PETALING JAYA: Malayan Banking Bhd’s (Maybank) in-house unions, Association of Maybank Class One Officers and Association of Maybank Executives have recently signed their collective agreements (CA) for the period of Jan 1, 2018 to Dec 31, 2020.
The CA will see their members, representing executive to senior executive level and the junior officer level staff respectively, receiving a 10% salary adjustment, enhancement in current benefits and allowances as well as introduction of new benefits, Maybank said in a statement today.
The CA will also see a raise of up to 30% and 25% in personal accident and term life insurance coverage respectively, which will further support the employees and their families during unfortunate events, and also a 10% increase to all other monetary allowances.
A seven day pilgrimage leave scheme, which is a new benefit to the CA, will enable eligible employees to perform and fulfil their religious obligations with added flexibility.
During the signing ceremony, Maybank also announced a review on the staff housing loan benefit for employees in Maybank Malaysia, which will see a reduction in staff housing loan interest rates from 3.5% to 2% for all employees for existing and new loans.
This will complement the existing scheme where employees, earning RM3,000 and below, are eligible for interest free loans for the first RM100,000 on their housing loans from Maybank.
Source: The Sun Daily