• Personal Loan BYTES FROM OUR KITCHEN

    AEON Personal Loan

    The 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.

    Features

    Interest Rate (p.m.) Starting from 0.8% p.m.
    Loan Tenure Upto 21 years
    Approval Duration Max. 3 Working Days
    Min. monthly income RM8,00
    Min. Loan Amount RM1,000
    Islamic/Conventional Islamic

    Interest Rates

    The following are the interest rates of AEON Personal Loan:

    Financing amount % per month for AEON Credit Card principal cardholders % per month for AEON Express cardholders % per month for new borrowers or non AEON cardholders
    Between RM1,000 to RM10,000 1.20% p.m. 1.20% p.m. 1.50% p.m.
    Between RM10,001 to RM100,000 0.80% p.m. 0.84% p.m. 0.84% p.m.

    Effective profit rates

    Nature of Applicant Effective Profit rate
    AEON Credit Card Principal Cardholders 16.07% p.a. to 18.11% p.a.
    AEON Express Cardholders 22.77% p.a. to 25.60% p.a.
    Non AEON Credit Cardholders 16.77% p.a. to 18.11% p.a.
    New Customers 27.46% p.a. to 31.72% p.a.

    Benefits

    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.

    Fees and charges

    Let’s look at the fees and charges associated with this 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.

    Eligibility Criteria

    • 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.

    What documents do I need to prepare for this Loan Application?

    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?

    • 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 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.

    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.

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