Banks to cut loan repayments

From The Star Thursday February 26, 2009

Association of Banks said that the move by all commercial banks to cut installment amounts follows the request by the Government to help borrowers facing difficult economic times.

Bank Negara’s announcement of the reduction in the Overnight Policy Rate, reduction in the base lending rates of banks.

All commercial banks had agreed to cut loan repayment amounts across the board and maintain the original repayment period.

The hotlines are published at the association’s website www.abm.org.my. or toll-free service ABMConnect at 1-300-88-9980.

Furthermore, i get to know a new useful information from the recent MFPC Financial Planning Workshop.

If you are really unable to settle your debt like car loan, credit card and house loan. You may search for the help(free of charge) of AGENSI KAUNSELING DAN PENGURUSAN KREDIT(AKPK) from Bank Negara Malaysia. Toll free: 1800 88 2575
They have indeed great authorization power to ask your credit card bank or loan borrowing bank to reduce there interest rate in order to help you settle the debts faster and lighter burden. Beside that, they will educate their client(you) about debt management and financial planing too.

This is really a good association from Bank Negara.