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  • Maximum Tenor Limit

    • CM-7.4.8

      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.

      October 07

    • CM-7.4.9

      The CBB does not believe it prudent for licensees to encourage the provision of credit facilities by offering long-term borrowing to fund short-term consumption. The CBB will review the development of market practices in this respect and will consider further measures if required.

      Amended: January 2012
      Amended: January 2011
      October 2007