The loan moratorium officially ended on 30 Sept 2020 and unless you’d made arrangements with your banks or fall into the category of borrowers eligible for an extension until 31 Dec 2020, you’ll need to continue repaying your loans from this month if you’d taken the moratorium.

But just as the moratorium ended, Bank Negara Malaysia (BNM) announced that if you hadn’t made any new arrangements with your banks but your financial situation changes in the coming months, like if you lose your income or get a pay cut, you can still talk to your banks about your options to repay your loans.

You can reach out to your banks any time before 30 June 2021 to talk about repayment assistance. If you do, and if you meet the requirements, your bank could offer you some options to help you with your repayments. Any applications for repayment assistance also won’t show up on your CCRIS records or credit reports.

Don’t forget, if you need more advice or want to look at other options for managing your loans, you can always get in touch with Agensi Kaunseling dan Pengurusan Kredit (AKPK).

You can also read our guides on Tackling Debt or browse our blogs for other topics to help you manage your finances.