Six-month loan moratorium application opens today


THE six-month moratorium for all individuals, microenterprises and affected small and medium enterprises (SMEs) can be made starting today (July 7), which is in line with People’s Protection and Economic Recovery Package (Pemulih).

The approval will be given automatically upon applying.

“In addition to the moratorium, banks will also offer a reduction in instalments and other packages, including to reschedule and restructure financing to suit the specific financial circumstances of borrowers,” Bank Negara Malaysia (BNM) said.

Borrowers can opt-in online through a web form or an auto-generated email that will be available on banks’ websites to provide their personal and financing details.

Besides that, borrowers may also phone their banks and guidance will be provided by the customer service officer.

“If borrowers are unable to use these digital channels, they may also visit their bank branches to submit their request for the moratorium. However, they are advised to check with respective banks on any changes in operating hours or arrangements for over-the-counter services due to movement restrictions,” said BNM.

Borrowers must not have missed instalments by more than 90 days or be subject to bankruptcy/winding up proceedings at the time the request for repayment assistance is submitted.

Meanwhile, individual and SME borrowers who have financing with more than 90 days of missed payments are advised to contact Credit Counselling and Debt Management Agency (AKPK) to obtain suitable repayment assistance and also free financial advice at

SMEs including microenterprises can also request assistance through AKPK’s dedicated SME Help Desk at

BNM also advised borrowers that opting for repayment assistance will increase the overall cost of borrowing, as interest/profit will continue to accrue on deferred payments.

Banks will not charge interest on interest, or profit on profit (ie compounding interest/profit), or any penalty interest/profit during the period of assistance,” stated BNM.

Borrowers’ Central Credit Reference Information System records will not be affected by any form of repayment assistance received in 2021.

Borrowers who face any difficulties with their banks, or unreasonably increase in instalments, may put in complaints to BNMTELE LINK through