PUTRAJAYA, July 29 2020: The moratorium on loan repayments for those who lost their jobs during the movement control order (MCO) period will be extended another three months from its original deadline on Sept 30.
Prime Minister Tan Sri Muhyiddin Yassin, who made the announcement today also said that monthly instalments will be reduced for those who had their salaries cut.
“For housing loans or personal loans, for example, monthly instalments will be reduced by the same rate at which their salaries were cut.
“This will only be for six months, although any extensions will be based on individuals’ current salary,” he said a special televised address.
The six-month moratorium was implemented on April 1.