26/03/2020
Government initiatives to assist Malaysian during Covid-19
💥6 months automatically MORATORIUM on repayment by Bank Negara
Malaysia 💥
Summary :
1) All Malaysian in all kind of loan except credit card
2) It is automatically extend your tenure, example your loan tenure is 360 months, now become 366 months
3) Eligible for all individuals and all sme
4) From 1st April to end of September 2020
5) Condition : For those not in arrears exceeding 90 days installment only
6) Credit card debts is not applicable. However, if you didn’t pay for last 3 months, bank will convert it as term loan, to lower down your repayment
7) Credit card is allow to do balance transfer to max 13% per annum.
8)) Only ringgit Malaysia loan is allowable
9) There will still be an accrual of interest
10) Banking institions may also extend these options beyond end of this year.
11) Some lending and financing requirements have been liberalised to further support activities.
12) No ccriss or ctos record for this 6 months MORATORIUM.
