Tertunggak

Lambat bayar.. if the last time you paid the loan was december 2019, by now you should have "3 months in arrears"

Ok thanks !

My choices are:

Car loan- no pay
House loan- no pay

Keeping cash at hand for safety and back up

Need k expert here, I'm paying for my house that is still in development

Iinm I'm just paying off interest right? and not principal because it's "progressive"

So in that case it's better for me to take up this moratorium right?

Will I be charged additional interest on the repayment amount that is deferred by 6 months during the period?

For conventional loans, interest will continue to be charged on the outstanding balance comprising of both principal and interest portion (i.e. compounded) during the moratorium period.

For Islamic financing, profit will continue to accrue on the outstanding principal amount. Such profit however will not be compounded in line with Shariah principles.

Banks are however not allowed to impose late penalty charges on the deferred amount. In other words, the loan/financing repayment is just deferred by 6 months.

More at https://www.malaysiakini.com/news/516688

Of course interest will continue to acrue.. the question is, whether that is ADDITIONAL interest ontop of the interest being accrued as usual.. for somebody like you, who teaches English.. im appalled at the level of your comprehensive skills..

Maybe you should call your bank up. Because that is what I did and was informed that there will not be any additional interest charged for this 6 months..

In anyways, im waiting for the bank letter before I make my move.

interests still accrue... continue paying if you can afford to

Will I be charged additional interest on the repayment amount that is deferred by 6 months during the period?


For conventional loans, interest will continue to be charged on the outstanding balance comprising of both principal and interest portion (i.e. compounded) during the moratorium period.

For Islamic financing, profit will continue to accrue on the outstanding principal amount. Such profit however will not be compounded in line with Shariah principles.

Banks are however not allowed to impose late penalty charges on the deferred amount. In other words, the loan/financing repayment is just deferred by 6 months.



What would happen to my loan/financing repayments after the deferment package period? How does being in the deferment package affect my interest payments after the 6-month period? Is there an increase in monthly payments, or longer tenure?


Interest/profit will continue to accrue on loan/financing repayments that are deferred. This means accumulated repayment amount during the deferment of repayment period will be added to the outstanding loan/financing amount.



More at https://www.malaysiakini.com/news/516688

So nowhere in there did it say Additional interest will be charged.. accrued interest is VERY different from ADDITIONAL interest..

For house outstanding balance yes, you will get hit because you are not reducing the amount. Which is fair.

But for all other loans, it doesnt matter if you pay in the next 6 months or not because they are fixed interest calculated from the start of the loan and doesn't consider the outstanding amount.. for all other loans, it is wise decision to delay repayment.

Heck.. can even say it is wise decision to delay housing loan repayments based on the fact that house loans have the lowest interest out of any type of secured loan.. you can use your cash to invest and out earn that interest.

I'm a bit confuse on this too
Check this from pbe, https://www.pbebank.com/Announcements.aspx?qid=2922#q2922
U need to apply though Old announcement

This post has been edited by exhauster: Mar 25 2020, 02:09 PM

But i saw the statement is issued on 23rd of March, i believe is not the latest one.

the best is call to bank and ask.

This post has been edited by David_Villa: Mar 25 2020, 02:07 PM

Interest/profit are both calculated based on the principal amount.

For conventional, the calculated interest will be added back to principal amount. Your next calculated interest will be based on the "enlarged" principal amount.

For Islamic, the calculated profit is not added back to the principal amount. Your next calculated profit will be based on the same principal amount. The total of profit amount is tracked separately.

how about auto debit? man its difficult without proper information. BNM should be more proactive

I have a loan/financing which is automatically deducted from my salary. Do I qualify for the deferment?

Yes. Please inform your company to stop the salary deduction if you wish to have your loan/financing repayments deferred. You should also contact your bank to inform them accordingly.

How should I notify the bank that I wish to opt-out of the deferment offer?

Please respond to the notification sent by the bank and informed that you wish to opt-out of the automatic deferment package, or continue to make timely and full repayment of your loan/financing.


More at https://www.malaysiakini.com/news/516688

Based on that, I think you need to manually intervene your autopayment.

You want BNM to come out with each and every detail for every bank and financial institution in malaysia

Maybank, cimb, affin, public bank, rhb,ambank, mbsb, bank rakyat, bsn, kuwait finance house etc??????????????!?

BNM does not handle your auto debit la....

Just contact your bank la aihhh

This post has been edited by akutaksempurna: Mar 25 2020, 02:41 PM

Maybe you should be more proactive and call your bank instead.

Thats for deduction from salary, mine is deducted from another account, i dont want the deferment. Been calling the bank since yesterday but only automated machine


Did i say that? I would not be asking here if the Bank CS picks up the call, been trying since yesterday.
Please go troll far2 away. DO you really think people are that dumb?

This post has been edited by blacklizard90: Mar 25 2020, 02:53 PM

been calling since yesterday, but only automated machine.

But accrued interest still going on.
What for?