Can You Apply for Personal Loans Online in Malaysia?
There may be a time when a consumer needs to obtain a personal loan online in Malaysia. Personal loans can help with large purchases, bill payments, business ventures, emergencies and more. The online personal loan option adds convenience that many consumers love to have. Quite often, a person can apply for a personal loan online and receive a quick decision. Malaysians do have several options for obtaining loans online. One of the best options is the one offered by UOB. A person who needs a large personal loan may qualify for an online advance if he or she meets the following requirements.
To qualify for a UOB Loan, the applicant must be a salaried or self-employed individual who meets the income requirements. The bank will verify the applicant’s employment, and he or she will have to sign a contract to receive the funds. The loan is extremely generous, as it carries a low interest rate and can be up to RM100,000. The interest rate may be as low as .83 percent. Approved applicants can use the funds for any purposes, up to and including small business ventures.
A person who is applying for an online personal loan through UOB must at least 21 years of age. The oldest age an applicant can be is 55 years of age. The minimum and maximum age requirements are non-negotiable.
The company has fair stipulations on the amount of time a person has be employed to receive an advance. An applicant who has only been with a company for three months may apply for help. He or she will need to provide pay slips to support the claim of work tenure.
To qualify for this special personal loan, the applicant must earn at least RM24,000 p.a. if he or she is a regular employee. A self-employed person must earn at least RM36,000 p.a. to qualify. The minimum loan that this bank offers is RM5,000. The repayment terms are flexible and negotiable. The applicant can request a repayment term that is up to 60 months. Long-term personal loans are convenient because they place less of a strain on the consumer.
The lender will need certain documents before it will issue a cash advance. A salaried employee can provide the lender with a copy of his or her passport, three months’ worth of paystubs, and his or her most recent form B/BE. Self-employed individual must show the lender his or her passport, three months of bank statements, the most recent form B/BE, and a business registration certificate form that has been valid for at least two years.
Persons who qualify can visit the website and apply with UOB. The application is very simple, and the entire process is convenient and customer friendly. The bank will have an answer for a new applicant as quickly as possible. The experts are waiting to give consumers the cash they need for any purpose.