Tell me about IVC Personal Loan.
This high-margin personal loan is offered by Icon Venture Capital Sdn Bhd (Company No. 1246743-K), a licensed company under the Moneylenders Act 1951.
For borrowers who are having difficulty getting a loan from mainstream lenders, IVC Personal Loan can help loosen the tied end for you.
How much can I borrow from IVC Personal Loan?
The minimum amount you can borrow from IVC Personal Loan is RM5,000.
Subject to management approval, you may borrow up to a maximum of RM100,000, for personal consumption or any other needs.
An interest rate between 13 - 18% per annum (1.5% per month) will be charged to your loan amount, depending on whether the facility is a secured or unsecured loan, as well as the borrower's lending profile.
For a high-margin loan amount, you may need to pledge your property or land to support the application.
How can I get my hand on the approved loan?
IVC Personal Loan can be processed within five to seven working days, provided you have furnished the management with a complete document.
Once you have received a Letter of Offer from Icon Venture, you have the option to access your approved loan via your designated bank account or cheque.
How to repay my monthly instalment?
Icon Venture accepts payment made via Internet Banking from all licensed banks in Malaysia, or cash deposit machines or cheques.
You are required to make a full monthly payment 30 days after the full disbursement of your approved loan until the end of your loan tenure.
In case you are late on the payment, you will receive calls and SMS from Icon Venture to remind you of your arrears.
A late payment fee of 8% will be imposed on your facility after seven days of the grace period.
If defaulted, fortunately, you will not get pestered by the Debt Collection Agency. However, Icon Venture will issue a Letter of Demand to demand payment from you.
What are the fees and charges I should know?
First of all, there is no processing fee deducted from your approved loan.
But, a legal fee will be quoted on and applied to your loan agreement. You can settle the personal loan before the end of your tenure by paying a 6-month interest.
Who can apply for IVC Personal Loan and what are the requirements?
Any individuals aged 18 to 60 years old can apply for IVC Personal Loan.
All you need to prepare after applying via RinggitPlus is several documents such as:
- Application form
- Copy of your IC (both sides)
- Latest 3 months' salary slips/pay slips
- Latest 3 months' bank statements
- Latest EPF or Tax Declaration Form (BE Form)
- Utility bill: electricity, water, etc
- Address Confirmation (example below ):・Phone/Internet Bill ・Mail from Banks ・Tenancy Agreement