![Budget 2021: Low income B40 group can apply for 50 percent lower loan repayments 01]()
Malaysia’s Budget 2021 was tabled today by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, under very unusual CMCO circumstances. There’s nothing specific to the automotive industry, but on the topic of loan moratorium, the government has confirmed that there will be no extension.
However, Zafrul explained that the government is putting forward a set of targeted assistance packages for the B40 low income earners, as well as small and medium enterprises.
Eligible borrowers can choose between:
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- Delay monthly repayments for 3 months
- 50 percent reduction in monthly installments for six months
Meanwhile, the middle M40 income group can apply for adjustments to their repayments making a self-declaration process if they are facing income reduction.
All these initiatives will begin in December this year.
Over 15 years of experience in automotive, from product planning, to market research, to print and digital media. Garages a 6-cylinder manual RWD but buses to work.
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