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)
- 29th November 2023
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
Astro 4K Ultra HD Broadcast To Be Available For Subscription By The End of This Year
Brian Chung
- 14th August 2018
By the end of 2018, Astro customers will be able to watch football matches in Ultra HD. Read on to know more about the 4k Ultra HD service.
Post Image
Best High Interest Savings Accounts In Malaysia (September 2023)
Pang Tun Yau
- 11th September 2023
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.

Related articles

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