Tan Sri Dato Dr Zeti Akhtar Aziz made a statement in a forum today that Bank Negara will maintains the maximum personal loan period to be at 10 years. Zeti has compared personal loans wordwide which have 10 years maximum repayment.
The 10 years maximum cap for personal loan in Malaysia will remains despite objections from some quarters.
Angkasa and Cuepacs have previously opined to maximum personal loan to be extended to 15 years to ease the burden of government servants. Datuk Omar Osman the president of Cuepacs has also suggested personal loan interest to be decreased for government servants.