Jason, a twenty something executive took a personal loan of RM10,000 at a flat interest rate of 8.5% p.a. for 36 months to renovate his newly bought apartment. He is happy with his decision, at 0.71% per month, 8.5% p.a. is the lowest he can find as compare to the others at 12% p.a.
But did [...]
Approval Criteria
Good on-time payment history (not necessary payment in full)
Credit card in good standing – not barred
Balance Transfer Limit
Average minimum is RM2,000
Maximum is 90% of the card limit
Fees
Processing fee (fixed – RM50 to RM) or Handling fee (2-8% of amount transfer)
Late payment fee (1% or RM10.00)
Financial charges (1.5%/mth of the due amount)
Early settlement penalty [...]
Approval criteria
Minimum gross annual income: RM18,000
Age between 21 to 55
If any existing loan/debt such as credit card debt is not settle, application is likely to be rejected (debt consolidation will usually be rejected)
Owned a credit card that has a good credit history will help approval, same goes if you work for government (Public bank’s [...]