AEON Credit service is a popular credit channel in Malaysia. The company serves a host of customers through their personal banking and insurance products. Personal finance schemes by AEON are quite popular among customers.
AEON credit service is a popular Malaysian credit provider. The company was registered in the year 1996 and since then has expanded into various financial domains like credit, loans and insurance. AEON credit is a subsidiary of AEON Japan and is mainly involved in offering credit card and personal finance products to customers.
You’re probably eligible for an AEON Personal Loan if you are
18 years and Above
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your AEON Personal Loan amount eligibility is based on these factors
Minimum income required
Maximum allowed personal loan is RM 100,000
Installments of other loans lower
Increase your eligible AEON Personal Loan amount by these steps
Pay off your credit card bills
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 30 Mar 2017
|Interest Rate||16.05 % - 17.27 %|
|Minimum Income||RM 800|
|Guarantor Requirement||No Guarantee Required|
Why choose AEON Personal Loans
AEON personal loans are offered in a number of variants to address the specific financial needs of various customers. These loans are totally unsecured loans and thus do not involve the hassle of collateral and security. Currently, AEON has 5 regional branches and over 51 branched located in major shopping areas of Malaysia. The company has a network of over 9000 merchant outlets who are partners in providing consumer financing products and services. The company is one of the largest credit card providers in Japan with millions of registered customers.
AEON Personal Loan Eligibility Criteria
You must meet the following criteria to avail AEON personal loan:
- Must be a Malaysian citizen.
- The minimum age requirement is 18 years.
- The minimum net income required is RM800.
- The minimum loan amount offered is RM1,000 and the maximum loan amount offered is RM100,000.
Fees and Charges of AEON Personal Loan
You will be charged the following fees and charges:
|Processing fee||4% for financing amount between RM1,000 to RM10,000. 2% for financing amount between RM10,1000 to RM100,000.|
|GST||6% GST will be imposed on the processing fee.|
|Stamp duty charge||0.5% of the loan amount|
|Late payment fee||4% of the outstanding loan amount.|
Documents Required for AEON Personal Loan
You must submit the following documents along with your application form:
Types of AEON Personal Loans
Listed below are the three main types of personal loan schemes offered by AEON to customers in Malaysia.
AEON iCash for AEON Credit Card holders
- As the name itself suggests, iCAsh for AEON Credit Card holders is a personal loan scheme aimed to provide credit to customers who already possess an AEON credit card.
- This scheme offers fast loan approval since the customers are registered customers of AEON.
- iCash personal loan is an Islamic unsecured loan product
- Customers can avail loan amounts of up to RM50,000 via this loan scheme
- The maximum loan tenure offered is 5 years
- The profit rates for this personal finance are attractive at 14.4% p.a. for loan amounts between RM1000 – RM4999. For loan amounts greater than RM5,000 the profit rate is 9.6% p.a
- The minimum monthly income required to avail this loan is RM12,000.
- The applicant for this iCash personal loan should be above 18 years of age and should be a credit card member
- Nationality of the applicant does not matter
- A stamp duty charge of 0.5% of the loan amount availed is charged by AEON
- The best part about this loan scheme is that it does not levy any pre-payment charges and as such customers can freely choose to pay off their loan even before the stipulated loan tenure
- A late payment fee of 4% of the outstanding loan amount is levied in case loan repayment is delayed
- The processing fee on this loan is nil unless the loan amount sought is less than RM5,000 in which case the it is 6% of the loan amount.
AEON iCash for AEON Express Card Members
- This is a separate personal loan scheme for customers who own an AEON express credit card. These customers can apply for the iCAsh AEON express personal loan which is a fast way of availing cash for personal needs
- Loan amounts of up to RM50,000 can be availed by taking this personal finance
- The applicant needs to be above 18 years of age to apply for this personal loan
- The loan tenure offered is a maximum of 5 years
- The profit rates offered are competitive and are dependent on the loan amount availed. Loan amounts of less than RM5,000 charge a profit rate of 14.4% p.a. while those above RM5,000 offer a rate of 10.08% p.a.
- This personal loan scheme also is an unsecured Islamic banking product and is based on the Sharia concept of banking
- The processing fee on this loan is nil unless the loan amount being availed is less than RM5,000
- Basic documents like ID proof and salary proof are required to be submitted to the bank.
AEON iCash for Non-Card Members
- AEON iCash for non-card members is the personal loan scheme that is open to all loan customers
- This is a simple, unsecured Islamic loan product that offers express access to cash for all your personal financial needs
- The loan amount offered is a maximum of RM50,000 and the loan tenure is a maximum of 5 years
- Since it is an unsecured loan, no security needs to be submitted
- Early termination fee is nil and as such customers can choose to repay their loan earlier than the stipulated loan tenure
- Individuals who are above 18 years of age and who ear a minimum monthly income of RM12,000 can apply for this loan product.
- The profit rates offered are attractive and are linked to the amount of loan availed. Loan amounts between RM1000-RM4999 are offered at 18% p.a. while those between RM5,000-RM50,000 are offered at 10.08% p.a.
- Late payment charges are 4% of the outstanding loan amount.
- A number of payment channels can be used to pay off the loan. These include cheque transfer, auto-debit, online transfer etc.
How to Calculate Loan Installment for AEON Personal Loan
Using the personal loan installment calculator hosted at bbazaar.my is easy and quick; you need to feed in some important parameters like loan amount and tenure and then finally click the ‘calculate’ button to know the corresponding installment for your personal loan. It is always good to have some basic first-level information about your personal loan before you start the process of applying for one. This online tool provides you with the basic information that will help you in planning your personal loan and other related aspects associated with it.
AEON Personal Loan FAQs
What is the minimum personal loan amount that can be availed from AEON?
The minimum personal loan amount that can be availed by customers is RM 1000.
What is maximum loan tenure available to customers?
The maximum loan tenure that can be chosen by AEON personal loan customers is 84 months.
Do I need to pay stamp duty while availing personal loan from AEON?
Yes. Stamp duty charges as applicable will be deducted from your personal loan amount at the time of disbursal to your loan account.
Do I need a guarantor to sign my personal loan application with AEON?
No. AEON personal loans do not require a guarantor to sign your loan application.
What are the main documents required in order to avail AEON personal finance?
The documentation required is minimum and as such a copy of salary slip and MyKad are enough to glide your through the application process.
Do I need to pay a processing fee while availing personal loan from AEON?
Yes. Processing fee is dependent upon the loan amount availed. For amounts between RM1,000 - RM10,000 processing fee is 4% of the loan amount, for those between RM 10,000 and RM 1,00,000, 2% is the applicable processing fee.
Other Products offered by AEON:
Apart from offering Personal Loan, AEON offers other products and services which includes: