Finance Ministry: 2 Million Borrowers Contacted By Banks For Loan Extension
Author Avatar

(Image: Bernama)

As of 28 August 2020, two million borrowers who could need help servicing their loans post-moratorium have been contacted by their banks, the Finance Ministry has revealed.

Out of the contacted borrowers, 1.1 million have given their feedback, with 300,000 confirming that they do require assistance their loan repayments. According to Deputy Finance Minister II Mohd Shahar Abdullah, the remainder are still weighing their available options.

maybank bank counters

(Image: The Star)

“These figures will continue to rise substantially with borrowers enjoying the ease of application through the various channels provided,” said Shahar in reply to a question at the Dewan Negara. “Of the total number of completed applications for assistance with loan repayments received and processed, 97% have been approved.”

The deputy minister further revealed that the application process for individual customers is expected to take between 1-5 days. For small and medium-sized enterprises (SMEs), it is expected to take between three days to two weeks. Finally, he added that the public need not worry as their application for post-moratorium loan assistance will not appear in their Central Credit Reference Information System (CCRIS) report.

(Source: Malay Mail)

0 0 votes
Article Rating


Comments (0)

Notify of
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 26th January 2022
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Shopee Introduces SPayLater, Lets Users Buy Items Now And Pay Later
Alex Cheong Pui Yin
- 18th January 2021
Shopee has introduced a new payment feature that lets its Malaysian users purchase items and pay for them […]
Post Image
Best High Interest Savings Accounts In Malaysia (October 2021)
Pang Tun Yau
- 6th October 2021
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!
Post Image
Historical EPF Dividend Rates
The RinggitPlus Team
- 3rd March 2021
Ever wondered how this year's EPF dividend rate compares to previous years? We got you covered with our historical 11-year chart!

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image