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MORATORIUM PEMBIAYAAN BANK SEMPENA WABAK COVID
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netcrawler
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 Mar 25 2020, 10:25 AM
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QUOTE(eric.tangps @ Mar 25 2020, 06:54 AM) Moratorium is a payment holiday up to 6 months, hence interest on the loan still charged. It is not like zero interest period for 6 months. So it is either you continue payment or just enjoy 6 months payment holiday and let your loan balance increase for the next 6 months. Better to pay promptly if you are able too. Otherwise you will need to pay extra interest. Not interest free. If interest free bank will go burst This post has been edited by netcrawler: Mar 25 2020, 10:26 AM |
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netcrawler
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Mar 25 2020, 12:23 PM
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HP loan or car loan not stated clearly enough. HP loan interest is calculated upfront, dont if delay for 6 months how they accrue the interest
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netcrawler
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Mar 26 2020, 11:06 AM
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QUOTE(aeiou228 @ Mar 26 2020, 11:56 AM) [attachmentid=10457766] Let's discuss faq#15. BNM didn't state clearly that the accrued interest will be added (or rather compounded) to the outstanding loan balance on the monthly basis during the 6 moths moratorium period OR added after the 6 mths moratorium period. I guess it all depend on the respective bank. I read somewhere that HSBC will not do the monthly compounding on the accrued interest. Please report what's your bank policy on the treatment of the 6 months moratorium accrued interest. I also get the info that HSBC will not compound the interest during moratorium. Guess it's subject to the individual bank if they will compound the interest. |
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netcrawler
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Feb 2 2021, 12:07 PM
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Bank gave 6 months moratorium but still charge interest beside extending 6 months repayment period. It's not really help instead burden the borrowers. It's like a scam as many thinking it's interest free for last 6 months and continue paying after moratorium ended.
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