CBMPC Revises Policy on Loan Secured by Share Capital

In line with the continuous enhancement of its credit facilities to address the changing needs of its members, the CBMPC Board approved the following policy revisions on its loans granted against share capital or better known as Regular Loan I (for Regular Members):

Loanable Amount

From
Up to six times (6x) of share capital subject to capacity to pay (pension and other income) but not to exceed the 15% Single Borrower’s Limit (SBL)

To
100% of share capital

Interest Rate

From

12% p.a. on the amount equivalent to member’s share capital;

14% p.a. on the amount in excess of the member’s share capital (interest computed on diminishing loan balance)

To

8% p.a. on the amount equivalent to member’s share capital;

12% p.a. on the amount in excess of the member’s share capital (interest computed based on diminishing loan balance)