Frequently Asked Questions
Here are some common questions our clients ask about our services
What is the interest rate for an express loan?
The interest rate is 10% per month calculated using a declining method plus fees and charges of 3% paid once.
How quickly can I get my loan?
Once your application file is complete, the loan will be automatically approved and transferred to the borrower's account after signing contract.
What is the maximum amount I can borrow?
The loan amount is determined based on your repayment capacity and the value of the collateral you provide, which will serve as security in case of non-payment.
What documents are required to apply for a loan?
The borrower will provide the following minim documents.
- Copy of National ID
- Collateral valuation report valued at twice the amount of the loan (depending on loan amount)
- Borrower's 3 months bank statement
- Guarantor's consent (mainly spouse)
Can I get unsecured loans?
Yes. But the loan amount will not exceed a certain amount depending on your repayment capacity.
What happens if I delay paying my loan on time?
If the borrower delays paying the loan on time, he/she will be given a grace period of 3 days and after, late repayment penalty will apply and if consistent, the borrower will be reported to CRB.