car loan no need pay ?

Best to contact your banker, I sent an email to him this morning and he said got meeting in HQ this morning. Will update me on results

Which bank you using ah? Let us know the outcome here

Thanks

so do we have a final say on this yet?

is it defer both principle and interest or just principle?
is it auto for everyone or do we need to apply for the deferment with evidence of being affected by COVID-19?

This is so unclear.
I guess it is not applicable to everyone.
Only selected few.

I guess people still have to apply and submit documents about how they got affected and not able to pay a loan.

you cute

have to apply with high chances rejected or automatic?

1. Automatic here means what?
2. Only apply to covid19 related cases?

interest will still apply on the postponed payment. i hope it is not late payment interest

before everyone rush please note it is "no installment payment required, not no interest charged". Take it if you have to, but not to "enjoy". The interest that was supposed to be paid will snowball. 6 months of snowballing principal + interest is not pretty.

The only think I am unclear is car loan / hire purchase as those don't normally have daily rest interest.

Got interest? If got interest, after 6 months...Kantoi!

normally payment moratorium = no late payment charge

How about rental? I rent a shop, the landlord can get moratorium but not me? How is it fair?

get RM5mil loan....then fake dead by covid 20

land lord always win..

like my case...i rent from land lord, then as a hostel/airbnb, i do biz...rent out to tenants..

seem its automatically applied to everyone, this is from the FAQ

Do I need to apply?

No. All individual and SME loans/financing (excluding credit cards) that meet the criteria will automatically qualify for the deferment.

source BNM : https://t.co/m57LsxkYMq?amp=1

some said the payment will be resumed on sept, which means nothing to pay for this 6 month. it is auto which means everyone that is good paymaster will get this benefit, unless u call the bank to reject this offer and continue paying like normal.

some also said the interest is compounded which means in sept there will be higher price to pay right? or else?

some also said this benefit only for certain consumers i.e those who took unpaid leave.

anyone from banking industry can clarify? haywire right now lol

so unclear isnt it?

lagi confusing

Oh no