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

Thanks

Sigh.. A rebate is a rebate.

That is totally different from saying that the hire purchase interest will increase or reduce due to the suspension of loan payments..

You cant suddenly accrue more intetest on your car loan. It's not possible when your payment schedule and interest is fixed from start to finish.. now, at the end of the tenure, the bank may give you a discount for early settlement or a penalty for being late. But again, that is totally different from scenario like this where you are lawfully allowed to suspend your loan for 6 months.  Your payment schedule and interest is still fixed.. the only thing that has changed is the end date. That's all..

And your example of accrued interest still doesnt work for car or even personal loans where the interest isn't based on days but rather on your payment schedule. I.e. 60 monthly payments of X amount until the end of Y date.. the interest has already been precalculated and built in..

Hence, the banks cannot charge you interest whilst your loan ia being suspended. It's pretty clear to me on this rule. And my example of how would you charge interest on predetermined or fixed loans such as hire purchase is one of the compelling reasons why the banks won't charge interest on any loan suspension. Including your house loan. They have got to be fair and apply all equal rules across the board.. so if they can't do it for one type of loan, means they should be consisrent and not apply additional interest across the board..

At least that's my logic to this.

what if i choose to continue pay? can?

Where got free lunch?

I am more interested to know if I can continue to service my loans.

Hi does this include progressive payment as well?

wait, so meaning additional interest on the interest itself?

perghhh 6 bulan no need pay. can save so much plus raise additional emergency fund

Your logic doesn't apply. i don't want to say it, but it turns out that I am right and you are wrong. Now please respect each other, we are just discussing. I am not asking for your apology, but stoip being such a tightass about this whole thing.

Source: https://www.bnm.gov.my/documents/2020/FAQs_...%20Measures.pdf

Where got free lunch?

I am more interested to know if I can continue to service my loans.

I think they opt to do this for all because current BLR also low, once the period over and economy gooding, they revise the BLR. That time, your loan got extended already so, will need to use new BLR.

so i should contact the bank if i wanna continue with my loan repayment?

Yes but give it a few days before you call..

Let them come up with the details first

along still hv to pay onot?