Loan repayment moratorium: Interest will be accrued, says BNM
- 4 years ago
Bank Negara Malaysia has issued a FAQ on the 6-month loan repayment moratorium, which clarified that borrowers need not apply as the process is automatic.
The central bank also clarified that the interest will continue to accrue during the deferment period.
This could result in higher subsequent instalment amount or an extension of the loan tenure.
The central bank also clarified that the interest will continue to accrue during the deferment period.
This could result in higher subsequent instalment amount or an extension of the loan tenure.