Budget 2021: Govt agrees to automatic moratorium on loans for B40 group and SMEs

Published on 26 Nov 2020 5:27:37 PM

The government has agreed to implement an automatic moratorium on loan repayments for those in the B40 group as well as micro and small-medium enterprises (SMEs).

This means that those in the B40 income group and micro SMEs do not need to submit any documents to be entitled to the three-month moratorium which will be implemented till December this year.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that during his winding up speech on Budget 2021 in Parliament on Thursday (Nov 26), adding that those in the M40 income group only need to make a document-free declaration at their respective banks and it will be approved within one to five days.

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