BC-1.2.4
a) Include the expression ‘interest free’ or any similar expression when there is implicit interest embedded in the product or service;
b) Include the descriptions of product or service as ‘free’ or ‘with no cost’ or any similar expression if any type of fee would be imposed;
c) Include the descriptions of feature of a product or service as ‘guaranteed’ or ‘secured’ or use a similar expression unless the bank communicates all the necessary information, and present that information with sufficient clarity and prominence to make the use of that term fair, clear and not misleading;
d) Contain any statement such as “the best in”, “the most competitive”, “the best rate in”, “the first in”, ‘the highest’ or ‘the lowest’ or ‘the best’ in the market unless it is fully supported by evidential documents;
e) Emphasise any potential benefits of a product or service without also giving a fair and prominent indication of any relevant risks; and
f) Disguise, omit, diminish or obscure important information, statements or warnings.
Added: January 2022