PM: Six-month loan moratorium for all Malaysians, B40 to T20 – no job loss, reduced pay conditions and docs

PM: Six-month loan moratorium for all Malaysians, B40 to T20 – no job loss, reduced pay conditions and docs

Prime minister Tan Sri Muhyiddin Yassin has announced a six-month loan repayment moratorium for all Malaysians. This is similar to what was approved in the first MCO early last year.

While financial institutions have continued to provide targeted loan assistance to individuals impacted by Covid-19 and movement control orders, this time around, the moratorium is for everyone, from the B40 segment to the country’s top 20% earners (T20), and micro entrepreneurs.

There will be no need for proof of pay reduction or job loss, and no documents are required. Applications will open on July 7, and borrowers just need to apply with the bank and sign the amended loan agreement form. Approval will be automatic for individual borrowers. Small and medium enterprises (SMEs) can also apply, but for companies, it’s subject to review by the banks (not automatic).

“I hope that this moratorium initiative will help individual borrowers and SMEs in managing their cashflow during this challenging period. However, I would like to advice borrowers to use this offer wisely and if you’re not in desperate need, do not add to your financial commitments,” the PM added in his Covid-19 Pemulih bantuan announcement this evening.

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Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.



  • hazri on Jun 28, 2021 at 6:35 pm

    Lambat sangat Abah… Kite yang dah pegi kat Tailong macam mane pula. baru je picit keluar RM47,500 buat modal niaga Hostel bajet..

    Like or Dislike: Thumb up 1 Thumb down 8
    • Kenny Tan on Jun 29, 2021 at 11:21 am
      Boleh bagitahu kerajaan supaya kecualikan negeri Selangor dari angka Covid19 nasional kerana tanpa angka dari negeri tu, mmg angka harian bawah 4000 kes sehari. Knp negeri lain turut dan terpaksa tanggung lockdown? Kerajaan nak bagi semua negeri/sektor/peniaga/rakyat mampus? Ketatkan SOP untuk semua negeri yg lain je. Yg kat Selangor tu, tutup/tingkatkan SOP yg lebih ketatlah.

      Amir on Jun 29, 2021 at 1:42 pm
      Siapa yg berkerajaan di Selangor? Pakatan Harapan. Diaorang akan dengar Federal Gomen? Jangan harapanlah!

      Like or Dislike: Thumb up 10 Thumb down 1
      • Kykyky on Jun 29, 2021 at 6:01 pm

        Amir, tolong jangan guna berita lama. Itu berita pada 16 May, sebelum FMCO pada 28 May.

        Tengoklah berita yang terbaru ni (dari UTUSAN UMNO)

        Miti yang memberi kebenaran untuk kilang-kilang beroperasi di Selangor dan menyumbang kepada kluster covid di Selangor.

        MITI bawah Kerajaan Negeri atau Persekutuan?

        Like or Dislike: Thumb up 5 Thumb down 5
        • Darren on Jun 29, 2021 at 10:48 pm

          MITI is very clear about which factories can be operation in Selangor
          1.Aeroangkasa (komponen dan maintenance, repair and overhaul – MRO)
          2.Makanan dan minuman
          3.Bahan pembungkusan dan percetakan hanya berkaitan bahan makanan dan kesihatan
          4.Barang-barang penjagaan diri dan bahan pencuci
          5.Keluaran penjagaan kesihatan dan perubatan
          6.Barang penjagaan diri, peralatan perlindungan diri (PPE) termasuk sarung tangan getah dan peralatan keselamatan kebakaran
          7.Komponen bagi peranti perubatan
          8.Elektrikal dan Elektronik (kepentingan rantaian ekonomi global)
          9.Minyak dan gas (Oil and Gas) termasuk petrokimia dan produk petrokimia
          10.Mesin dan peralatan hanya berkaitan kesihatan dan makanan sahaja
          11.Tekstil untuk pengeluaran PPE sahaja
          12.Pengeluaran, penyulingan, penyimpanan, pembekalan dan pengagihan bahan api dan pelincir

          And yet we hear these news (Ismail Sabri: 113 factories ordered to close during lockdown) so is it MITI fault or human greed? Why Selangor state allowed them to open?

