BNM Takes Action!

Bank Negara Malaysia announced three further measures to promote a sound and sustainable household sector on 5th July 2013. The measures are:

Maximum tenure of 10 years for financing extended for personal use;Maximum tenure of 35 years for financing granted for the purchase of residential and non-residential properties;Prohibition on the offering of pre-approved personal financing products.

These measures take effect immediately but will not affect applications made earlier.

I understan...