as always bank rakyat and bsn le ?
but bank islam and cimb also got special rate for government servant

After been rejected by 4 banks...Finally my personal loan approved, thanks to Ms.Karen (Hong Leong) Mach application via online... easy and fast loooooooooooooooooo..... huhuhuhu...

This is possibly the latest update - http://www.imoney.my/personal-loan

If I'm not mistaken (correct me if I am wrong) -

a) There is no such thing as "kinda easy to approve" these days. All banks and credit companies apply a set of guidelines to determine your credit worthiness before releasing a loan to you. These are determined by several factors which you can easily Google up.
b) Being unsecured by nature, a personal loan requires no guarantor. In other words, you cannot have a guarantor for a personal loan. Secured loans like house, car.. etc can.
c) Personal loans are "expensive" as oppose to car loans. Ex - 9% vs 3.5%

Solution
Just ask your sis to purchase the car!

1) Choose your car. Pay a deposit.
2) Bring a copy of her I/C. Driving license. Relevant income documents.
3) Wait 3 - 5 working days. Approval (Assuming your sis is creditworthy)
4) Get your car insurance cover note ready. Sign all documents.
5) Take car keys and drive home happy

Hope this helps!

P/S - 6) Start paying your sister back!

This post has been edited by PowerPlay77: Jul 16 2013, 01:29 PM

share your story then.

Just make car loan instead of personal loan. try to compare the interest rate between those two different loans. good luck.

Anyone work with hong leong here? Pls pm me.. Need help.. Thanks

great website to visit there, thanks alot! hmm, actually i dont mind paying high interest ( 4-10K ) as long I can get the money to buy my dream car and pretty sure I will pay them.
okay i'll ask my sis to do a survey, i just wanna know more about personal loan such interest, which bank i can get and so on. by the way thanks alot ya for the info, really appreciate it


I thought normal car loan can't approve for above 10 years car?

Last month was trying to get personal loan, so i tried at Ambank, Standard charted, Alliance, Hong Leong & AEON

- Ambank = Rejected (No reason)
- Standard Charted = Rejected (No reason)
- Alliance = Rejected (ccris below 1 year)
- Hong Leong = Rejected (No reason)

already give up after all rejected, than i was googling for personal loan, accidentally clicked Hong Leong Mach Personal loan Application, than after few days received call from Ms.Karen Personal loan dept, than i informed her that Hong Leong already rejected my PL so i dowan to waste my time again, she checked at system and inform me that previous application that i apply is not submitted by the Hong Leong PL officer (name classified), at 1st i didnt believe it, but she ask me give a try again, so i just send everything as listed to her but with new application called Mach application , within 5 days my application approved and 7th day i received my money. No signature at branch needed, no guarantee, no document submitted at hand or branch, no credit card, simply easy even loan amount small (10k), tout want to make a complaint on the Hong Leong PL officer (name classified) but its okay, maybe he valuate the chances of my loan to approve himself and sms me its rejected... lol ....all is well.....

Documents
- IC
- Pay Slips (3 months)
- EPF (complete set)
- Bank Statement (3 months)
- Utility Bill (water or electricity)

Application
- Make sure all information correct and get advise & Tips from PL officer before submit it.

Cool thing. That was fast, 5 days been approved.

If the previous sales staff didnt submit your application why does Karen can trace on system ?

Mach Hong Leong P.Loan 12% vs Normal Hong Leong P .Loan 9.x%

Btw congratz on your p.loan approval

Do u know that car loan interest rate is much more lower compare to normal personal loan interest rate?

yeah I know that, but i heard car loan interest only can do below than 10 years? is it true?

Yup, maximum 10 years. Not worth apply for personal loan and get a 10years car, why dont jz get a new car and go for maximum tenure. Saga Sv jz 30k++ , interest rate about 3% ?

Lets say : u took 5 years for p.loan, 7% p.a.

7% x 5 year = 35%

Car loan p.a 3%
3% x 9 year = 27%

Hi,

I would like to enquire a few things. I have a few credit cards with max limit already. Total credit limit is about 110k. So i had my credit card restructured into some sort of a EPP term loan so that my commitment and repayment wont be that high. The problem is I want to apply for a PL (50k) to knock off some debts and another PL that i have. When I try applying the PL from banks, every time sure will get rejected. So i asked the bank why and they say because i have previously apply for past few loan and the application got rejected so thats why they also reject.

Is there such thing?

oh. u wanted to loan above 10 years. if so, usually car loan maximum is 9 years. then, go for personal loan that you can get 20 years max.

Mostly because of your available credit limit already fully utilize, the bank will consider as high risk customer and reject your application.

This post has been edited by Ken_HP: Jul 17 2013, 09:34 PM

Hi guys. I'm getting married next month and I'm quite worried about my expenditure for the marriage. Right now I have just about enough money for the marriage but I think I need few K as back up, just in case. I'm planning to make P.L of 6k.

I'm curious, lets say I only use half of the 6k after my marriage. Is it possible if I want to return the other half to the bank right away? or do I have to pay in fixed amount every month?

Another case is, let's say after 2-3 months I got more money and I want to pay more than the fixed monthly amount. Is it possible to do so? Thank you.

Even if you pay more in that particular month, the fixed monthly amount is deducted for that month. Extras will be brought forward. Interest will still be factored in as the instalment amount is included interest already. Personal loan is based on flat rate basis. Not reducing balance. Pay extra will not reduce the interest. Unless you want to settle it, depends on the bank's policy, normally you need to give 3 months notice in advance to ask for a full redemption amount otherwise 3 months interest will be charged.

yes its true but very hard to get personal loan for me, so when compared to credit center and other credit facilities its better to go for mach.. kinda easy...
she said there is no document submited under my IC number, if there is any document submitted their system will show status reject.

I need help to apply personal loan to consolidate credit card as i have tried applying on my own but was declined. I'm hoping there are consultants who can help me get a personal loan with betters results so that i can get rid of my credit cards and pay to one instalment only. Pls pm me. Thanks.

This post has been edited by sedjet: Jul 18 2013, 08:36 PM