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On 30 September 2020, the government’s 6-month loan repayment moratorium on all bank loans for individuals and SMEs will expire. This means that many of us will need to resume our loan repayments in October 2020.


Will the moratorium be extended?


Prime Minister Tan Sri Muhyiddin Yassin has announced a 3-month targeted moratorium extension for individuals who have lost their jobs and are yet to find new employment. Furthermore, banks in Malaysia will offer targeted financial assistance to extend support and provide payment assistance to customers experiencing a decline in income as well as those who continue to be heavily impacted by the pandemic on a case-by-case basis.


The government has stated that 7.7 million individuals and 243,000 businesses have benefited from the moratorium, however it is vital that borrowers begin servicing their loans again so that financial institutions can continue to fund economic activities and help with efforts towards recovering our economy.

Preparing for the end of the moratorium


CIMB will reach out to customers who are eligible for our Targeted Assistance Programme by SMS. If you require financial assistance and have not heard from us, please contact us by calling our Contact Centre at 03 – 6204 7788, emailing us at or by visiting our branches.


For customers who are not part of the Targeted Assistance Programme, the key to the smooth resumption of your loan/financing payments is to start preparing early. The first step is to find out how much the monthly instalment of your loan/financing payment will be starting in October 2020.


CIMB will send a notification to all our customers who participated in the moratorium before 30 September 2020 to inform them of their payment amount. Our customers can also find this information by logging on to CIMB Clicks, calling our Contact Centre or emailing us at


Once you know your monthly payment amount, next review your monthly expenses. Work out a budget that prioritises loan/financing payments, rental and utility bills (here are some tips to help reduce your household bills). Don’t forget to also include saving money for unexpected expenses. Once you’ve planned your budget you’ll have a clearer understanding of your financial position.


How to reduce your monthly loan/financing payment?


After preparing your budget, you may find that you need payment assistance to meet your financial commitments. It’s important to take action before October to avoid missing your loan/financing payment as this will negatively impact your credit score.


CIMB is ready to look into assisting any customers who are facing difficulty meeting their financial commitments. You can reach us through our Contact Centre at 03 – 6204 7788, email us at or visit our branches.


To receive payment assistance, speak with your bank early and request for payment assistance for your financing. The goal is to reduce your monthly payment to an amount that is within your current means. Some of the ways your bank can help you are by:


  • Extending the tenure of your loan
    Paying less each month to pay your loan/financing but agreeing to do so over a longer time. Be aware that while this reduces you monthly payments, you’ll be paying more towards interest/profit over the longer tenure of your loan.

  •  Debt consolidation
    Taking out a new loan with more favourable payment terms to pay off other debts—such as credit card debts or personal loans.

  • Personalised loan/financing payment moratorium
    Extending the moratorium for individual customers based on their particular financial situation.



Malaysians continue to face many challenges brought on by the pandemic. CIMB is here to help you move forward and we urge our customers who need financial assistance to discuss options with us as soon as possible.


This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve all our well-being. This, in turn, achieves CIMB’s purpose of advancing customers and society.