The Minimum Loan Repayment rate has been decreased to
min. payment 5%
min. payment 8%
min. payment 10%
The minimum payment amount will be automatically adjusted in your bill, from April 2020 onwards. You do not need to contact TMRW.
You can also request for the following:
Defer the principal and interest payments for 3 cycles
Convert your outstanding balance* into an installment plan of up to 48 months
(For direct impacted customers as per the Bank criteria, interest rate will be adjusted to 12%)
*Excluding installment transaction occurred before joining this programme
Customers are able to register this Financial Assistance Program from now till 30 June 2020 through:
Why do TMRW’s monthly interests for instalment plan seem a bit higher than other banks?
The interests shown on TMRW application are effective rates, not exceeding 1.32% per month, which are equal to a flat rate interest of 0.74% per month. When calculating the total amount customers have to pay during the instalment period, including interest, the total amount will be same.
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