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

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thxxht
post Mar 24 2020, 10:37 PM

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only for SME businesses
thxxht
post Mar 24 2020, 10:56 PM

Casual
***
Junior Member
368 posts

Joined: Oct 2008
QUOTE(Wedchar2912 @ Mar 24 2020, 10:46 PM)
moratorium means delay or temporary period where no payment is required.

however, normally interest will still be charged and after the moratorium, the payment amount will be recalculated to incorporate the accrued interest. So essentially, one would pay interest on interest accrued (ie not paid during the moratorium).

Look at the letter 1 shared by Buffolo Soldier at post 89, the footnote 1.
*
wait, so meaning additional interest on the interest itself?

 

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