just want to know if my payment is due on 28th March do i still need to pay it for the Moratorium case ?

already email AKPK to clarify on this, will update you all once there is any update thank you

Morning guys, below is the info from AKPK FB Page.

Frequently Asked Questions (FAQs)

1. Does AKPK allow deferment on loans repayment under the Debt Management Programme (DMP) following Bank Negara Malaysia (BNM) announcement on 25 March 2020?

Yes, AKPK will also grant an automatic deferment of DMP instalments for a period of six (6) month from April 2020 to September 2020.

2. Do I need to apply for the deferment?

No. All DMP customers will automatically qualify for the deferment.

3. What are the facilities eligible for automatic deferment?

All facilities that are under the DMP (including credit cards) are eligible.

4. What about facilities restructured under the DMP where payments are directly deducted from salary? Do these facilities qualify for the deferment?

Yes, such facilities qualify for automatic deferment. However, you should inform your company to stop the salary deduction.

5. Does the automatic deferment by AKPK apply to facilities from non-financial institutions like Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), TEKUN Nasional and Credit Cooperatives?

Yes, so long as the facilities are in the DMP.

6. Can I opt out of the automatic deferment package, and if so, how can I do that?

Yes, you can opt out by continuing to make full and timely payment of your DMP instalments. In fact, if your cash flow is not seriously affected by COVID-19 outbreak, we encourage you to continue making payments as deferment will involve additional interest/profit.

7. Will I be charged additional interest on the repayment amount that is deferred by six (6) months during the period?

• For conventional loans, interest will continue to be charged on the outstanding balance during the moratorium period.

• For Islamic financing, profit will continue to accrue on the outstanding principal amount.

This means that only repayment is deferred and not the accruement of interest/profit. Your repayment tenor will be extended by 6 months.

8. I have applied deferment for March 2020 and my application was already approved. Am I eligible for the automatic deferment, and when is my next payment date?

Yes, you are eligible for the automatic deferment and the next payment date will be after the six (6) months’ deferment period i.e. in October 2020.

9. My DMP is currently one (1) month in arrears. Am I eligible for the deferment, and how long will the deferment period be?

Yes, you are eligible for the automatic deferment so long as your DMP is still active prior to April 2020. Your next payment due is October 2020, but your DMP will indicate one (1) month in arrears.

10. Can I apply for a deferment of more than six (6) months?

No. The maximum deferment period for the DMP is six (6) months only.

11. My application has just been approved in March 2020 but I have not made the first payment to activate the DMP. Will I be automatically eligible for the deferment?

Yes but only if you make the first payment and activate the DMP before 31 March 2020. The automatic deferment applies to all active DMP customers.

12. What if I submit DMP application during the deferment period i.e. from April 2020 to September 2020? Will I be automatically granted a deferment as well?

No. Your application will be treated as per normal DMP application, and deferment, if any, will be accorded on a case-by-case basis depending on the merit of the case.

13. I have made advance payments until April 2020. Can I request for a refund?

No. Funds received will be disbursed to your credit provider as and when received (i.e. April 2020)

14. My DMP was terminated on 1 March 2020 and I have promised to settle all arrears on 30 April 2020 to activate the account. Am I eligible for automatic deferment?

No. Automatic deferment is not applicable to terminated DMP.

because you didn't pay for March. The defer payment is start from April, so you need to pay for March and April start until September no need to pay only start paying it back as normal on October 2020. Hope this explanation can answer your questions. Anyway please save some money if possible cos we don't know this Covid issue will last until when ya. Cheers man and stay safe.