Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".

    AEON Personal Loan

    AEON personal loan is an unsecured loan that serves as a helping hand when you find yourself in a need of instant funds. Whether you’re starting a new business and you need the financial push or you need some funds to borrow for the kids’ education, a personal loan is the perfect solution. From weddings to vacations, to travel expenses to medical emergencies, a personal loan comes in handy.

    AEON Bank is one of the banks that provide a hassle-free and quick loan disbursement. Let’s take a look at how the loan process works.

    You’re probably eligible for an AEON Personal Loan if you are

    AEON Personal Loan Personal Loan Minimum Age

    18 years and Above

     AEON Personal Loan Personal Loan Maximum Age

    Less than 60 years old

     AEON Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

      AEON Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your AEON Personal Loan amount eligibility is based on these factors

     AEON Personal Loan Minimum Salary

    Minimum income required
    RM 800

     AEON Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is RM 100,000

     AEON Personal Loan Installments

    Installments of other loans lower
    your eligibility

    Increase your eligible AEON Personal Loan amount by these steps

     AEON Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

      AEON Personal Loan Tenure

    Choose longer tenure loan up to 7 years

    Documentation needed to apply for AEON Personal Loan

    • 1.Copy of NRIC
    • 2.Copy of latest three (3) months pay slip
    • 3.Latest EPF statement
    • 4.Employment Confirmation Letter
    • 5.Other related documents

    AEON Personal Loan Interest RatesUpdated on 20 Jan 2018

    AEON Personal Loan Details
    Interest Rate 0.80%-0.84%
    Minimum Income RM 800
    Tenure 7 years
    Guarantor Requirement No Guarantee Required

    Benefits & Features of AEON Personal Loan

    The features and benefits associated with AEON Personal Loan are listed below:

    • The loan comes with a quick approval and hassle-free process.
    • You can get funds up to an amount of RM100,000 with AEON Personal Loan.
    • The loan comes with a repayment plan of up to an 84-month tenure.
    • The interest rates for the loan is as low as 0.8% per month.
    • The loan process doesn’t require a collateral, guarantor, or any kind of security deposit.
    • The AEON Bank Personal Loan is based on Shariah Concept of Bai Al-Inah.
    • The loan comes with monthly repayments as low as RM54.

    Interest Rates for AEON Personal Loan

    The following are the interest rates of AEON Personal Loan:

    Applicants Profit rate (Flat rate) Effective rate
    AEON Credit Cardholder/AEON Express Card Member 0.84% per month or 10.08% p.a. 16.77% to 18.11% p.a.
    New applicants 1.50% per month or 18% p.a. 27.46% to 31.72% p.a.

    AEON Personal Loan Fees and charges

    Let’s look at the fees and charges associated with AEON Personal Loan:

    Fee type Fee details
    Processing fee 4% of the financing amount when the amount is from RM1,000 to RM10,000. For amount more than RM10,000, processing fee is 2% of the amount. This fee is capped at RM400.
    Handling fee No charge
    Stamp Duty 0.5% of the loan amount
    Goods and Service Tax (GST) A GST of 6% will be charged that depends upon the financing processing fee.
    Early settlement fee No charge
    Late Payment charges This fee varies from RM18 to RM40 depending upon the repayment date. Another RM23 will be charged per month for delinquency.

    AEON Personal Loan Eligibility Criteria

    The eligibility criteria of AEON Personal Loan are listed below:

    • Only Malaysian citizens can apply for this loan.
    • The applicants must have a minimum net income of RM800 per month.
    • The loan amount ranges from RM1,000 to RM100,000.
    • The applicants must be at least 18 years old in order to get the loan approved.

    Documentation needed to apply for AEON Personal Loan

    The list of documents required in order to get the loan approved is given below:

    For Salaried Employees:

    • The original copy of identity card
    • Latest 3-6 months’ salary slip
    • Recent 3-6 months’ bank account statement
    • Latest EPF statement
    • The bank’s saving account passbook for verification
    • Latest BE form and tax payment receipt

    For Self-employed applicants:

    • The original copy of identity card
    • Latest BE/E form and tax payment receipt
    • The company’s business registration certificate (ROC and ROB)
    • The recently updated bank’s saving account passbook
    • The company’s principal current account statement for last 6 months

    How to apply for the AEON Personal Loan

    • Applying at the bank’s branch: You can directly walk into the nearest AEON Bank branch in order to get the loan approved. You need to fill the form with necessary details and submit the required documents.
    • Applying telephonically: You can also put in your request for a personal loan by calling the bank’s support number.
    • Applying AEON Personal Loan online: Another way of applying for the personal loan is to submit the application form online and upload the scanned copy of required documents along with it. This way you can save your time as well as your efforts.

    AEON Personal Loan FAQs

    Q. What is the due date for the monthly repayment?

    A. You need to complete the monthly payment by 2nd of every month in order to save yourself from late payment charges.

    Q. How long does the approval process take?

    A. The process generally takes a maximum of 3 working days.

    Q. Is there any security deposit I have to pay?

    A. No. There is no security deposit needed for this process.

    Q. Is it mandatory to provide a collateral?

    A. No. The AEON Personal Loan doesn’t require a collateral or guarantor.

    Q. Can I apply for a loan for an amount more than RM100,000?

    A. No. The maximum amount that can be approved is RM100,000.

    News About AEON Bank Personal Loan

    • Aeon Credit's Net Profit Rises for Q3 to RM70.55 million

      Aeon Credit Service has posted a rise of 52% in its Q3 net profit despite being fined an RM96.2 million tax bill by the Inland Revenue Board. Aeon had the fine imposed on 13 December 2017.

      The Net profit for Q3 rose to RM70.55 million as compared to the RM67.05 million it had posted a year ago. Aeon Credit also had a quarterly revenue increase of 11.4% and posted an earnings of RM312.85 million as compared to the RM280.5 million from the same period a year ago.

      Aeon credit also said that their financing receivables also witnessed an increase of nearly 13.2% and coming in at RM7.03 billion for 30 November 2017 as compared to the RM6.21 billion posted for the same time period a year ago.

      BBazaar Malaysia

      21st December 2017

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