Lending rules compared, market by market

NBC Prakas on Interest Rate Ceiling on Loan (13 Mar 2017): max 18% p.a. nominal interest, any maturity, for MDIs, MFIs and rural credit institutions; new, restructured and refinanced loans from 1 Apr 2017. Fees not included. Commercial banks not covered.

All-in effective-rate caps (interest, fees, penalties) set by the BOT: unsecured personal loans 25% p.a., vehicle-title loans 24%, digital personal loans same as unsecured; nano finance 33% (MoF ceiling 36%). Personal-loan cap within MoF ceiling of 28%.

Regulated maximum MFI interest rate: 28% p.a. (2.3% per month). Under the Microfinance Business Law 2011 (s. 7(g)) the Supervisory Committee sets MFI loan interest rates and service fees in line with Central Bank of Myanmar procedures.

P2P lending (LPBBTI), SEOJK 19/2025 from 31 Jul 2025: consumer cost incl. fees ≤0.3%/day (tenor ≤6 months) or ≤0.2%/day (>6 months); productive ≤0.275%/day or 0.1%/day. Late penalties same caps; total ≤100% of principal.

Moneylenders Act 1951: interest ≤12%/year (secured) and ≤18%/year (unsecured); total interest may not exceed principal without court order; late interest 8%/year. Consumer Credit Act 2025 sets no numeric cap: charges must be fair, not excessive.

Licensed moneylenders: interest max 4%/month and late interest max 4%/month (secured or unsecured, any income); upfront fee ≤10% of principal, late fee ≤S$60/month; total charges ≤ principal. Caps since 1 Oct 2015.

Moneylenders Act (Cap. 62) s.5: interest max 15% p.a. if secured and 24% p.a. on a note of hand only; rates may be varied by public notification (s.7). Breach: fine BND 2,500 and 6 months' imprisonment.

Money Lenders Ordinance: interest above 48% p.a. is prohibited; an effective rate above 36% p.a. is presumed extortionate and the court may reopen the loan. Applies to agreements made from 30 Dec 2022.

Unsecured personal loans: credit limit up to 1.5x monthly income and max 3 lenders if income < THB 30,000; up to 5x if ≥ THB 30,000. BOT Responsible Lending rules (No. 3/2568) require checking residual income after all debt payments.

Circular 39/2016: financial capacity to repay is a loan condition; the lender appraises it and may use its internal credit rating together with data from the National Credit Information Centre (CIC). No numeric DSR cap is set.

RA 11765 (2022) sets no numeric DSR cap. It provides that financial service providers should have written procedures to assess whether a product suits the client and is affordable, including measures to prevent over-indebtedness.

SEOJK 19/2025: consumer P2P repayments of principal and economic benefit ≤40% of income in 2025 and ≤30% from 2026; max 3 platforms per borrower; from 1 Jan 2026 borrowers must be 18+ (or married) with income ≥IDR 3 million/month.

SKP Conduct Standards (5 Jun 2026), Consumer Credit Act 2025 providers: affordability check before credit or a limit increase, with prudent DSR and minimum net disposable income thresholds; no fixed DSR number. BNPL: check required above a RM1,000 limit.

Unsecured loans from all licensed moneylenders combined: citizens/PRs S$3,000 (income <S$20,000); foreigners S$500 (<S$10,000) or S$3,000 (S$10,000–<20,000); 6× monthly income from S$20,000. Lenders should take income into account (Directions 1/2026).

TDSR ≤60% of net monthly income for natural persons earning BND 1,750 to under 10,000, at banks, Islamic banks and finance companies (notices eff. 9 Nov 2017). Banks may go to 70% for loans secured on financed property. Other bands: lender policy.

From 1 Aug 2026, money lenders may not grant unsecured personal loans to borrowers earning ≤HK$12,000/month if DSR exceeds 35% (≤HK$6,000) or 40% (HK$6,001–12,000), counting all unsecured personal-loan repayments incl. the new loan.

Lending is a banking operation needing an NBC licence (Law on Banking and Financial Institutions, 18 Nov 1999). Non-banks: NBC-licensed MDIs and MFIs, or rural credit institutions certified by NBC (Prakas on Granting Certificate of RCI, 23 Dec 2019).

Non-bank unsecured lending needs a 'personal loan under supervision' licence (Revolutionary Council Announcement No. 58; MoF Notification 30 Jul 2020), BOT-supervised; digital personal loan sub-type: up to THB 20,000, ≤6 months. Nano finance is separate.

Law on Credit Institutions 32/2024 in force 1 Jul 2024; finance companies' consumer lending is governed by separate SBV rules. P2P lending only within the SBV sandbox (Decree 94/2025, from 1 Jul 2025; testing up to 2 years, in Viet Nam only, no cross-border).

Finance or banking business needs BOL permission (Law on the Bank of the Lao PDR No. 47/NA, 2018). Non-deposit-taking microfinance institutions are licensed by BOL's Financial Institution Supervision Department (Decree No. 460/G, 2012).

Microfinance business requires a licence under the Microfinance Business Law 2011; the Supervisory Committee decides within 30 days. Unlicensed operation: fine and/or up to 5 years' prison. Licences are issued by the Financial Regulatory Department (FRD).

Lending companies need an SEC Certificate of Authority under the Lending Company Regulation Act 2007 (RA 9474), with minimum paid-up capital of PHP 1,000,000 unless the SEC sets a higher amount.

P2P lending (LPBBTI) needs an OJK business licence under POJK 40/2024 (from 27 Dec 2024): PT or cooperative, equity ≥IDR 12.5 billion at all times, funding only to recipients in Indonesia, consumer funding ≤IDR 2 billion per recipient.

Moneylenders: KPKT licence under the Moneylenders Act 1951; online lending is a permission added to it. Consumer Credit Act 2025: BNPL, leasing, factoring need an SKP licence, debt collectors register; existing firms apply by 30 Nov 2026. BNPL equity ≥RM2m.

Moneylender's licence under the Moneylenders Act 2008 from the Registrar of Moneylenders (Ministry of Law), valid 12 months. Grant of new licences and new applications are currently suspended.

Moneylending requires a BDCB licence under the Moneylenders Act (Cap. 62), granted annually (fee BND 500), with BDCB-set minimum paid-up capital, a place of business in Brunei and a banker's guarantee as security deposit.

Holding deposits or client guarantee funds above USD 500,000 requires an ODTI licence (PI 06/2010, incl. MFIs). Law 10/2026: Central Bank alone licenses and supervises financial institutions; MFIs, finance companies, pawnshops are non-banks.

Money lender's licence under the Money Lenders Ordinance (Cap. 163), granted by the Licensing Court; Registrar of Money Lenders (Companies Registry) processes applications; Police enforce. Conditions cover disclosure, fees, collection, AML/CFT, affordability.