With effect from 1 October 2015, all moneylenders are permitted to impose only the following costs, charges and expenses for an unsecured Personal Loan:
A fee not exceeding 10% of the principal of the loan amount granted.
A fee not exceeding $60 per month for late repayment
Interest rate of no more than 4% per month
Late Interest of no more than 4% per month
Legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.