{"id":17764,"date":"2021-07-09T20:00:00","date_gmt":"2021-07-09T12:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/moratorium-bank-negara-loan-payment.html"},"modified":"2026-03-26T16:00:36","modified_gmt":"2026-03-26T08:00:36","slug":"moratorium-bank-negara-loan-payment","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/government-policy\/moratorium-bank-negara-loan-payment.html","title":{"rendered":"6 Things To Know About The Moratorium Before You Sign Up For It"},"content":{"rendered":"\n

The latest moratorium that recently started on July 7th 2021<\/a> is the second one the government has announced since the pandemic began. There are some differences between this moratorium and the previous one. <\/p>\n\n

For one, this moratorium will be available to the B40 and M40 groups, and to small to medium enterprises (SMEs)<\/strong>. Whereas, the first moratorium was only open to the B40 group. There are some other differences which we will look at in the points below. But we will also look at how this moratorium is going to work, so you can decide whether or not you want to opt in.<\/p>\n

Related<\/strong>: Highlights on PM Muhyiddin\u2019s RM150 Bil Pemulih Aid Package<\/a><\/p>\n

1. You\u2019ll still need to pay later<\/h2>\n

If this is your first time signing up for the moratorium, you should know that a moratorium is just a \u2018pause\u2019 in payments<\/strong>. Basically, you will be given 6 months off from paying back your loans but you will have to continue paying back once the 6 months have lapsed. <\/p>\n

So, make sure you don\u2019t make the mistake of thinking that a moratorium actually is a \u2018discount\u2019 for your loan. It doesn\u2019t actually waive payments for 6 months.<\/p>\n

2. You\u2019ll need to apply for it<\/h2>\n

While this moratorium will be made available to more people, it won\u2019t be given to you just like that. There\u2019s an application process, and either there\u2019ll be a form on your bank\u2019s website to fill up, or your bank will send you an application form via email<\/p>\n

For those who aren\u2019t tech savvy and might not know how to fill online forms, you can head over to the bank in person. But do check if your bank\u2019s operating hours have changed or if certain branches are closed during the MCO\/EMCO.<\/p>\n

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3. You\u2019ll need to fulfill certain criteria<\/h2>\n

 Thinking of signing up already? Hold your horses because…there are some criteria you need to fulfill before being given the moratorium. Per Bank Negara Malaysia’s website<\/a>:<\/p>\n