From the article

"However, a footnote at the letter pointed out that there will still be an accrual of interest."

https://www.malaymail.com/news/malaysia/202...ns-exce/1849820

So... can any /k confirm, for house loan, we can just stop paying the loan for 6 months? I know loan duration will be extended


this is automatic right? No need inform bank

Need some banking staff here to help

This post has been edited by James1983: Mar 25 2020, 07:25 AM

erm. i hv a new loan for a property under construction.
Means interest free for 6 months ka?

Its a flexi loan, so during these period, making advance repayments got no benefits?

ok read few times the bnm notice

1. ccris wont be affect
2. no interests accrued
3. if ur remaining tenure is 12 months, it will be 12 + 6 months
4. can opt out by writing in
5. credit card got separate program

happy to be corrected

Need more details from banks and how are they going to inform customers and SMEs? If banks send letters to office, who the hell is going to read it?

Can opt out, means by default I can just stop paying ya?

Ok so now it is logically no accrual interest and CCRIS is out of the equation.

For a layman like me, I better be ready to pay (opt out) for the second month if first month doesn't look good. Have to wait for the story to develop first I guess, it's not even 1st April yet.

If this really automatic, imagine the day that you can fork out extra 500 from EPF and no need to pay mortgage/car loan/ptptn

Suddenly become rich fag, raya summore, everyone drink starbucks like water. Even for that 6 month.

Thats the whole idea

Making the munnie flow freely elsewhere instead of the banks lol

The idea is to flood market kau kau with liquidity

Imagine 6 months of raya / cny shopping spree

shud check with ur bank, i think some foreign banks not in the list... like my hsbc

deferred payment, that's all...it doesn't mean u get to pay less or bank is getting less...interest rate is still ongoing for this 6 deferred payment months(people need to remember this)

Listened to the 7am radio news. It says only applicable to those with conditions met. It's not full auto for everyone.

But there are only 2 conditions

1. not in arrears for 90days as of 1Apr
2. denominated in Ringgit

This post has been edited by James1983: Mar 25 2020, 07:55 AM

Which radio station?

Interest would be accrued, and it depends on the bank whether to extend your tenure or increase your monthly repayment amount. Credit cards are excluded (because its essentially a risky unsecured loan).

Ha ha ha govt not giving you anything but allowing you to delay your debts merely prolonging your indebtness to the bank. If interest accrued then you are compounding that debt. Basically this government is saying screw your future use your future savings now because we got no money to give.

Better wait for pc from bnm

You are brilliant!!!