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

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SUSuamcy
post Mar 24 2020, 10:09 PM

Patience is bitter, but its fruit is sweet
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Junior Member
637 posts

Joined: Nov 2019
QUOTE(ed1torz @ Mar 24 2020, 10:02 PM)
if you are infected automatically registered to kkm

how hard to find the rest so long they have your IC?
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Affected and infected different meanings. Perhaps the BNM has more detailed terms. Or else you can just register SSM and claim your online business is affected.

QUOTE(mrg220t @ Mar 24 2020, 10:03 PM)
I thought moratorium is a pause. Meaning as if this 6 months doesn't exist and continue paying after the 6 months the same amount. The interest shouldn't accrue in this 6 months.
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Yea, dont think it will be accrued.

SUSuamcy
post Mar 24 2020, 10:15 PM

Patience is bitter, but its fruit is sweet
****
Junior Member
637 posts

Joined: Nov 2019
QUOTE(wild_card_my @ Mar 24 2020, 10:13 PM)
I think it will. Banks will not eat up the losses as they still need to lay their depositors (fd) and other borrowers
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If interests only not so pain. But if the borrowers died, then it will become bad debts eh. sad.gif
SUSuamcy
post Mar 24 2020, 10:58 PM

Patience is bitter, but its fruit is sweet
****
Junior Member
637 posts

Joined: Nov 2019
QUOTE(dman @ Mar 24 2020, 10:48 PM)
This 6 months moratorium indicates MCO besar kemungkinan akan dipanjangkan?

Its abit out of sense 2 weeks MCO resulted in 6 months moratorium and they announce it now and not on near end of MCO unless there's insider knows MCO will most probably extending.
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It's dangerous if they don't extend because most likely will over 2000. It takes time for them to recover also. Incubation period 2-14days. Need another 2 more weeks for safety.
SUSuamcy
post Mar 24 2020, 11:41 PM

Patience is bitter, but its fruit is sweet
****
Junior Member
637 posts

Joined: Nov 2019
QUOTE(ComingBackSoon @ Mar 24 2020, 11:27 PM)
Can't wait to see what happens too.

In theory, giving the moratorium is supposed to help more borrowers to ultimately be able to repay their loan and thus improve bank profitability. In addition, allowing banks to dip into their capital buffer should be a positive because they have additional capital to utilise now. In a perfect market bank shares should rally...

But the market is in panic mode now. Nobody can predict what the market will do tomorrow.

Lets see..
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bank sectors will not affect much 1 la. cimb maybank rhb under gov. Plenty of cash from taxes. They don't depend on the shares market to survive.

Hong leong n public bank are strong and rich. 6 months delay will not affect them much.

This post has been edited by uamcy: Mar 24 2020, 11:44 PM
SUSuamcy
post Mar 25 2020, 08:24 AM

Patience is bitter, but its fruit is sweet
****
Junior Member
637 posts

Joined: Nov 2019
QUOTE(Liamness @ Mar 25 2020, 01:04 AM)
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.
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Can la. Your monthly installment is based on the duration of your loan, the longer the more expensive. The bank only delays your installment but they won't give you extra time on your loan for free.

The extra duration the banks can charge interest. How much is the interest you find out yourself. Just that under this moratorium, the bank cannot repossess your car and confiscate your house only even 6 months of not paying the installment.

This post has been edited by uamcy: Mar 25 2020, 08:27 AM

 

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