Yes!!! There was a circular was issued 4-months ago. QCB is allowing banks to charge a maximum interest of 5% per annum and it is a retroactive implementation where the loan shall be re-calculated front and back.

Was planning to pay my remaining loan and I learned to know that their computation will be based on the original interest rate when loan was taken. In fact, loan agreement is based on floating rate.

This new interest rate are now being implemented by other banks, except HSBC>>>>>