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Good news for RHB customers, especially the ASBF customers

RHB first local bank to waive compound of interest or profit during six-month moratorium

KUALA LUMPUR (March 27): RHB Banking Group became the first local bank to announce that it will not be compounding interest for its retail and small and medium enterprise (SME) customers during the six-month moratorium period recently announced by Bank Negara Malaysia (BNM).

Two foreign banks here — HSBC and OCBC — have announced this as well recently.

The six-month moratorium will take effect from April 1, 2020. These measures will help to ease the cash flow of individuals and SMEs and will provide the much needed breathing space for customers to re-assess their financial positions, particularly those directly affected by Covid-19, RHB Banking Group said in a statement.

The moratorium will apply automatically to all RHB Bank and RHB Islamic Retail and SME customers, with the exception of loans/financing facilities that are in arrears exceeding 90 days as at April 1, 2020.

For the additional benefits, the bank said interest for all retail and SME banking facilities will not be compounded during the moratorium period and instalment payment amounts will remain unchanged upon the lifting of the moratorium.

For credit card facilities, the group said customers may request to convert the outstanding balances into a three-year term loan with reduced interest rates.

RHB Banking Group managing director Datuk Khairussaleh Ramli said these additional measures introduced by BNM in partnership with the banking industry provides critical relief to ease the financial burden of individuals and businesses, particularly the SMEs, during this extremely challenging period.

“Further details on the repayment deferment and restructuring has been made available on our corporate website,” he said.

At 10.08am, RHB shares gained 0.4% or 2 sen to RM4.97, valuing the group at RM19.93 billion.

You are correct. Interest will still accrue

Anything my friend, is possible and I dont dare to say one thing or another's

My personal opinion, which you should not quote because they are just my conjecture of current events: 5.0%, which is still higher than prevailing rates for ASBF

I call it "Diabetes Tea"

the rich getting richer man. they are the ones being belanjaed

Which sounds kinda fishy. If he wants to sell it off he could do it directly to ASNB. If he wants to help that is very noble of him

Not at all. ASNB doesn't want to make it easier for people to withdraw - it is not an ATM

Fixed price fund la. No upfront fees

you could say the same thing about all the online withdrawal process with online UT platforms, as well as bank accounts that are online.

I am confident that they allow this due to the MCO, and would not increase the limit anytime soon. ASNB was created to encourage Bumis to save and invest among other things, allowing them to withdraw their investments too easily would defeat the purpose. This can be seen as to why investors are allowed to make deposits into the account online (from your online banking platform) for the longest time, but no withdrawals into your bank account, not even after the inception of MyASNB

hey y our name fits in this conversation

Sure. They only use TAC which can be hacked too.

But i do not have 800k savings in my Maybank accounts

But can transfer to other accounts right?

Didik is ASB 3 right? If you qualify for ASB1 and 2, you should qualify for Didik. If you qualify for Didik, maximize ASB1 and ASB2 first

Always max the ASB regardless of cash or financing. It tends to give better returns than ASB2

Both

If sales transaction of the units, buyer banks in money to seller, seller will go to myasnb to transfer the money

Otherwise the one making the redemption will just let the people here know the time and date of the redemption so others can have higher chance to grab them

From the transferer side, you need to input the OTP (sent to your phone), the transfer of units would be reflected immediately, no different to bank transfer

i think this pond is quite big by itself. difference is that it is someone regulated by the mods. 3% sales charge? kena tibai.