PETALING JAYA: Bank Negara Malaysia’s six-month moratorium on loan repayments in light of the Covid-19 crisis may come as a relief for many, but this breather is accompanied by several conditions depending on the bank in question.
For loans with Public Islamic Bhd, customers who defer loan repayments will not pay more profit charges.Interest and profit will continue to accrue on loans and financing repayments that are deferred. “The interest will be slightly higher as the loan principal is not repaid or reduced during the moratorium period,” it said on its website.“Such profit however will not be compounded in line with shariah principles,” it said.
“Upon expiry of the moratorium period, the repayment will be adjusted to reflect the interest and financing charges imposed,” it said.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Slew of measures from BNM to cushion impact of outbreak [NSTTV]NSTnation: The central bank said financial institutions in Malaysia were well-positioned to do so, given the large financial buffers that had been built over the years. BNM covid19 coronavirus MCO MovementControlOrder
Source: NST_Online - 🏆 17. / 53 Read more »
No more than two lawyers or litigants in court from April 1FROM April 1, the Singapore courts will allow no more than two lawyers or litigants per party to appear at a hearing, as part of the raft of measures introduced in the wake of the Covid-19 outbreak.
Source: staronline - 🏆 4. / 75 Read more »
India extends ban on international flights until April 14NEW DELHI (The Straits Times/ANN): Prolonging its international border control measures, India on Thursday (March 26) extended its ban on all scheduled international commercial passenger flights until midnight local time on April 14.
Source: staronline - 🏆 4. / 75 Read more »
MCO extended to April 14PUTRAJAYA: The movement control order (MCO) has been extended to April 14, with the Prime Minister saying that he will inform the public if there is a need to extend it further.
Source: staronline - 🏆 4. / 75 Read more »
TrevoCares Pass rent a car promotion till April 5KUALA LUMPUR: The Trevo people-to-people car sharing marketplace is offering rent-a-car promotions till 5 April 2020, for practical vehicles with a daily rate of below RM300 daily only. Under the TrevoCares Pass promotion, the TrevoPass 1 pass allows you to keep the car for 7 days at the rental cost for only 5 days. Just use the TRAVELSAFE1 code when you make your booking. The second option is TrevoPass 2, which allows you to use the car for 14 days, but only pay for 8 days of rental. To choose this option, use the TRAVELSAFE2 code when you book. This promotion is in conjunction with the Movement Control Order (MCO) situation to contain the...
Source: staronline - 🏆 4. / 75 Read more »
Perintah kawalan dilanjutkan sehingga 14 AprilTrend semasa menunjukkan kes positif Covid-19 baru masih berlaku. FMTNews KawalanPergerakan
Source: fmtoday - 🏆 5. / 72 Read more »