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Malaysia s new six-month loan moratorium : All you need to know before you say yes | Malaysia

Wednesday, 14 Jul 2021 04:59 AM MYT BY IDA LIM Maybank advised customers to continue with their current repayments if they can afford to do so instead of opting-in at this point in time as the six-month plan would increase overall borrowing costs. Picture by Firdaus Latif Follow us on Instagram and subscribe to our Telegram channel for the latest updates. KUALA LUMPUR, July 14 Malaysians can finally start applying for the six-month loan relief programme from banks which allows them to start making full payments again only in 2022. But what do you need to know before deciding whether to take up the option?

Here s What The New 6-Month Moratorium Means

Here s What The New 6-Month Moratorium Means Subscribe to our Telegram channel for our latest stories and breaking news. Beginning yesterday, 7 July, individual and enterprise borrowers (including small and medium businesses) who have been affected by the pandemic may start applying for a six-month bank loan moratorium, announced Bank Negara Malaysia (BNM). A moratorium, which means a legal authorisation to debtors to postpone payment, was announced earlier by the government as part of Pemulih, a sweeping economic recovery package in response to the ongoing COVID-19 pandemic. This moratorium, however, is different from the previous one announced last year, which had only been reserved for the B40 community.

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