          Like or Dislike: Thumb up 3 Thumb down 0
        • Bro. MITI only allowed factories manufacturing essential goods & products to continue running but under strict SOP. Other than those you can blame the State.

          Like or Dislike: Thumb up 2 Thumb down 0
  • I repeat. Can’t wait for people to become now expert of those finance, economic, pandemic, virology, infectious diseases, etc and brag on forums.

    Like or Dislike: Thumb up 15 Thumb down 1
  • Syukur on Jun 28, 2021 at 6:52 pm

    Now the boss stop paying 6 months of company cars,
    1 company car easily 1 B40 worker salary.

    While company competing to survive and be stronger.

    Like or Dislike: Thumb up 3 Thumb down 0
  • YB Albert on Jun 28, 2021 at 7:35 pm

    Lets pause for a moment and reflect.Why we are in this lockdown and bailout predicament.
    In April – May ,there were opening up of schools,and worst still bazaars at full steam.
    The lesson no one seem to learn is “Covid is a cluster disease”.Poor ventilation coupled with close proximity is the perfect recipe for the current state of covid explosion.
    Say,we manage to bring the cases down to below 4k cases daily,but poor compliance and poor enforcement make the figures creep up again.How many lockdowns can we afford?
    By MCO4.0 ,the banks will perhaps say ‘we cant continue moratoriums.Perhaps we only grant 30% moratoriums.”
    To make matters worst,we have a senior menteri blatantly eating in a cafe and a renowned singer having a durian feast.How to expect everyone to comply with sops when those VVIPs are blatantly showing bad examples?
    The battle with covid is already lost if there are inconsistencies and non compliance from the start.
    Many who have been retrenched are economic beggars now,alto we dont see them on the streets begging for food.
    The rakyat is simply left speechless by the current situation.

    Like or Dislike: Thumb up 21 Thumb down 6
    • It really exploded after Sabah elections and that is the tipping point in the up til then successes of holding back covid infections.

      As a counterpoint, yesterday the Swedish Govt has collapsed due to their PM loss support of his MPs. But rather than taking the imbecilic route of clinging to power and calling for an election, as happened in Sabah, he chosen to resign and prevent such an event stating that “a snap election in mid-pandemic was not what is best for Sweden”.

      And now we have one side, chaffing to hold national elections despite the warnings from that eminent Swede, despite emeritus doctors had published an open letter pleading for govt stability and not to have elections until this is over.

      What’s worse recently we had a state minister lying thru her teeth and hiding tons of vaccines from the rakyat claiming there were shortage but was embarrassingly chastised and show the true figures by our esteemed Covid-19 National Immunisation Programme (NIP) coordinating minister.

      I’m speechless at some of our YBs and ministers level of lust for power and recognition. Why can’t they be magnanimous like Mr Stefan Lofven, the Swede ex-PM that gave way to starve a catastrophe?

      Like or Dislike: Thumb up 38 Thumb down 2
      • Taiwan, Singapore, New Zealand and South Korea also held their elections in 2020. I wonder why there are no large covid cluster break out in these place?

        Like or Dislike: Thumb up 1 Thumb down 5
        • Darren on Jun 29, 2021 at 10:32 pm

          Is it? Taiwan, Singapore, NZ and SK are in their own umpteen lockdowns now. India with their recent elections has gave up controlling their own outbreaks leading to Sydney’s lockdown.

          Like or Dislike: Thumb up 2 Thumb down 0
    • Copy Paste on Jun 29, 2021 at 2:48 pm

      Copy paste:
      SO HOW NOW???
      Happy ?
      before that u were Playing with rhetorics now the impact all Malaysian suffer..
      Good move!!! guys”

      Like or Dislike: Thumb up 10 Thumb down 4
  • Interest still on.

