HPAA Goodwill Discount

While the new Hire-Purchase (Amendment) Act 2026 officially transitions to the reducing balance method on 1 June 2026, Boost Bank has protective measures in place for our existing customers:

• The Goodwill Discount Advantage: If you sign your agreement now and decide to settle your loan early after 1 June 2026, we will apply a Goodwill Discount. This discount is specifically designed to adjust your settlement figure so that it is broadly comparable to the new reducing balance method.
• Identical Total Cost: If you plan to keep your motorbike for the full duration of the loan, the total interest you pay remains the same under both the old and new methods.
• Immediate Ownership: Waiting until 2026 may mean missing out on current promotions or facing changes in vehicle pricing and COE/road tax costs.