AEON Bank, Malaysia’s first Islamic digital bank, has introduced a new Shariah-compliant personal financing product, Personal Financing-i.
The facility allows customers to access financing from RM1,000 to RM10,000, or up to their credit limit, whichever is lower, subject to AEON Bank’s credit evaluation.
Repayment periods range from three to 24 months, with a flat profit rate of 6.88% per annum.
Upon approval, applicants must tap ‘Accept’ in the AEON Bank app within seven calendar days to proceed with the financing.
Once accepted, funds will be disbursed directly to the applicant’s AEON Bank Savings Account-i within minutes, with a RM1 Wakalah fee deducted from the approved amount.
Malaysian citizens aged 18 to 55 years with a minimum gross monthly income of RM3,000 are eligible, including gig workers and commission-based earners.
Applications can be submitted through the AEON Bank app by selecting Personal Financing-i, filling in details, uploading required documents, and submitting the application. Approvals are notified via push notifications.
Applicants must provide supporting documents, such as EPF statements for salaried employees (retrieved via the EPF/KWSP website or app) or six months’ bank statements for self-employed individuals and commission earners.
Featured image credit: Edited from Freepik
