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 Breaking* BNM say no need to pay loans, for 6 months

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exhauster
post Mar 25 2020, 01:20 AM

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QUOTE(purplecar @ Mar 24 2020, 09:49 PM)
What does this mean in layman's term? I can temporarily stop paying my car loan for the next six months then continue after that?
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Dn play play, better check with bank
Based on the letter, both bank and u need to have consensus on this matter so that u are granted with moratorium (not automatically) and shall continue paying if u can afford
exhauster
post Mar 25 2020, 02:00 PM

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QUOTE(David_Villa @ Mar 25 2020, 10:45 AM)
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
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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
exhauster
post Mar 25 2020, 03:30 PM

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QUOTE(Zhik @ Mar 25 2020, 02:55 PM)
But accrued interest still going on.
What for?
*
That's y it doesn't applicable to most ppl
but if those ppl who have 5k cash left in bank and monthly installment is 2.5k, they can only survive 2 months without salary if their industry is severely impacted.

But ppl like u who are cash rich then don't even need to read news also no problem.
exhauster
post Mar 25 2020, 03:30 PM

Casual
***
Junior Member
427 posts

Joined: Sep 2006
From: KK



QUOTE(Zhik @ Mar 25 2020, 02:55 PM)
But accrued interest still going on.
What for?
*
That's y it doesn't applicable to most ppl
but if those ppl who have 5k cash left in bank and monthly installment is 2.5k, they can only survive 2 months without salary if their industry is severely impacted.

But ppl like u who are cash rich then don't even need to read news also no problem.

 

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