CASSA Slams CIMB For Been Insensitive & Uncaring Towards Consumers! Is There Another Caring Bank Out There?

Dato Jacob George

‘Is there another bank out there in 1Malaysia who are able to help this man refinance his property – as – all he needs is RM120,000.00 where the monthly payments will drop to RM1200.00 saving him now a retired person RM1300.00 monthly at a time Malaysian consumers are hard-pressed to make ends meet?’

CASSA Slams CIMB For Been Insensitive & Uncaring Towards Consumers! Is There Another Caring Bank Out There?

Malaysians Bank operates successfully because consumers deposit their monies in them. But when consumers take loans from the same bank and appeal for flexibility – it does not come!

Here is a true story!

Mr G had taken a housing loan for 25 years for his house in 1997. Despite the rollercoaster life’s challenges he kept up the said payments for the said
Property. He paid a monthly payment of RM1881.00

In 2002, he was forced to take a second mortgage on the same property to overcome family emergency for RM60,000.00 and paid a further RM540.00 monthly.

It is now 2014 and the outstanding amount for the 2 loans are RM120,000.00.

As a retired individual, Mr G wrote to CIMB to consolidate both accounts since it is for the same property and bring down the monthly payments to around RM1200.00 which is a repayment structure for that amount IF he decides to refinance the same property from a third party bank!

At CIMB today he was paying about RM2500.00 per month!

He wrote to CIMB – they did not ever reply his letter but notified him through a telephone call that his appeal was rejected!

This is CIMB!

His property has appreciated in value and is worth RM700,000.00 today.

He is not gainfully employed.

Is there another bank out there in 1Malaysia who are able to help this man refinance his property – as – all he needs is RM120,000.00 where the monthly payments will drop to RM1200.00 saving him now a retired person RM1300.00 monthly at a time Malaysian consumers are hard-pressed to make ends meet?