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

Bank Negara announces automatic six-month moratorium on all bank loans — except for credit card balances

KUALA LUMPUR, March 24 — Bank Negara Malaysia (BNM) tonight has ordered an automatic six-month moratorium on all bank loans — except for credit card balances — for those affected by the Covid-19 outbreak.

In a statement, BNM said the measure was designed to ease the cash flow of small and medium-sized enterprises and individuals that are likely to be most affected by Covid-19.

“Banking institutions will grant an automatic moratorium on all loan/financing repayments/payments, principal and interest (except for credit card balances) by individuals and SME borrowers/customers for a period of six months from April 1, 2020,” the statement read.

The moratorium was among the additional measures announced by BNM, which it said are designed to ensure that “the financial intermediation function of the financial sector remains intact, access to financing continues to be available and banking institutions remain focused on supporting the economy during the exceptional circumstances”.

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

so what's make the different before and after the announcement by BNM?