Terms & conditions

By accessing and using https://amanahkredit.my/ and its subdomains (referred to as the "Website"), you acknowledge that you have read, understood, and agree to be bound by all the Terms & Conditions outlined below, whether or not you are a registered member of the Website.

I. LOAN AMOUNT

The Lender has agreed to provide the Borrower with the amount specified in the Schedule J Money Lending Agreement, in Malaysian Ringgit (the “Loan” or “Personal Loan”).

II. PURPOSE

The Borrower agrees to utilize the Loan exclusively for lawful purposes, ensuring that it is not used in any activity that violates Malaysian laws, rules, and regulations.

III. LOAN TERM

The Loan shall be granted for a period not exceeding the time specified in the Schedule J Money Lending Agreement (the “Agreement”). The Loan Term will begin on the date the Borrower receives the Loan, or any portion thereof.

IV. DUE DATE

The Loan Term will expire on the date specified in the Schedule J Money Lending Agreement (the “Due Date”). If the Loan Term is extended, the new expiration date will be set according to Section V, "Loan Term Extension" (the “Extended Due Date”).

V. LOAN DISBURSEMENT

The Loan will be transferred to the Borrower’s bank account via a bank transfer, subject to the Borrower’s adherence to all terms and conditions outlined in this Agreement. The Borrower’s acceptance of the Loan, or any part of it, confirms their agreement to the terms of the Agreement.

VI. REPAYMENT

The Borrower agrees to repay the Loan, including any applicable fees, charges, and/or interest, in full by the Due Date or Extended Due Date. If the Borrower fails to make payment on time, the Lender may grant a grace period of up to three (3) days. Any payments made after 7:00 PM on the Due Date will be considered as payments for the next business day and will be subject to additional fees.

VII. FEES AND CHARGES

The Borrower is responsible for paying any costs, fees, or charges related to the Loan disbursement, including but not limited to service fees, processing fees, documentary stamp taxes, and legal fees.

VIII. INTEREST

Interest on the Loan will be charged at a rate of 1.5% per month, applied to the outstanding balance.

IX. LATE PAYMENT FEE

If the Borrower fails to make timely payments, they will be charged a late payment fee. This fee is calculated as follows:
Due amount x 8% / 365 * overdue days
Late payment charges will not exceed the outstanding principal and are not compounded. This excludes any fees charged by debt collection agencies, if applicable.

X. BORROWER'S DETAILS

The Borrower must notify the Lender promptly if there are any changes to their contact details, employment, or address. If no update is provided, the Lender will continue to send all notices to the last known address on record.

XI. COMMUNICATION

All communications related to the Loan, including approvals, will be sent to the Borrower’s contact details (email or phone number). The Borrower agrees that the Lender is not responsible for the security or confidentiality of these communications. The Lender may record phone conversations with the Borrower for documentation and legal purposes.

XII. EXEMPTION FROM LIABILITY

The Lender will not be liable for any losses incurred by the Borrower due to delays or refusal to grant the Loan, nor for any losses resulting from revisions to the Loan terms, suspension, or termination of the Loan.

XIII. DISCLOSURE OF INFORMATION

The Borrower consents to the Lender disclosing their personal information as required by law or for any statutory purpose.

XIV. REPRESENTATIONS AND WARRANTIES

The Borrower guarantees that all information provided to the Lender is accurate and complete. The Borrower also confirms they are not involved in any pending legal actions that could affect the Loan.

XV. OTHER TERMS AND CONDITIONS

  • Assignment: The Lender may transfer its rights under these Terms without the Borrower's consent. The Borrower cannot transfer their rights without written consent from the Lender.
     
  • Amendment: The Lender may amend the terms of the Agreement, including the Loan, interest rates, and repayment terms. The Borrower may terminate the Agreement if they do not agree with the changes.
     
  • Waivers: Delays or failures in enforcing rights do not waive those rights unless explicitly stated.
     
  • Partial Invalidity: If any part of these Terms is found invalid, the rest remains in effect.
     
  • Outsourcing: The Lender may outsource debt management and collections to third parties at their discretion.
     
  • Name Change: A change in the Lender's business name does not affect the Terms and Conditions or the Borrower's obligations.
     
  • Acceptance: By agreeing to these Terms and Conditions, the Borrower confirms understanding and acceptance of the provisions, including the Privacy Policy and Personal Data Protection Notice.
     

XVI. GOVERNING LAW AND DISPUTE RESOLUTION

  • Governing Law: These Terms are governed by the Moneylenders Act 1951 of Malaysia.
     

Dispute Resolution: Any disputes will be settled by the Ministry of Local Government Development (KPKT), or, if needed, by the Courts of Malaysia.