(Last updated: 24 August 2026)
What is a Sun Gate Credit Long Term Loan?
It is an unsecured long-term personal loan facility offered by Sun Gate Credit Sdn. Bhd. (Registration No. 201701039415 (1253586-M)), a KPKT-licensed moneylender (WL6366/14/01-7/150528).
What can I do with this personal loan?
You can borrow from RM500 to RM50,000 and use the loan for personal purposes, such as emergency expenses, home renovations, medical costs, and similar expenses.
What is the interest rate and how is my instalment calculated?
Sun Gate Credit charges 18% per annum on a fixed, flat rate. This means that interest is calculated on the full principal for the whole loan period, not on the decreasing balance as you make payments.
Formula: I = (P + P×R×T)/M
Where:
P = Principal Loan Amount (RM 10,000.00)
R = Annual Flat Interest Rate (18% / 0.18)
T = Loan Tenure in YEARS (e.g., 2)
M = Total Repayment Period in Months (24)
A RM10,000 loan with a 24-month term generates RM3,600 in total interest. The total repayment sum is RM13,600, which works out to RM566.67 each month. This calculation does not include fees. Your actual monthly payment will vary slightly once stamp duty and other charges are added.
What are the fees or charges?
- Stamp Duty: In accordance with the Stamp Act 1949 (Revised 1989)
- Late Penalty Fee: 8% p.a. on the instalment in arrears
If you cancel the approved financing before disbursement, you're required to pay all costs, if any, incurred by Sun Gate Credit for the preparation and registration of security documents.
Can I settle my loan early?
Yes, but only after six months from your loan start date. Check these details directly with Sun Gate Credit before you plan to pay off your loan.
What happens if I'm late in my repayments?
A late penalty fee of 8% per annum will be applied until you settle the overdue instalment amount in full.
Who is eligible to apply for Sun Gate Credit Long Term Loan?
Any Malaysians aged from 21 years to 55 years with a minimum monthly salary of RM1,700 are eligible to apply.
A guarantor isn't required by default, though Sun Gate Credit reserves the right to ask for one depending on your individual credit assessment.
What documents should I prepare?
- Latest 3 months' payslips
- Latest 3 months' bank statements
- Latest 12 months' EPF statements
- 1 month's utility bill
- Your valid IC (front and back)
How do I contact Sun Gate Credit for details?
Gombak Branch
No. 36A, Jalan Jernai 3, Medan Idaman, Batu 5, Gombak, 53100 Kuala Lumpur
KPKT Licence No.: WL6366/14/01-7/150528
Office Tel: +603 4024 8688
WhatsApp: +6010 240 0028
Email: [email protected]
Sun Gate Credit Sdn. Bhd. (Registration No. 201701039415 (1253586-M))
