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 Breaking* BNM say no need to pay loans, for 6 months

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Mr. Najib Razak
post Mar 24 2020, 10:39 PM

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QUOTE(doomvein @ Mar 24 2020, 10:38 PM)
ask them fight at mesin ikan with rm500 modal. who last standing win la.
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kenot
now RMO
wild_card_my
post Mar 24 2020, 10:40 PM

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QUOTE(boyslikeboys @ Mar 24 2020, 10:38 PM)
Wow just wow. Delusional at its finest.

Btw I do this for a living too? You’re just an insurance agent it seems so hows accounting your day to day language? Debit credit?

What a joke
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hey bro, I am happy to be proven wrong, and I am open to accept new information as long as they are backed with facts presented in good light.
Mr. Najib Razak
post Mar 24 2020, 10:40 PM

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QUOTE(GreenSamurai @ Mar 24 2020, 10:39 PM)
So if I am richfag can I just pay like normal?
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richfag buy with cash

boyslikeboys
post Mar 24 2020, 10:42 PM

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QUOTE(wild_card_my @ Mar 24 2020, 10:40 PM)
hey bro, I am happy to be proven wrong, and I am open to accept new information as long as they are backed with facts presented in good light.
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Before u start barking you are from accounting and finance background , I simply shared that there was no mention of any accrued interest etc. It was blanket all payments and interest and you went on being full retard.
wild_card_my
post Mar 24 2020, 10:43 PM

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QUOTE(boyslikeboys @ Mar 24 2020, 10:42 PM)
Before u start barking you are from accounting and finance background , I simply shared that there was no mention of any accrued interest etc. It was blanket all payments and interest and you went on being full retard.
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Ok lah everyone here went full retard.
SUSkevin23
post Mar 24 2020, 10:43 PM

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QUOTE(koja6049 @ Mar 24 2020, 10:36 PM)
who says no accrued interest?  rolleyes.gif
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Dont have interest. Plain and simple english in the bnm letter

Moratorium on principal and interest

So stop thinking too much la u all

Simple things become complicated because of idiots who complicate simple stuff
and85rew
post Mar 24 2020, 10:44 PM

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QUOTE(kevin23 @ Mar 24 2020, 10:33 PM)
No need to pay ur loans for 6 months and no accrued interest whatsoever

Means u pay 3k for ur car now. U can stop paying for 6 months and 6 months later continue paying again

Same goes for housing loan and personal loan

Its automatic blanket moratorium

No u dont have to prove u were affected, because covid affected everybody as there was a 2 week lockdown which affect everyone regardless u are infected or not

And this lockdown might be even extended

So its as simple as that.

Oh credit card not included ya
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no.3 in the letter states the otherwise
koja6049
post Mar 24 2020, 10:44 PM

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QUOTE(kevin23 @ Mar 24 2020, 10:43 PM)
Dont have interest. Plain and simple english in the bnm letter

Moratorium on principal and interest

So stop thinking too much la u all

Simple things become complicated because of idiots who complicate simple stuff
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please look up investopedia on the meaning of moratorium before you spout your bullshit here smile.gif
JonSpark
post Mar 24 2020, 10:45 PM

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QUOTE(Starbucki @ Mar 24 2020, 09:48 PM)
6 months still charge interest or not?
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I need to know this as well
Momo33
post Mar 24 2020, 10:46 PM

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QUOTE(kevin23 @ Mar 24 2020, 11:33 PM)
No need to pay ur loans for 6 months and no accrued interest whatsoever

Means u pay 3k for ur car now. U can stop paying for 6 months and 6 months later continue paying again

Same goes for housing loan and personal loan

Its automatic blanket moratorium

No u dont have to prove u were affected, because covid affected everybody as there was a 2 week lockdown which affect everyone regardless u are infected or not

And this lockdown might be even extended

So its as simple as that.

Oh credit card not included ya
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it is not that simple lah..
read and understand the T&C .

it say you have to show that you are effected... and cannot pay the loan ... eg got terminated,
no free ride man nod.gif



This post has been edited by Momo33: Mar 24 2020, 10:46 PM
Wedchar2912
post Mar 24 2020, 10:46 PM

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moratorium means delay or temporary period where no payment is required.

however, normally interest will still be charged and after the moratorium, the payment amount will be recalculated to incorporate the accrued interest. So essentially, one would pay interest on interest accrued (ie not paid during the moratorium).

Look at the letter 1 shared by Buffolo Soldier at post 89, the footnote 1.
SUSDaylight2018
post Mar 24 2020, 10:47 PM

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Malas la
I will pay as usual
acbc
post Mar 24 2020, 10:47 PM

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CC will be the one killing everyone else.
ju146
post Mar 24 2020, 10:47 PM

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QUOTE(bill11 @ Mar 24 2020, 09:47 PM)
So bank stock will gg for their coming gg? as the loan principal and interest is granted delay ?
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EPF, KWAP, PNB is there to hold their ball
romuluz777
post Mar 24 2020, 10:47 PM

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Each monthly instalment to the home loan consists of credit towards the principal amount and a portion for interest to the bank. The moratorium is temporarily stopping repayment of both.
Incarnation
post Mar 24 2020, 10:47 PM

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Even bank industry have to suffer? they still need to pay FD interest leh
krizalid88_real
post Mar 24 2020, 10:47 PM

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QUOTE(Momo33 @ Mar 24 2020, 10:46 PM)
it is not that simple lah..
read  and understand the T&C  .

it say you have to show  that you are effected...  and cannot pay the loan  ... eg    got terminated, 
no free ride  man  nod.gif
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so what's make the different before and after the announcement by BNM?
19 Degree South
post Mar 24 2020, 10:48 PM

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BNM has neglected the life insurance policy payments .

This post has been edited by 19 Degree South: Mar 24 2020, 10:49 PM
dman
post Mar 24 2020, 10:48 PM

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This 6 months moratorium indicates MCO besar kemungkinan akan dipanjangkan?

Its abit out of sense 2 weeks MCO resulted in 6 months moratorium and they announce it now and not on near end of MCO unless there's insider knows MCO will most probably extending.
SUSkevin23
post Mar 24 2020, 10:50 PM

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QUOTE(and85rew @ Mar 24 2020, 10:44 PM)
no.3 in the letter states the otherwise
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Profit accrued

This one is for those islamic loan

Conventional loan dont have
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