Still Need Help With Loan Repayments? Here’s How To Apply For URUS

In recognition of the fact that a lot of Malaysians are still struggling with income and cash flow problems, the government has handed Malaysians in the B50 financial group a lifeline in the form of URUS, a financial management and resilience programme.

In a joint statement released by the Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Association of Development Finance Institutions of Malaysia (ADFIM), and Credit Counselling and Debt Management Agency (AKPK) on Monday (Nov 15), they announced that from now until 31st January 2022, applications for URUS will be open to eligible applicants in the B50 group.

The eligibility criteria for the URUS programme includes gross monthly household income of RM5,880 or lower and are experiencing loss of employment or income reduction of at least 50%, as well as those whose loan/financing facility is performing — that is, not in arrears exceeding 90 days as at the date of the application for URUS.

How do you apply for URUS?

Complete the application form and process according to the bank where you have loan/financing.
Provide proof of reduced income of at least 50% or loss of income (EPF statement, salary slip, termination letter, etc).
Submit your application to the bank. If you qualify for URUS, AKPK will contact you within 10 business days with your personalised financial plan.
If you are not eligible for URUS, you will be notified by your bank within 5 business days to assist you with other options to manage your loan repayments.

Further assistance will also be provided by partner banks through online banking, telephone calls, or in person visits to any of the bank’s branches.

For customers who have multiple loan/financing facilities with different banks only need to apply with any one of the banks where they currently have performing facilities under an existing repayment assistance programme.

For more details on the URUS repayment assistance process, impact on your credit record and eligibility for new loan/financing, refer to the FAQs here.

If you need more information, you can contact your bank for assistance, and the application forms will also be available on your bank’s website.

In the statement, ABM also said that the banks are mindful that customers would need some time to get back on their feet financially as the economy gradually recovers.

Therefore, for those customers who do not meet the eligibility criteria of the URUS programme, they can contact their respective bank to discuss their options.