Through the 2021 Budget, the following are the advanced status of MORATORIUM B40 / M40 / MICRO COMPANY:
- B40s who are also recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR) and small / micro traders only need to contact the bank to determine the targeted financial assistance options.
- Bank Negara Malaysia (BNM) in a statement on its Facebook page explained that BSH / BPR recipients and small / micro traders should choose either a three-month moratorium or a 50 percent monthly instalment reduction for a period of six months.
TYPES OF ELIGIBLE LOANS FOR THE MORATORIUM
Here are the loans eligible for the moratorium:
- Private (individual / SME)
TERMS AND CONDITIONS
Eligible borrowers consist of loans approved before 1 October 2020 and those who do not have instalment arrears exceeding three months
HOW TO APPLY
- Contact the bank and state your choice at any time from 23 November 2020 to 30 June 2021 and approval is given automatically
ADVANCED MORATORIUM B40 / M40 / SMALL TRADERS
- For the B40s, it is only necessary to make a self-declaration to determine the targeted financial assistance options.
- For the M40s, only need to make a self-declaration to reduce the monthly instalment and the approval is also given automatically.
- Borrowers need to make a self-declaration. The bank will consider the income of individuals and couples. The processing period of the bank is five days, and the approval is also automatic.
- Based on the feedback of GKP 2.0 applicants, the following are the most popular reasons related to GKP 2.0 reason pass code> CODE 04 (Agency does not exist)
PURPOSE OF SELF-DECLARATION (SELF-DECLARATION)
Self-declaration means the applicant needs to contact the bank and make a confession to apply for an extension of the loan moratorium.
The moratorium is not just for a small number of citizens, but available to all Malaysians affected regardless of whether they are from the B40, M40 or T20 groups. Everyone deserves help in the form of
- Loan rescheduling
Malaysia became the first country in the world where its banking institution has issued an automatic moratorium on all bank borrowers with an estimated value of almost RM100 billion for a period of six months. After the end of the automatic moratorium, Bank Negara Malaysia (BNM) together with banking institutions have extended the moratorium program and loan repayment assistance starting October 2020. More than 700,000 applications have been received and 98 percent of borrowers have received moratorium. All those eligible for the moratorium only need to apply to their respective banks. The main principle for moratorium is responsibility and justice. For those who do not get the moratorium, they can still get it by applying to their respective banks.
For more information, please contact the respective bank, AKPK or BNMTELELINK to find out the available options to help them manage their debt thru telelink.bnm.gov.my / [email protected] or call 1-300-88-5465.
Borrowers who have problems with their respective banks can submit a complaint to BNMTELELINK at bnm.my/RAsurvey or directly ask questions via Bank Negara Malaysia’s Facebook.