Business

Friday June 6, 2008 MYT 8:01:57 PM

CIMB offers to reschedule car loans


KUALA LUMPUR: CIMB Bank has launched its customised auto repayment schedule programme that enable customers to refinance, restructure and reschedule their existing car loans and lower their monthly repayments.

CIMB Bank said Friday the move would help ease the financial burden and cashflow concerns of vehicle owners after the recent fuel price hike.

The banks’ head of retail banking Peter England said the programme applied to automotive loans of one year or more.

“Its objective is to reduce a vehicle owner’s monthly instalment by between 20% and 30% and free up additional disposable income and assist car owners in trying to manage the financial effects of the recent rise is fuel cost,” he said.

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