Government Announcement: 29th July 2020
Presented by: PM YAB Tan Sri Dato Haji Muhyiddin
Summary from Lanjutan Moratorium dan Bantuan Bank Bersasar
Loan moratorium will be extended for those in need
👋Who will benefit from this initiative:
1. If you lose your job in year 2020 and have yet to get a new job -> You can apply for the moratorium to be extended for 3 months
2. If you are working but your salary/income is reduced due to covid-19 ==> you can apply to reduce the monthly payment
👋ADDITIONAL BENEFITS FOR SMEs & Sole Prop
1. opt to pay for interest only for a specific period of time
2. Lengthen the duration of loans to reduce the amount monthly payment
👋When will this initiative begin?
==> You can approach your bank from 7th August 2020 onwards.
Full text of the speech below: