1.Existing loans and overdrafts will continue to be governed by the terms and conditions agreed between the parties. However early settlement charges, other charges, fees and commissions levied after 1st May, 2011 will be in accordance with the new structure.
2.New loans extended after 1st May, 2011 or rescheduled after that date will be subject to the new regulations.
3.In exceptional circumstances such as rescheduling due to retirement of the borrower or loss of his income for any other reason, a longer repayment period beyond 48 months could be permitted.