JAKARTA - PT Bank UOB Indonesia has announced credit relief measures to provide immediate liquidity assistance for customers affected by the coronavirus (COVID-19) pandemic.
“In line with the government’s initiatives, our credit relief measures will enable our customers to have greater flexibility for their outstanding loans in order to meet their immediate liquidity needs,” UOB Indonesia President Director Kevin Lam said in an official statement received by IDNFinancials.com, Tuesday (26/5).
The relief measures include deferment of loan principal and/or interest repayment of mortgage products; lowering monthly minimum payment from 10% to 5%, monthly interest rate by 2%, and late payment fee by 1% or a maximum of Rp 100,000 on credit card bills; and rescheduling and restructuring of mortgages and credit card repayments on a case-by-case basis.
In addition, business customers including MSMEs affected by the pandemic will receive relief measures including deferral of loan principal and/or interest repayment and extension of loan tenor.
“We believe Indonesia’s macroeconomic fundamentals remain strong and the credit relaxation programme will enable us to help our customers so that together we will overcome the challenges,” Mr Lam concluded. (MS)