Bank Negara: Borrowers whose incomes have fallen are eligible for lower monthly payments | Malaysia

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The logo of Bank Negara Malaysia can be seen in its headquarters in Kuala Lumpur on January 23, 2020. – Picture by Ahmad Zamzahuri

KUALA LUMPUR, June 2 – Bank Negara Malaysia (BNM) reiterated today that all borrowers who have suffered a decline in income, including salaries, allowances, commissions and household incomes, are entitled to a reduction in monthly payments based on the reduced income .

In a series of tweets about eligibility to cut monthly installments, the central bank clarified that Bantuan Sara Hidup / Bantuan Prihatin Rakyat’s B40 beneficiaries can choose either a three-month moratorium or a six-month monthly installment cut under the recent loan repayment assistance by 50 percent.

“Individual borrowers who have lost their jobs can also choose between a three-month moratorium or a 50 percent cut in monthly payments for six months,” added BNM.

The central bank also pointed out that micro, small and medium-sized enterprises, which were not allowed to operate during the lockdown, would also have either a three-month moratorium or a reduction in monthly payments for facilities with approved amounts up to RM 150,000. can choose 50 percent for six months.

For more information on loan repayment assistance, visit: http://bnm.gov.my/RA – Bernama



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