Back Custom print Link Text Only Rich Text Print

  • CM-8.6 CM-8.6 Refunds and Prepayments

    • Refund/Adjustment of Insurance Pemium on Loan Prepayments and Top-Ups

      • CM-8.6.1

        Banks/financing companies must refund/adjust proportionately the insurance premium charged on individual loans when the borrower either requests for a top-up or prepayment of the loan as per the prescribed formula below:

        Refund/Adjustment Amount = Remaining period to Maturity X Premium Paid
         Original Maturity 
        Added: April 2008

    • Early Repayment Fees/Charges

      • CM-8.6.2

        [This paragraph was deleted in April 2018].

        Deleted: April 2018
        Amended: July 2013
        Amended: January 2011
        Added: April 2008