Wati's avatar'
Wati4 tahun yang lepasOther Workplace Issue

Questions about loans deferment

Is application for loans to be deferred is not needed anymore? Everyone will automatically have their loans deferred?

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Aqilah's avatar'
Aqilah5 tahun yang lepas
Yes. In March 24 — Bank Negara Malaysia (BNM) has ordered an automatic six-month moratorium on all bank loans — except for credit card balances — for those affected by the Covid-19 outbreak. In a statement by the central bank’s deputy governor Jessica Chew, BNM said the measure was designed to ease the cash flow of small and medium-sized enterprises and individuals that are likely to be most affected by Covid-19. “Banking institutions will grant an automatic moratorium on all loan/financing repayments/payments, principal and interest (except for credit card balances) by individuals and SME borrowers/customers for a period of six months from April 1, 2020,” the statement read.
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