CM-8.6.2
Past version: Effective from 01 Apr 2008 to 31 Dec 2010
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The CBB imposes a ceiling on the early repayment charges on consumer and mortgage loans as follows:—
a. For consumer loans 1% of the outstanding loan amount or BD100 whichever is lower;
b. For mortgage loans, 0.75% of the outstanding loan amount or BD200 whichever is lower.
c. The ceilings on the charges have a retroactive effect i.e. covering existing and new loans.
Added: April 2008