    Like or Dislike: Thumb up 4 Thumb down 0
  • But will there be interest charged on the deferred loan ?

    Like or Dislike: Thumb up 0 Thumb down 0
    • Following last year’s arrangement the loan period should be lengthened without penalties but make it what you will if preferring to delay loan repayment when you still can afford it.

      Take the PM’s advice, if you can continue repayment then do it. If you cannot afford it, your worries on extra interest should be the least of your concerns.

      Like or Dislike: Thumb up 8 Thumb down 4
  • Vince on Jun 29, 2021 at 5:35 pm

    Everything started back after the Sabah election. You want power and recognition, this makes us today.

    The government is doing all wrong, making us “rakyat” to suffer. They think they are helping, think again. We never ask for it, but we are force to it.

    Thank you very much.

    Like or Dislike: Thumb up 3 Thumb down 1
  • Pak Cik buat kira kira on Jun 29, 2021 at 6:16 pm

    …….great news! We suffer longer now. Thanks.

    Like or Dislike: Thumb up 2 Thumb down 2
    • Darren on Jun 29, 2021 at 10:52 pm

      Suffer longer or die a quick death, your choice. At least you got a choice unlike many other people.

      Like or Dislike: Thumb up 0 Thumb down 0
  • Airol on Jun 29, 2021 at 7:21 pm

    Bank beri kelulusn semua…kecuali Kad kredit…bagaimana bayran yg disatukan sekali CTH loan Kereta, personal loan, kad kredit disatukan semuanya utk satu pembayaran saja….adakah permohonan moratorium nie jga bole Lulus……

    Like or Dislike: Thumb up 0 Thumb down 0
    • Sick & Tired on Jun 30, 2021 at 4:10 pm

      Your credit card is not a loan. If you have problems paying that your issues are way deeper than Covid, lockdown, MCO, or moratorium.

      Like or Dislike: Thumb up 1 Thumb down 0
  • Norsakinah BT Abd Motalik on Jul 07, 2021 at 3:01 pm

    Six month moratorium

    Like or Dislike: Thumb up 0 Thumb down 0
  • MOHD NASIR BIN BAKAR on Jul 07, 2021 at 11:02 pm


    Like or Dislike: Thumb up 0 Thumb down 0
  • Lebai Sidi on Jul 12, 2021 at 1:53 pm

    Selangor paling tinggi penyumbang COVID19, negeri lain turut terkena tempiasnya. Kata pepatah, org lain makan nangka,org lain turut terkena getahnya. Org lain mkn nasi, org syg x makan pun turut kenyang.

    Like or Dislike: Thumb up 0 Thumb down 0
  • Halafizam bin zaini on Jul 12, 2021 at 2:39 pm

    Halafizam zaini

    Like or Dislike: Thumb up 0 Thumb down 0
  • Hassan Muda bin Jamdah on Jul 23, 2021 at 10:30 pm

    Mohon moratorium kereta SAB 2636 W 6 bulan 100%

    Like or Dislike: Thumb up 0 Thumb down 0
  • Sethumadavan on Aug 02, 2021 at 12:31 pm

    Hi, for the Moratorium did we still needs to apply for it or Automatic arrange by bank? I have housing loan at RHB , Hire Purchase at Ambank and Maybank.
    Can anyone guide me. Thanks

    Like or Dislike: Thumb up 0 Thumb down 0
  • Foong Seow Hooi on Aug 10, 2021 at 5:29 pm

    Work from home

    Like or Dislike: Thumb up 0 Thumb down 0
  • Sharasu Satthi on Sep 12, 2021 at 11:05 pm

    I want apply for car loan for 6 months

    Like or Dislike: Thumb up 0 Thumb down 0
  • Kathy on Dec 31, 2021 at 1:35 pm

    Siti khatijah binti al vakri

    Like or Dislike: Thumb up 0 Thumb down 0

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