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 MORATORIUM PEMBIAYAAN BANK SEMPENA WABAK COVID

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mini orchard
post Jul 19 2021, 10:31 AM

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QUOTE(vl319 @ Jul 19 2021, 03:57 AM)
Take 9k put on epf and compouming for 9 years stll earn monry
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With the reasoning, is better not to buy a car.
Azury36
post Jul 21 2021, 07:37 AM

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QUOTE(victorian @ Jul 18 2021, 11:24 PM)
If you remember, moratorium 1.0 originally comes with accrued interest for hire purchase loan, only after people make noise they turn and don't charge interest for HP loan.

So it's not that moratorium 2.0 suddenly put accrued interest, it has always been this way. The first one was a bonus.

There's no reason for me to defend the banks. I'm just speaking from a realistic point of view, unlike some people who are so accustomed to handouts and tongkats that when it is taken away from them, they complain the banks are cheating their money.

And FYI, giving moratoriums without charging interest is basically free loan. The banks are not earning anything on the money that is deferred (in a way borrowed to the customer). If you are not sure how money works, I will suggest you to read up first before acting smart here.
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Realistic? By bringing about ASB and loses from banks? which has nothing to do with a Housing loan

You are delusion about yourself and think that you are realistic, funny

where is your proof the original Moratorium 1.0 got accrued interest on hire purchase? Or you just delusion again
victorian
post Jul 21 2021, 08:38 AM

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QUOTE(Azury36 @ Jul 21 2021, 07:37 AM)
Realistic? By bringing about ASB and loses from banks? which has nothing to do with a Housing loan

You are delusion about yourself and think that you are realistic, funny

where is your proof the original Moratorium 1.0 got accrued interest on hire purchase? Or you just delusion again
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READ.

https://soyacincau.com/2020/05/01/bnm-morat...crued-interest/
rapple
post Jul 21 2021, 08:40 AM

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QUOTE(Azury36 @ Jul 21 2021, 07:37 AM)
Realistic? By bringing about ASB and loses from banks? which has nothing to do with a Housing loan

You are delusion about yourself and think that you are realistic, funny

where is your proof the original Moratorium 1.0 got accrued interest on hire purchase? Or you just delusion again
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He is right that HP moratorium 1.0 has interest in the beginning.

All business has only one priority is to make profit and so does your employer without profit you are jobless by now.

And you want free interest loan ya? Why not sell your house and rent instead see whether the landlord will give you moratorium or not.

Probably best you look at yourself before saying someone else is delusional. You have a mindset problem.
SUSxander83
post Jul 21 2021, 08:48 AM

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QUOTE(Azury36 @ Jul 21 2021, 07:37 AM)
Realistic? By bringing about ASB and loses from banks? which has nothing to do with a Housing loan

You are delusion about yourself and think that you are realistic, funny

where is your proof the original Moratorium 1.0 got accrued interest on hire purchase? Or you just delusion again
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The interest is still accruing but deferred to be paid upon moratorium period ends

Hence moratorium is only to seize interest to be paid but defer interest to be accrued in the future instead doh.gif
Azury36
post Jul 21 2021, 08:35 PM

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QUOTE(victorian @ Jul 21 2021, 08:38 AM)
READ.

https://soyacincau.com/2020/05/01/bnm-morat...crued-interest/
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"As highlighted by Kuching MP Kelvin Yii, Bank Negara had stated clearly on its FAQ dated 27th March, that there will be No additional interest/profit charged during deferment"

Clearly from the beginning of 27th March no additional interest for HP which I said was true.

