Should you opt out of the loan deferment?

Apr 03, 2020
Bank Negara Malaysia (BNM), on March 24, 2020, announced an automatic six-month moratorium on all bank loans starting from April 1, to assist borrowers who are facing temporary financial difficulties due to the COVID-19 outbreak. The deferment package allows small and medium enterprises (SMEs) and individuals to delay their loan repayments up to six months from April 1. The deferment includes conventional loans and Islamic financing repayment obligations (including mortgage loan and hire purchase loan), except for credit card balances. The question is, should individual borrowers such as for housing loans, take the deferment?