Banks will waive compounded interest and penalty charges during the six-month loan moratorium under the PEMULIH economic recovery package, confirmed Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. The government raised the issue with banks, which agreed to it. Borrowers are advised to consult their banks about repayment methods as each bank has different terms. The moratorium aims to assist individuals and SMEs in managing cash flow, with automatic approval for affected borrowers across income categories.ZAFRUL: BANKS TO WAIVE INTEREST, PENALTY CHARGES OVER MORATORIUM
Banks will waive compounded interest and penalty charges during the six-month loan moratorium under the PEMULIH economic recovery package, confirmed Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. The government raised the issue with banks, which agreed to it. Borrowers are advised to consult their banks about repayment methods as each bank has different terms. The moratorium aims to assist individuals and SMEs in managing cash flow, with automatic approval for affected borrowers across income categories.
