PETALING JAYA: A civil servant distressed by a huge jump in his bank loan repayment has found relief after FMT published his story.
The bank has contacted him and the problem has been resolved.
Yesterday, FMT reported that he was in a quandary after receiving a letter from the bank telling him that its base rate had increased from 2.60% to 2.85%, resulting in an increase of more than RM600 in his monthly repayment.
His monthly repayment was RM1,450, but he was asked to increase it to RM2,072 following the adjustment.
The man, who has five children, took a personal loan of RM100,000 four years ago and has about two years left to settle it.
“Thank God everything is now resolved,” he told FMT.