These types of pieces help you to feel the benefits of paying off debts faster in Ramadan. Usually banks can provide very large deductions, even up to 70% of the total debt that is still in arrears! Of course the bank will not arbitrarily give a discount, the bank will see again the age of arrears, the amount of arrears, and the customer’s financial condition. From here, later the bank can predict the ability to pay owned by the customer. If you want to get this opportunity, provide at least 50 – 70% of the total debt you have. Later if the bank is big enough and gives a large amount of deductions, you will be asked to make a payment of at least 10% of the total arrears, and immediately pay off the remaining outstanding arrears a few days later.

Low Interest Discount with Extended Tenor

The second type of relief program is a low-interest discount with an extended tenor. This type of lightening will indeed take longer due to installments. However, for those of you who do not have the readiness of funds to pay off debts in one payment, such as point 1, then this step is most appropriate. Installments provided can usually be up to 60 months (5 years), once again the bank will also see more arrears, large arrears, and the customer’s financial condition. The interest charged is also not as big as the interest in general which ranges from 2.25 – 2.95%, but can be lower than the two numbers which certainly can relieve you. If you are interested in this type of program, then what is needed is of course a commitment to consistently pay off debt every month. To participate in this program, at least customers must provide 1x the amount of installments after the discount, and continue the remaining payment until the tenor is complete.

Discounts / Combined Both

Discounts / Combined Both

This type of lightening is a combination of the two types of pieces above. The difference is, you will not get a maximum discount and installment. For example, in the type of 1x discount discount program you can get a discount up to 70%, in the installment discount program you may only get a 30% discount. Similarly, the length of the installment tenor, if on the program you can repay up to 60 months, then in this program you might only be able to repay as much as 6 times. Back again, all these things can only be obtained if the bank has weighed its policies.