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

    • RM-2.9.1

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

      Refund/Adjustment Amount = Remaining Period to Maturity X Premium Paid / Original Maturity
      July 2014