BigPay Teases Introduction Of New Digital Personal Loan Product Next Week
Author Avatar

BigPay has teased the arrival of a new digital personal loan product, which is slated to be introduced next week.

Based on a teaser image shared, the new product is said to be the first fully digital personal loan in Malaysia, offering near instant approvals in as fast as five minutes. No documents are required during the application process, and the app will also provide monthly reminders to prompt borrowers to make their repayments on time – presumably within the app.

Aside from these info, not much else were shared, but further details are expected to be revealed soon as BigPay will be offering a closer look into their new product in the upcoming week.

BigPay’s move into the money lending business was made possible after being awarded a provisional licence for lending from the Ministry of Housing and Local Government (KPKT) back in November 2020. With this licence, BigPay is allowed to provide online loans with a low interest rate. Back then, the chief executive officer of BigPay’s parent company Capital A, Tony Fernandes had said that although these loans will be available to the masses, they will benefit the B40 group in particular.

BigPay is also one of the contenders for the five digital banking licences offered Bank Negara Malaysia (BNM). Additionally, it has secured financing to fuel its ambition to eventually become a challenger bank across Southeast Asia.

(Source: SoyaCincau)

0 0 votes
Article Rating


Comments (0)

Notify of

Inline Feedbacks
View all comments
Top Apps Articles
Post Image
Astro 4K Ultra HD Broadcast To Be Available For Subscription By The End of This Year
Brian Chung
- 14th August 2018
By the end of 2018, Astro customers will be able to watch football matches in Ultra HD. Read on to know more about the 4k Ultra HD service.
Post Image
Shopee Introduces SPayLater, Lets Users Buy Items Now And Pay Later
Alex Cheong Pui Yin
- 18th January 2021
Shopee has introduced a new payment feature that lets its Malaysian users purchase items and pay for them […]
Post Image
How To Pay TNB Bills With Boost, GrabPay, And Touch ‘n Go eWallet
Pang Tun Yau
- 13th February 2020
In recent months, e-wallets (and even Shopee and Lazada) began offering bill payment options, which means Malaysians can […]
Post Image
TNG eWallet Users Can Now Transfer Money To Bank Accounts Via DuitNow Transfer
Alex Cheong Pui Yin
- 25th March 2022
Touch ‘n Go (TNG) eWallet has updated its DuitNow Transfer function, enabling users to also transfer funds out […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image