CM-7.6.2
Past version: Effective from 01 Apr 2008 to 31 Dec 2010
To view other versions open the versions tab on the right
The CBB imposes a ceiling on the early repayment charges on consumer and mortgage credit facilities as follows:—
a. For consumer credit facilities 1% of the outstanding credit facility amount or BD100 whichever is lower;
b. For mortgage credit facilities, 0.75% of the outstanding credit facility amount or BD200 whichever is lower.
c. The ceilings on the charges have a retroactive effect i.e. covering existing and new credit facilities.
Added: April 2008