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FINAL. No accrual of interest for your Hire-Purchase. Read on to understand.

Full statement below. Translated into English by me on the important announcement. Where there are discrepancies, the statement by the Finance Ministry is the official copy.

“An agreement has been reached with banking industry to ensure that the monthly instalment amount of the loan will remain the same for the borrower (whether conventional and Shariah) during the financing period. This meant there are NO additional charges during the moratorium period. Borrower may continue to pay the instalment as usual based on the terms of the agreement with their respective banks. This includes an additional 6 months for the entire financing schedule is they chose to take advantage of the moratorium.”

Full Statement from the Ministry of Finance as below.

Media Statement by Finance Minister, Ministry of Finance


Merujuk kepada saranan Kerajaan kepada industri perbankan mengenai pelupusan caj tambahan ke atas ansuran bagi pinjaman sewa beli (konvensional dan Shariah), sukacita dimaklumkan bahawa Kementerian Kewangan telah mencapai kata sepakat dengan industri perbankan berhubung perkara ini.

Persetujuan dicapai untuk menetapkan bahawa jumlah ansuran bulanan pinjaman tidak akan berubah bagi peminjam sewa beli (konvensional dan Shariah) sepanjang tempoh pembiayaan tersebut.

Ini juga bermakna tiada sebarang caj tambahan akan dikenakan sewaktu tempoh moratorium (penangguhan).

Sehubungan itu, peminjam akan perlu menyambung pembayaran ansuran seperti biasa berdasarkan terma-terma perjanjian dengan bank masing-masing, termasuk tambahan 6 bulan bagi keseluruhan jadual pembiayaan jika memilih untuk memanfaatkan moratorium tersebut. Maklumat lanjut boleh didapati daripada bank masing-masing. Kerajaan berharap keputusan ini akan dapat meringankan beban rakyat dalam tempoh yang mencabar ini.

YB Tengku Dato’ Sri Zafrul Tengku Abdul Aziz
Menteri Kewangan
6 Mei 2020

— end of media statement by Finance Ministry —

Okay, enough of the furore over the interest accrual. The Finance Minister has spoken and I think this should be the final statement already. Now would be how the banks will carry this out smoothly without a lot of issues. Okay, this may reduce some of the profits for the banks but let’s understand that it is also in the interest of the bank that their borrowers remain good borrowers after the moratorium too.

No point in insisting on winning but in the end if the borrowers go into a default, everyone loses. Of course, if you ask me, this interest accrual should not cause the borrower to default. I think it may be the full amount that will cause that damage if they are jobless for example. Be happy and well, if you should choose to take up this moratorium offer, please do what your banks tell you yeah. Earlier article here.

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Next suggested article: Guys ah,moratorium does not delay the desperate sellers, ok?

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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