10 FAQ : Moratorium in Hire Purchase And Fixed Rate Islamic Financing

Bank Negara Malaysia has published their FAQ's Frequently ask question about  Moratorium in Hire Purchase And Fixed Rate Islamic Financing on May 1 2020 through their social media platform. The FAQ's are include 10 of these question related to Moratorium :

Read Also : Malaysia Best Credit Cards and Malaysia Best Personal Loans.




10 FAQ : Moratorium in Hire Purchase And Fixed Rate Islamic Financing /  Image Via BNM


1. It was previously announced that the 6 months payments deferment for Hire Purchasing and Fixed Rate Islamic Financing is automatic. Has there been any reversal in this decision?

2.Why are other Loan/Financing (Ex : Mortgages, Personal Loans, Business Loan ) not similarly affected?

3.Is there any changes for Borrowers and Customers to Qualify for Hire Purchase and Fixed Rate Islamic Financing payment deferment

4.It's already the beginning of May, Is there a changes to payment deferment period for this Financing Facilities?

5.For Fixed Rate Islamic Financing are there any additional legal fees if a new agreement is required? 

6.How would my Hire Purchase or Fixed Rate Islamic Financing monthly installments change after the deferment period?

7.Do i still have a chance to opt out of the payment deferment now if i had not done so previously?

8.I have not made any payments in April Since i did not opt out the deferment earlier. If i decide to opt out now, will i be charged any late payment penalties? What will happen to my CCRIS Records?

9.Do Borrowers and Customers have a choice on weather to extend the financing tenure or increase the monthly installments after the deferment period?

10.Following the announcement by the BNM. I felt short changed. I thought the repayment terms on Hire Purchase and Fixed rate Islamic Financing after the payment deferment periods ends are not suppose to changed. Will i lost out from benefit's the six months payment holiday?

Find the answer on the image below :
 10 FAQ : Moratorium in Hire Purchase And Fixed Rate Islamic Financing
 10 FAQ : Moratorium in Hire Purchase And Fixed Rate Islamic Financing

For more complete information about this 10 FAQ : Moratorium in Hire Purchase And Fixed Rate Islamic Financing you can download the PDF version for your perusal Here


Finance
5/03/2020 10:07:00 PG
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