Back Custom print Link Text Only Rich Text Print

  • CM-7.6 CM-7.6 Refunds and Prepayments

    • Refund / Adjustment of Insurance Premium on Financing Prepayments and Top-Ups

      • CM-7.6.1

        Banks/financing companies must refund/adjust proportionately the insurance premium charged on individual credit facilities when the customer either requests for a top up or prepayment of the credit facility 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-7.6.2

        [This paragraph was deleted in April 2018].

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