New Regulations on Home Loans and Personal Loans (Infographic)
Are you in the midst of securing a personal loan or a home loan from a bank in Malaysia? Then you NEED to know about this!
On 5 July 2013, Bank Negara Malaysia (“BNM”) introduced a set of new regulations that affect ALL home loans and personal loans in Malaysia – which include significant reductions in the maximum loan periods banks and financial institutions are allowed to offer to consumers. The measures were taken in order to combat excessive household indebtedness that is now affecting the Malaysian populace.
In this infographic, iMoney explains what the new regulations are, why BNM is doing it, and how they affect all bank loan borrowers in Malaysia from here on.
Courtesy of: iMoney.my
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