What is GoodKredit Malaysia Microloan about?
GoodKredit Malaysia Microloan is provided by Fortune Tree Capital Sdn Bhd (1202833-M), a cashless payment and microloan app service provider.
This fixed rate short term personal loan is for anyone who needs extra funds for personal use. GoodKredit offers a range of short term repayment periods between 6 months to 12 months, and a flat interest rate of 18% p.a.
How much can I borrow from this personal loan?
Since this is a microloan, you can borrow from a minimum of RM1,000 to a maximum of RM10,000, depending on individual credit assessment. Once your application has been approved by GoodKredit, you will receive a letter of agreement with the final loan amount, tenure and interest rate.
What is the personal loan interest rate?
The interest rate charged to this short term personal loan is 18% p.a., flat and fixed throughout the tenure. In this case, your monthly instalment amount cannot be changed and, any prepayment or overpayment will not result in a reduction of principal loan or savings in interest.
Do I need a guarantor or collateral?
You don't need a guarantor or collateral when applying for GoodKredit Malaysia Microloan because it is an unsecured short term personal loan. However, it is also subject to GoodKredit's assessment on your credit profile.
What are the fees and charges do I have to pay?
First of all, there is a one-time Stamp Duty fee ranging from RM5 to RM50, chargeable on the approved loan amount before disbursement. You are also required to pay a one-time Commissioner of Oath's Fee of RM15.
When you are late in paying your monthly instalment, your overdue outstanding amount will incur a late payment charge of 8% p.a. on top of an administrative charge of RM50, every month until you pay it off.
Bear in mind that legal action will be taken against you if you fail to meet the obligations.
Can I settle my personal loan earlier?
Yes you may do that. You will also get back a pro-rated rebate on the interest charged to your loan upfront.
Who can apply for this personal loan?
Open to Malaysians only, aged between 18 years to 60 years, with a minimum income of RM1,500 every month. All you need to prepare is:
- Copy of NRIC (front and back)
- Latest 3-months salary slips
- Latest EPF statement
- Latest bank statement
- Latest copy of utility bill
And any additional documents which may be requested by GoodKredit.