KUALA LUMPUR: Bank Negara Malaysia (BNM) has denied it had directed banks to reduce the repayment period for car loans to a maximum period of seven years while increasing the downpayment value to 20 per cent from 10 per cent.


A spokesperson said the public should not listen to such unverified rumours. "We have not given any directive to any banks. The current financing terms and conditions of a maximum financing period of not more than nine years under the Responsible Lending Guidelines remains unchanged."

Social media and blogs were rife with statements stating that banks had been issued a memo to cut the financing period and downpayment for new cars, effective September.

Read more: BNM: No loan memos http://www.btimes.com.my/Current_News/BTIM.../#ixzz2d8UnWcax


oh btw, i thought u r a girl? arent u driving Z4 couple years ago?

7 years loan is good. except for 20% DP.. 10% should be ok, but must be less than 7 years loan