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.
18 years and Above
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Minimum income required
Maximum allowed personal loan is RM 100,000
Installments of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 7 years
|Minimum Income||RM 800|
|Guarantor Requirement||No Guarantee Required|
The features and benefits associated with AEON Personal Loan are listed below:
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.|
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.|
The eligibility criteria of AEON Personal Loan are listed below:
The list of documents required in order to get the loan approved is given below:
For Salaried Employees:
For Self-employed applicants:
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.
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.
21st December 2017