Need some cash in an emergency? From now until the 31st of March 2017, you can pick up an AmBank QuickCash loan with no hassle.
How does it work?
Well first you need to be an AmBank principal cardholder for any one of their credit cards. The cash loan will be credited directly from your credit card, so you can keep tract of the repayments via your monthly credit card statement.
With the AmBank QuickCash you can borrow a minimum of RM1,000 up to the maximum amount of your available credit limit. It works similarly to any other loan, you need to pay back the amount that you borrowed, and just like a credit card, there is an applied interest rate to the repayments.
How bad are the rates?
Not at all. For the QuickCash, you can choose your repayment tenures from 12 months, 24 months and 36 months respectively. Each tenure comes with a different interest rate.
Don’t worry they’re not exponential, the interest rates range from 1.99% to 5.88% p.a. See pretty good rates. Just remember to pay your installments on time and in full. Paying only the minimum amount or being late on payments will incur the regular interest rate of 18%p.a.
Where do I apply?
You have a couple options on this front. You can choose to make a phone application, either by calling AmBank’s toll free number or their direct line.
The option for an online application is also available. Simply download the form from their site and email it to them with the necessary details.
There you have it, rainy day be gone. Instant cash for when you’re in a pinch.