020.)
1These include individuals, sole proprietorships and special purpose vehicles set up for the purchase of property
2These include loans taken to purchase residential, commercial and industrial properties, as well as mortgage equity withdrawal loans (MWLs) secured against the value of the aforementioned properties. To be clear, MWLs secured against the value of owner-occupied properties are also availed to this temporary exemption.
RHB SME customers who are unable to meet TDSR would not need to commit to a debt reduction plan to repay 3% of their outstanding loan amount over 3 years, before they can refinance or reprice their loans.
To apply, please contact your Relationship Manager, or call us at 1800-323 0100 for more information.
In partnership with MAS and ESG, we are here to assist through this challenging period with the following support relief measures and initiatives.
Enterprise Financing Scheme (Covic-19)
Support your cash flow with the following scheme:
Enhanced SME Working Capital Loan
Temporary Bridging Loan
Loan Insurance Scheme (LIS) / Enterprise Trade Loan (EFS Trade)