SME Bank

Dear Valued Customers,

SME Bank is providing options for you to manage your financial obligations after the end of the moratorium period on 30 September 2020.

Kindly visit our nearest Enterprise Centres or contact your Relationship Manager to know more about SME Relief Programme.

Alternatively, please call our Customer Service Centre at 03-2603 7700 or email to This email address is being protected from spambots. You need JavaScript enabled to view it. for assistance.

Thank you.

Frequently Asked Questions on SME Relief Programme (SRP)

  

What is the SME Relief Programme or SRP?
  • SRP is the Post ‘BNM Automatic Moratorium’ Payment Arrangement’s initiative by SME Bank to assist our Customer’s financial obligations after the end of auto moratorium period on 30 September 2020.
  • The Bank may offer either Indulgence or Profit Servicing mechanism depending on Customer’s financial projection and eligibility criteria.
  • What does Indulgence mean?
    • Indulgence means deferment of payment for both Profit and Principal for a period to be determined.
  • What does Profit Servicing Period mean?
    • Payment of Profit only with deferment of payment for Principal for a period to be determined.

 

What is the difference between BNM announcement in March 2020 on auto moratorium and SME Bank’s SRP?

BNM Announcement

An automatic 6 month moratorium is granted to all Conventional & Islamic financing granted to SME, Ringgit Malaysia denominated financing/loans, which are not in arrears for more than 90 days as at 1st April 2020.

During this period, the payment for eligible financing/loan is deferred for 6 months until 30 September 2020.

SME Bank’s SRP

As per Item No 1.

 

When is the effective date of SRP?
  • SRP will take effect from 1 October 2020. However, the tenure of the indulgence or profit servicing period depends on the approval to be granted by the Bank.

 

How do I qualify for SRP? 
  • You may contact your respective Relationship Manager for the detailed explanation of SRP.

 

What is the eligibility criteria?

General Criteria

  • Only for Customers who are currently enjoying the BNM 6 month automatic period.
  • Business still in operations.
  • Not having any ongoing litigation actions (with FIs and Statutory Bodies).
  • Customers with ALL accounts are not in arrears for more than 90 days as at 1 April 2020.

(You may contact your Relationship Manager for any inquiry)

 

Will I be charged profit/interest on the payment amount that is deferred under 
  • Indulgence Period
  • Profit Servicing Period

Yes. The existing profit rate will remain.

 

Do I need to apply for SRP? 
  • You are advised to contact your Relationship Manager by 15 August 2020.

 

My financings/loans was restructured & rescheduled (R&R) a few months ago. Am I still eligible for SRP?
  • Yes, financings/loans under R&R are eligible for the SRP subject to fulfillment of the eligibility criteria as per Item 5.

 

Will my CCRIS be affected if I choose to participate in the SME Bank’s SRP?
  • No, the financing will not be coded as Restructure & Reschedule in CRISS.

 

Will the Bank impose any fees for me to enjoy this SRP? 
  • There is no fees being imposed for the SRP. 
  • However additional legal cost for New Aqad and documentation may be incurred for changes in terms and/or amount of the original financing facility.

 

Will there be any charges imposed for the R&R?
  • The Bank will waive all internal charges i.e in-house documentation fee and restructuring fee (for large companies). But, all external charges i.e stamp duty, brokerage fee and solicitor’s fee (if requires solicitor involvement) shall be borne by the Customer.

 

If I do not want to take up the SRP, what should I do?
  • If you do not wish to participate in the SRP, kindly notify the Bank by 30 August 2020 through your Relationship Manager.

 

I have multiple financings/loans and do not want to take up the SRP for all of them. What should I do?
  • For the specific financings/loans which you do not wish to take up the SRP, you may notify the Bank through your Relationship Manager.

 

Will my financing/loan maturity change, if I were to opt for the SRP?. What would be my new instalment amount after the end of the SRP period?

  • As a result of the Indulgence or Profit Servicing mechanism, the original terms may change. Any changes will be notified in the Letter of Notification.

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