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Introduction to Personal Loans Personal loans are one of the most popular financial tools in Malaysia, providing individuals with the opportunity to borrow money for various purposes such as debt consolidation, emergencies, or major purchases. Before applying for a personal loan, it’s essential to understand the various factors involved in the process, including interest rates, […]
Prime Minister Datuk Seri Anwar Ibrahim speaks during the World Water Day 2023 celebrations at Stadium Indera Mulia in Ipoh March 11, 2023. ― Picture by Farhan Najib The Malaysian government has taken a step to assist its citizens who are struggling financially due to the ongoing COVID-19 pandemic. The government has approved the use […]
What is meant by a Personal Loan? A personal loan is a line of credit or financing amount extended by a bank, credit union, or other lending institutions to a borrower as a lump sum or principal loan amount. The secured loan is payable in monthly installments or a fixed monthly repayable amount, which includes […]
There are often a lot of questions when it comes to personal loans. In this article, we will cover a few facts that people are curious about for your reference. 1. How much you can borrow depends on the bank. The quantity of money you can borrow from a bank for personal financing is determined by […]
Nowadays, although most people have some small savings in the bank, there are still moments when they need to borrow money from the bank for emergency liquidity. If you need money for some reason, the quickest way is to get a personal loan from a nearby bank. Before you get it, there are some terms […]
Having many accounts in different banks can provide better interest rates as well as other benefits. Here are some reasons why it is beneficial to have more than one bank account: 1. Savings are more secured. Do not deposit all of your earnings into one account. Besides, do not use the same account that you use to […]
Banking is almost inevitable these days, no matter it is using credit cards or e-payment. In terms of choosing a bank, there are a few aspects that you need to think about. Location of the Bank Despite more and more businesses moving online, banks in Malaysia still require you to submit your papers in person. […]
Conventional banking generates profits by charging loans interest and investing in other assets. Islamic banking employs Islamic principles and Syariah regulations in the creation of banking products. It charges profit rates rather than interest rates. There are a variety of banking products, either conventional or islamic. The following are some suggestions that may assist you in […]
When you apply for a loan, you might wonder: “How much can I borrow from the bank?”. According to you repayment capabillity, you can estimate the amount of your loan. The Debt Service Ratio(DSR), is a formula to help banks determine if you can repay the amount that you borrow. What is the Debt Service […]
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