KUALA LUMPUR: Bank Negara Malaysia (BNM) today reiterated that all loan borrowers who have suffered a drop in income, including salary, allowances, commissions and household incomes, are eligible for a reduction of monthly instalments according to the reduced income. In a series of tweets detailing the eligibility for reduction of monthly instalments, the central bank clarified that under the latest loan repayment assistance, the B40 recipients of Bantuan Sara Hidup/Bantuan Prihatin Rakyat can choose either a three-month moratorium or reduction of monthly instalments by 50 per cent for six months. BNM wishes to clarify that under the latest loan repayment assistance, B40 who are recipients of BSH/BPR can CHOOSE:1/ Moratorium for 3 months; or2/ Reduction of monthly instalment by 50% for 6 months. — Bank Negara Malaysia (@BNM_official) June 2, 2021"Individual borrowers who have lost their jobs can also choose either a three-month moratorium or reduction of monthly instalments by 50 per cent for six months,” added BNM. For further information on the loan repayment assistance, visit: http://bnm.gov.my/RA -- Bernama

Source: The Star June 02, 2021 06:34 UTC