Loan moratorium for B40; increased aid for BPR recipients

 

The government and banks have agreed to grant a loan moratorium for those in the B40 group, as well as those who have lost their jobs and small businesses who can't operate during the total lockdown.

Prime Minister Muhyiddin Yassin also announced increased aid for Bantuan Prihatin Rakyat (BPR) recipients.

In a televised address tonight, Muhyiddin said for loan moratoriums, those eligible can either get a full moratorium for three months, or get a 50 percent reduction on repayments for six months.

According to Muhyiddin the full moratorium option will be applied automatically.

"I hope this moratorium announcement will help give some relief to bank borrowers

"Borrowers need only contact their respective banks to get this aid," Muhyiddin said. This is believed to be referring to the option of getting reduced loan repayment instead.

Meanwhile, for BPR recipients, households earning below RM2,500 will get an additional RM500, paid out at the end of June.

Households earning between RM2,501 and RM5,000 will get an additional RM300.

As for single BPR recipients, they will get RM100.

[More to follow] - Mkini