{"id":68817,"date":"2025-10-02T17:14:13","date_gmt":"2025-10-02T09:14:13","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=68817"},"modified":"2025-10-02T17:27:24","modified_gmt":"2025-10-02T09:27:24","slug":"bnm-wants-malaysians-to-seek-financial-education","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education","title":{"rendered":"BNM Wants Malaysians To Seek Financial Education Before Taking Big Loans"},"content":{"rendered":"

Bank Negara Malaysia (BNM) has made a staggering announcement. According to a recent <\/span>policy update<\/span><\/a>, Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module. This policy is expected to take effect from 2027 onwards.<\/span><\/p>\n

BNM states that these big loan borrowers will have to complete the session \u2013 which will have to be conducted by either their lender or the Credit Counselling and Debt Management Agency (AKPK). Said session is designed specifically to help borrowers make more informed financial decisions.<\/span><\/p>\n

In addition to this, lenders are also being empowered to recommend these financial education sessions to customers that they deem \u201chigh-risk\u201d, regardless of the amount being borrowed.<\/span><\/p>\n

The new policy also imposes stricter disclosure requirements on the lenders. This is good news for borrowers and lenders will now have to inform them of the effective interest rate. This makes it more clear as to how much customers will actually be borrowing.<\/span><\/p>\n

BNM says that the changes to the policy is a necessary measure to combat problems stemming from lending practices that are contributing to unsustainable household debt.<\/span><\/p>\n

Due to fierce competition between lenders, many promotions and offers tend to look cheaper and more affordable at first glance, but can result in excessive debt and financial hardship for customers who are not financially savvy.<\/span><\/p>\n

Ultimately, the new rules are aimed at strengthening consumer safeguards and will apply to all licensed banks, Islamic banks, and development financial institutions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

This policy is expected to take effect from 2027 onwards.<\/p>\n","protected":false},"author":58,"featured_media":68818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[293,216,9],"tags":[521,522,2847,2043,1039,982,667],"class_list":["post-68817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-news-updates","category-personal-loan","tag-bank-negara-malaysia","tag-bnm","tag-borrowing","tag-financial-education","tag-loan","tag-news","tag-personal-loan"],"acf":[],"yoast_head":"\nBNM\u2019s Policy Requires Borrowers To Undergo Financial Education<\/title>\n<meta name=\"description\" content=\"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNM\u2019s Policy Requires Borrowers To Undergo Financial Education\" \/>\n<meta property=\"og:description\" content=\"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-02T09:14:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-02T09:27:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordan Low\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jordan Low\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education\"},\"author\":{\"name\":\"Jordan Low\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\"},\"headline\":\"BNM Wants Malaysians To Seek Financial Education Before Taking Big Loans\",\"datePublished\":\"2025-10-02T09:14:13+00:00\",\"dateModified\":\"2025-10-02T09:27:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education\"},\"wordCount\":256,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/02171214\\\/education-growth-concept-assortment.jpg\",\"keywords\":[\"Bank Negara Malaysia\",\"BNM\",\"Borrowing\",\"Financial Education\",\"Loan\",\"News\",\"personal loan\"],\"articleSection\":[\"Education\",\"News Updates\",\"Personal Loan\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education\",\"name\":\"BNM\u2019s Policy Requires Borrowers To Undergo Financial Education\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/02171214\\\/education-growth-concept-assortment.jpg\",\"datePublished\":\"2025-10-02T09:14:13+00:00\",\"dateModified\":\"2025-10-02T09:27:24+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\"},\"description\":\"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#primaryimage\",\"url\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/02171214\\\/education-growth-concept-assortment.jpg\",\"contentUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/02171214\\\/education-growth-concept-assortment.jpg\",\"width\":1200,\"height\":628,\"caption\":\"Image Source: freepik.com\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/bnm-wants-malaysians-to-seek-financial-education#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News Updates\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/category\\\/news-updates\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"BNM Wants Malaysians To Seek Financial Education Before Taking Big Loans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\",\"name\":\"Jordan Low\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"caption\":\"Jordan Low\"},\"description\":\"With a background in history and public relations, Jordan has ample experience in business and creative writing, especially in the field of SMEs and Human Resources.\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/author\\\/jordan-low\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BNM\u2019s Policy Requires Borrowers To Undergo Financial Education","description":"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education","og_locale":"en_US","og_type":"article","og_title":"BNM\u2019s Policy Requires Borrowers To Undergo Financial Education","og_description":"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.","og_url":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education","og_site_name":"iMoney Malaysia","article_published_time":"2025-10-02T09:14:13+00:00","article_modified_time":"2025-10-02T09:27:24+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg","type":"image\/jpeg"}],"author":"Jordan Low","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jordan Low","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#article","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education"},"author":{"name":"Jordan Low","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6"},"headline":"BNM Wants Malaysians To Seek Financial Education Before Taking Big Loans","datePublished":"2025-10-02T09:14:13+00:00","dateModified":"2025-10-02T09:27:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education"},"wordCount":256,"commentCount":0,"image":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg","keywords":["Bank Negara Malaysia","BNM","Borrowing","Financial Education","Loan","News","personal loan"],"articleSection":["Education","News Updates","Personal Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education","url":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education","name":"BNM\u2019s Policy Requires Borrowers To Undergo Financial Education","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg","datePublished":"2025-10-02T09:14:13+00:00","dateModified":"2025-10-02T09:27:24+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6"},"description":"Malaysians who are seeking personal loans that are above RM100,000 will be required to attend a mandatory financial education module.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#primaryimage","url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg","contentUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2025\/10\/02171214\/education-growth-concept-assortment.jpg","width":1200,"height":628,"caption":"Image Source: freepik.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/bnm-wants-malaysians-to-seek-financial-education#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"News Updates","item":"https:\/\/www.imoney.my\/articles\/category\/news-updates"},{"@type":"ListItem","position":3,"name":"BNM Wants Malaysians To Seek Financial Education Before Taking Big Loans"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6","name":"Jordan Low","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","caption":"Jordan Low"},"description":"With a background in history and public relations, Jordan has ample experience in business and creative writing, especially in the field of SMEs and Human Resources.","url":"https:\/\/www.imoney.my\/articles\/author\/jordan-low"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/68817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=68817"}],"version-history":[{"count":1,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/68817\/revisions"}],"predecessor-version":[{"id":68819,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/68817\/revisions\/68819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/68818"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=68817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=68817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=68817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}