Online Loan Directly Credited into Account

An online loan paid directly into your bank account is a loan that is transferred to your bank account after your application has been approved and all required steps have been completed. Submitting an application does not guarantee approval or immediate receipt of funds. Before applying, check the amount you will receive, the total cost, and whether you can afford to repay the loan on time.

Loan Amount and Term

The approved amount may differ from the amount requested. The final offer depends on the assessment and the terms of the loan agreement.

Understand the Costs Before Signing the Agreement

The repayment amount includes service charges. Check the total repayment amount, service charges, fees, payment due date, and late-payment charges before signing the agreement. Ask for a breakdown of the costs and an explanation of how these charges are reflected in the published APR. All charges must comply with applicable laws.

Also check the net amount that will be credited to your account. Deductions for charges may mean that the amount you receive is lower than the approved loan amount. Compare the amount received with the total amount you will be required to repay.

Example Calculation for a RM1,000 Loan

For illustration purposes only, assume a RM1,000 loan for 30 days using simple interest at an annual rate of 18% and a 365-day basis:

• Interest: RM1,000 × 0.18 × 30 ÷ 365 = RM14.79.
• Principal plus interest in this example: RM1,014.79.

RM1,014.79 is not a confirmed final repayment amount or an APR calculation that includes all costs. This example does not include service charges or other permitted fees because their amounts have not been specified. The actual calculation, deductions, and total amount payable must be stated in the agreement.

Applicant Requirements and Required Documents

Applicants must be Malaysian citizens aged at least 21, have a stable source of income, and hold a valid MyKad or identity card (IC).

Prepare your IC and bank account details for an account held in your own name. During verification, you may be asked to provide payslips, bank statements, proof of residential address, phone number verification, or additional information.

Meeting the basic requirements does not guarantee approval.

How to Apply for an Online Loan

1. Complete the application form with accurate information.
2. Submit the required identification documents and supporting information.
3. Wait for your eligibility, income, and identity to be reviewed. Provide any additional information requested.
4. If approved, review the offered amount and the entire agreement before signing it.
5. Once all required steps have been completed, the approved funds will be transferred to your bank account.

How Long Does It Take for the Loan to Reach Your Bank Account?

The time it takes to receive the funds depends on verification, the time of application, and bank processing. An approval notice does not necessarily mean that the money has already been credited to your account.

Incomplete documents or mismatched bank account information may delay the process. Contact customer service for clarification. Avoid relying on an unconfirmed transfer time when making important payments.

When Is This Loan Suitable?

A short-term loan may be suitable for occasional essential expenses, such as urgent vehicle repairs, when you have predictable income that will be received before the repayment due date.

Avoid borrowing for non-essential purchases, speculative investments, recurring monthly budget shortfalls, or to repay other debts without a sustainable plan. A maximum term of 30 days gives you only a short period in which to prepare for repayment.

To borrow responsibly, subtract essential expenses and existing debt obligations from the income you expect to receive before the due date. Reconsider borrowing if the remaining amount is not enough to repay the loan and cover unexpected expenses.

Before applying, consider requesting an extension on bill payments, asking your employer for a salary advance, seeking help from family, or using a regulated credit option with a lower overall cost. If your debt problems persist, seek financial counselling from AKPK.

Late Payments and Early Settlement

Late payments may result in additional charges and may affect your eligibility for future loans. Contact customer service before the due date if you expect to have difficulty making payment. Changes to the loan terms are not guaranteed.

You may settle the loan early. Request the settlement amount in advance. Any special offer is subject to the company's terms and is not guaranteed.

Amanahkredit Information and Licensing

Amanahkredit is operated by CONSTANCE INFINITY SDN. BHD., registration number 201901035854 (1345184-H). The licensing details published by the company are as follows:

• Regulator: KPKT.
• Licence number: WL3468/01/01-11/270127.
• Licence validity period: 28/01/2025–27/01/2027.
• Advertising permit: WP3468/01/01-1/270127, valid until 27/01/2027.

Office address: 13-01, BINJAI 8, PREMIUM SOHO, NO. 2, LORONG BINJAI, 50450 WILAYAH PERSEKUTUAN KUALA LUMPUR.

Customer service: [email protected] | +601126141438.

Check the current licence status through KPKT i-KrediKom. Licensed moneylenders are subject to regulations governing loan agreements and borrowers' rights, as well as official complaint channels. A licence does not guarantee that a particular loan is suitable for your financial circumstances. Learn about borrowers' rights through KPKT.

Keep copies of the agreement and payment receipts. Never share your online banking password, PIN, or banking OTP with anyone.

If you are considering an online loan paid directly into your bank account, check the costs and eligibility requirements first. Proceed with Amanahkredit only if the confirmed offer fits within your budget.