It should be 27 March with no accrued interest but on May as the Central Bank stated misperception about accrued of interest and resumed as on 27th March which no accrued interest

But you mention there was an accrued interest from the beginning but then made a U turn which your statement clearly wrong.

https://www.lexology.com/library/detail.asp...88-74efd17d7ec9

This post has been edited by Azury36: Jul 21 2021, 08:42 PM
victorian
post Jul 21 2021, 08:53 PM

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QUOTE(Azury36 @ Jul 21 2021, 08:35 PM)
"As highlighted by Kuching MP Kelvin Yii, Bank Negara had stated clearly on its FAQ dated 27th March, that there will be No additional interest/profit charged during deferment"

Clearly from the beginning of 27th March no additional interest for HP which I said was true.

It should be 27 March with no accrued interest but on May as the Central Bank stated misperception about accrued of interest and resumed as on 27th March which no accrued interest

But you mention there was an accrued interest from the beginning but then made a U turn which your statement clearly wrong.

https://www.lexology.com/library/detail.asp...88-74efd17d7ec9
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Seriously, you need to brush up your English man. I can't even make out what you are trying to say...

It's ok la you win, come I'll give you your medal. Now pergi main tepi if you can't have open discussion without bringing in your emotions and grievance towards the banks
Anson Wong 412
post Jul 22 2021, 09:57 AM

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QUOTE(damos_csui @ Jul 15 2021, 04:49 PM)
Good for you! Still no news for me..
I'm guessing your hire purchase still in the early years? (thus quite large interest?)
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start 2017/Nov, about 3 years plus. I'm already opt out since need pay so much interest. higher than my monthly installment. sad.gif
Anson Wong 412
post Jul 22 2021, 09:57 AM

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QUOTE(zwanvedder @ Jul 16 2021, 12:58 PM)
How much ur monthly installment?
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Monthly is RM1075
Jenn77
post Jul 22 2021, 10:11 AM

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QUOTE(xander83 @ Jul 21 2021, 08:48 AM)
The interest is still accruing but deferred to be paid upon moratorium period ends

Hence moratorium is only to seize interest to be paid but defer interest to be accrued in the future instead  doh.gif
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Yup this is correct for HP. While housing.. i got a big shock of my life looking at the interest accrued. It was added into the principal after mora 1.0 ended. Had to korek my personal savings to cover it. Shit. dry.gif
mini orchard
post Jul 22 2021, 02:28 PM

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QUOTE(Jenn77 @ Jul 22 2021, 10:11 AM)
Yup this is correct for HP. While housing.. i got a big shock of my life looking at the interest accrued. It was added into the principal after mora 1.0 ended. Had to korek my personal savings to cover it. Shit.  dry.gif
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Have you benefitted from the moratorium in terms of cashflow where you use the money for other more important purchase or settlement ?
Jenn77
post Jul 22 2021, 02:42 PM

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QUOTE(mini orchard @ Jul 22 2021, 02:28 PM)
Have you benefitted from the moratorium in terms of cashflow where you use the money for other more important purchase or settlement ?
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Yup, not very significant. biggrin.gif
SUSxander83
post Jul 23 2021, 01:33 AM

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QUOTE(Jenn77 @ Jul 22 2021, 10:11 AM)
Yup this is correct for HP. While housing.. i got a big shock of my life looking at the interest accrued. It was added into the principal after mora 1.0 ended. Had to korek my personal savings to cover it. Shit.  dry.gif
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Then whenever you accrued does it been hit with interest again when it ends?

Because that’s where the banks actually more money but they complicitly silent about it and wishing it was automatic instead doh.gif


Azury36
post Jul 23 2021, 08:02 PM

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QUOTE(victorian @ Jul 21 2021, 08:53 PM)
Seriously, you need to brush up your English man. I can't even make out what you are trying to say...

