Maximum tenor limit
CM-8.4.8
The maximum tenor for instalment consumer finance facilities is seven years. The tenor may not be extended more than twice during the period of the agreement.
CM-8.4.9
The Agency does not believe it prudent for licensees to encourage lending by offering long-term borrowing to fund short-term consumption. The Agency will review the development of market practices in this respect and will consider further measures if required.
