CM-7.6.2
Past version: Effective from 01 Oct 2011 to 30 Jun 2013
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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; and
(c) The ceilings on the charges have a retroactive effect i.e. covering existing and new credit facilities.
Amended: October 2011
Amended: January 2011
Added: April 2008
Amended: January 2011
Added: April 2008