Morotarium - Want to take it? .. - - Financial Market Media No. 1 in the World Morotarium - Want to take it? .. Morotarium - Want to take it? ..

July 14, 2021

Morotarium - Want to take it? ..

An online survey conducted by the Credit Counseling and Management Agency (AKPK) during the Apr-20 moratorium last year.

88% of respondents have chosen to take the moratorium program on repayment of such loans.
  • 48% want to make an anxiety tube.
  • 21% spend on daily necessities.
  • 16% to invest.
  • 11% to take out an additional loan.
  • 4% do not have any plans.

If I take it, how will it affect my loan?

Your loan interest will NOT be compounded, but still accrue.(What's that??)

This means, the total amount you pay will be higher (but not as high if the interest is compounded).
  • Example: for a 9 -year car loan, RM80,000, interest 2.5%, your monthly payment is RM907.41 per month. This means that the total monthly payment paid is RM98,000.
  • If you take the moratorium now, depending on your current loan balance, the total installments paid will exceed RM98,000.
No penalties are imposed, and the borrower’s record will not be affected.

Our conclusion, TAKE - if your finances are affected and need money for daily needs.

Do not take - if you are not affected. Let's help!

Take it - if you are confident enough that you can invest elsewhere with a consistent return and better than your loan interest rate.

This Week's Definition: Compounded Profits

Year 1 you make a profit - calculated on your balance.

Year 2 you make a profit - calculated on your balance + profit in year 1.

Year 3 you make a profit - calculated on your total balance + profit in year 1 + profit in year 2.

And so on.