The Malaysian Insight

PRIME Minister Muhyiddin Yassin today announced a six months moratorium on loan repayments for individuals across all income groups. 

Individuals in the Bottom 40, Middle 40 and Top 20 groups as well as micro entrepreneurs will be eligible for the scheme. 

“No more conditions such as income reduction, no more checks on whether you have lost your jobs and no more documentations will be required.

“You just have to apply and an automatic approval will be given,” he said when announcing the RM150 billion Pemulih economic aid package today. 

Muhyiddin said applications will be opened on July 7 and applicants will only have to apply and agree to the terms and conditions. 

The latest loan moratorium is similar to the one offered during the first lockdown in March last year. 

However, the latest is only applicable to those who apply for it unlike last year’s, which was automatic for everyone. – June 28, 2021.

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