Tag: moratorium

6 months Moratorium – Updates from Banks

Updates from Banks including Opt Out Option

After our discussion about the 6 months loan repayment deferment announced by Bank Negara Malaysia (BNM) in our previous post, we found that many banks have their own dedicated web page for COVID-19 related measures.

List of Links

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BNM Announcement – Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19

BNM – Loan deferment for 6 months – Individuals, SMEs and Corporates Affected by COVID-19

Bank Negara Malaysia (BNM) made an announcement on 25th March 2020 as part of the measures to help individuals, SMEs and Corporate affected by COVID-19 (coronavirus).

Moratorium of 6 Months on Bank Loans

Banking institution to provide a 6 months deferment of all loans or financing repayments with exception to Credit Card. Details could be read at BNM official site. Detailed terms and conditions can be obtained from the FAQ released. It is important to note that the interest will continue to accrue during the moratorium period.

Continue reading “BNM Announcement – Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19”