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June 2, 2021

Extension of Moratorium For Affected Individuals & Businesses

 Bank Negara Malaysia (BNM) today reiterated that all borrowers whose income is declining, including salaries, allowances, commissions and household income are eligible for a reduction in monthly installments based on the affected income.


BNM, in several tweets on Twitter via its @BNM_official account, explained that for the newly announced loan repayment assistance, the B40 group who are also recipients of Subsistence Assistance/People's Caring Assistance (BSH/BPR) can opt for a three -month moratorium or reduced monthly installments 50% for six months.


"Individual borrowers who have lost their jobs can also choose a moratorium for three months or a monthly installment reduced by 50% for six months," he said as reported by Bernama.



The central bank also added that micro -enterprises with approved facilities of up to RM150,000 as well as small and medium enterprises (SMEs) that are not allowed to operate during the Movement Control Order (PKP) can opt for a three -month moratorium or 50% reduced monthly installments for six months.


BNM asked borrowers to contact their respective banks to make that choice.


The public is encouraged to visit the link http://bnm.gov.my/RA for more information on loan repayment assistance,