In case you didn’t know, the six-month moratorium that was recently announced begins on 7 July 2021 and is available for all individuals, micro-enterprises and small and medium-enterprises (SMEs). This moratorium was announced in line with the National People’s Well-Being and Economic Recovery Package or Pemulih.
If you wish to opt-in for the plan or need to restructure your repayment packages, Bank Negara has announced that it is easy to apply and you don’t need to provide supporting documents. Approval for the moratorium will be given automatically. Bank Negara also said that individuals who want to apply for the moratorium can do so through the banks’ websites or other digital channels.
Otherwise, you can also call the customer service centres of the respective banks or visit the banks’ branches to opt-in for the moratorium. This assistance is only applicable for loans that were approved before 1 July 2021, borrowers have not missed any instalments by more than 90 days or are currently undergoing bankruptcy or business closure procedures.
You can get more information and apply for the moratorium by referring to the list below for the respective banks’ websites.
2. Public Bank
7. RHB Bank
12. Bank Rakyat
13. Affin Bank
15. Bank Islam
17. Bank Muamalat
Let’s get through this together!