COVID-19 stimulus package: What’s in it for the middle-income group?

KUALA LUMPUR (March 27): The updated COVID-19 economic stimulus package by the federal government “leaves no one behind”, said Prime Minister Tan Sri Muhyiddin Yassin, which includes, for the first time, a one-off financial aid for the middle income group (M40).

Let's say you're part of a married couple working in the private sector, with a household income of between RM4,000 and RM8,000 per month.

Under the RM250 billion stimulus package, your household will be eligible for a one-off payment amounting to RM1,000, half of which will be paid in April and the remainder in May.

Payment of you and your spouse's housing loans and hire purchase loans can be deferred for six months, from April 1 to September 30.

You can also withdraw up to RM500 per month from your Employee Provident Fund (EPF) Account 2 for six months.

And if you participated in the Private Retirement Scheme, you can also withdraw up to RM1,500 from Account B.

Should you have life insurance or family takaful, insurance companies have agreed to provide policyholders a three-month moratorium on premium payments.

You will also get to enjoy free internet, as will all Malaysians, from April 1 onwards until the end of the Movement Control Order (MCO) period.

Separately, in a worst-case scenario where they are told to take unpaid leave, they can apply for special assistance from National Disaster Management Agency (Nadma), which entails the payout of RM100 a day during the MCO.

Stay calm. Stay at home. Keep updated on the latest news at www.EdgeProp.my. #stayathome #flattenthecurve

Click here to see residential properties for sale in Putrajaya.

Click here for more property stories.