Association of Banks in Malaysia (ABM) has announced that all bank customers with loan facilities with Malaysian commercial banks that are pegged to the Base Lending Rate (BLR) will automatically enjoy a lower monthly installment within the same loan tenure. The banks will be notifying the customer on the new lower monthly installments as well as the effective date of the new installment amount.
However, for those who wish to maintain the current monthly installment and hence shorten the loan tenure, you should get in touch with the banks' customer services to obtain further information.
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