Personal loan

BSN Interest-Free Personal Loan Increased To RM 10,000 For Flood Victims

KUALA LUMPUR (December 26): Bank Simpanan Nasional (BSN) will now provide an interest-free personal finance facility of up to RM 10,000 to flood victims instead of the RM 5,000 announced last week.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said RM100 million was allocated for this purpose to ease the burden on flood victims to purchase household equipment and furniture destroyed in recent disasters.

“The first six-month moratorium on the payment of monthly installments is open to flood victims across the country,” he said in a statement Sunday (December 26th).

This initiative via BSN was first announced by Prime Minister Datuk Seri Ismail Sabri Yaakob on December 22, 2021, as an initiative to ease the burden on flood victims.

The Prime Minister also announced loan repayment assistance for flood victims for home and mortgage loans, car loans, credit cards, as well as personal loans for up to six months. Among the facilities, we can cite the postponement or reduction of the installment repayment.

Besides BSN, Ismail Sabri said TEKUN Nasional has set aside a fund of RM 30 million for relief loans to micro, small and medium enterprises (MSMEs) affected by the floods.

“For loans up to RM 10,000, no interest rate is charged and a moratorium on repayment is granted for 12 months,” he added.

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