Bank Negara: 10-year personal loan cap stays

KUALA LUMPUR: Bank Negara will not review its directive on the maximum personal loan repayment period of 10 years, as doing so would burden the loan applicant unnecessarily.

Governor Tan Sri Zeti Akhtar was speaking in response to Congress of Unions of Employees in the Public and Civil Services (Cuepacs) and the National Cooperative Organisation of Malaysia’s appeal to the Government to consider reviewing Bank Negara’s ten-year repayment period to 15 years.