It's ok la you win, come I'll give you your medal. Now pergi main tepi if you can't have open discussion without bringing in your emotions and grievance towards the banks
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This I quoted from your own statement

"If you remember, moratorium 1.0 originally comes with accrued interest" which your statement totally wrong


1)On 27th March 2020 the BNM clearly stated that no accrued interest on HP
2) On 1st May 2020 the BNM stated HP moratorium is include accrued interest but made a U-turn

So clearly not only did you fail to understand the original statement but also you failed terribly your own statement.

btw

Seriously, your English is terrible

I think you need to brush up on your English sleep.gif

"if you can't have an open discussion" sleep.gif

Digging your own grave. Please brush up on your English




flyt0thesky
post Jul 25 2021, 05:18 PM

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Anyone here apply the option 3 moratorium for housing loan under MBB? which is 6 months moratorium + pay 50% monthly instalment for 9 months. Any tnc to apply option 3?
Soul Seeker
post Jul 25 2021, 08:31 PM

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Is there any deadline to apply this moratorium ?
mini orchard
post Jul 26 2021, 10:22 AM

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QUOTE(Soul Seeker @ Jul 25 2021, 08:31 PM)
Is there any deadline to apply this moratorium ?
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There is no mention of deadline. Those who need it have applied and approved except those with few months instalment arrears.

If one is not sure he needs the moratorium, better to apply.

Get it done b4 month end as all banks computer system is programmed to start next month.
yong116
post Jul 26 2021, 12:57 PM

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Guys, seeking for some explanation on my mortgage loan, want to know more details before i make decision on this Moratorium 2.0.
Below are some details of my mortgage loan:

Loan Type: CIMB Flexi Mortage Loan Number
Current Interest Rate: 3.2%
Assuming Total Outstanding: RM500K
Assuming Installment Per Month: RM1980
Assuming Interest Per Month: RM1333.33
Assuming Interest after 6 months (taking Moratorium) : RM8000

If i'm resume to pay the same installment RM1980/month after 6 months and onwards until maturity of my tenure:

1. How long it would be taken to complete the loan?(must e exceeding 35 years but how to get the actual tenure?)
2. Total extra payment should be around RM20k after 35 years?

MUM
post Jul 26 2021, 01:07 PM

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QUOTE(yong116 @ Jul 26 2021, 12:57 PM)
Guys, seeking for some explanation on my mortgage loan, want to know more details before i make decision on this Moratorium 2.0.
Below are some details of my mortgage loan:

Loan Type: CIMB Flexi Mortage Loan Number
Current Interest Rate: 3.2%
Assuming Total Outstanding: RM500K
Assuming Installment Per Month: RM1980
Assuming Interest Per Month: RM1333.33
Assuming Interest after 6 months (taking Moratorium) : RM8000

If i'm resume to pay the same installment RM1980/month after 6 months and onwards until maturity of my tenure:

1. How long it would be taken to complete the loan?(must e exceeding 35 years but how to get the actual tenure?)
2. Total extra payment should be around RM20k after 35 years?
*
while waiting for value added responses,
i got this from this site,....

https://www.cimb.com.my/content/dam/cimb/pe...ng-09072021.pdf

This post has been edited by MUM: Jul 26 2021, 01:08 PM


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victorian
post Jul 26 2021, 01:13 PM

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QUOTE(yong116 @ Jul 26 2021, 12:57 PM)
Guys, seeking for some explanation on my mortgage loan, want to know more details before i make decision on this Moratorium 2.0.
Below are some details of my mortgage loan:

Loan Type: CIMB Flexi Mortage Loan Number
Current Interest Rate: 3.2%
Assuming Total Outstanding: RM500K
Assuming Installment Per Month: RM1980
Assuming Interest Per Month: RM1333.33
Assuming Interest after 6 months (taking Moratorium) : RM8000

If i'm resume to pay the same installment RM1980/month after 6 months and onwards until maturity of my tenure:

1. How long it would be taken to complete the loan?(must e exceeding 35 years but how to get the actual tenure?)
2. Total extra payment should be around RM20k after 35 years?
*
Take rm8000 and roll it over the remaining tenure at a rate of 3.2% (assuming OPR doesn't change). Final amount payable should be around 25k + 1980 (final installment). Amount should be higher since OPR will probably increase over the years.

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