TERMS OF USE & PERSONAL LOAN AGREEMENT DISCLOSURES

Last Updated: September 2026
Application: AmanahKredit Mobile Application
Provider: AmanahKredit (Licensed Moneylender under the Moneylenders Act 1951 of Malaysia) 

By downloading, installing, accessing, or using the AmanahKredit Mobile Application (the "App") or website (https://amanahkredit.my/), you agree to be bound by these Terms of Use ("Terms"). If you do not agree, do not access or use the App.

  1. ELIGIBILITY
    To apply for a personal loan or create an account, you must:
  • Be a citizen or legal permanent resident of Malaysia.
  • Be at least 18 years of age.
  • Possess a valid MyKad identity card and an active Malaysian bank account registered in your name.
  1. MANDATORY PERSONAL LOAN DISCLOSURES (APPLE GUIDELINE 3.2.1)
    In compliance with Apple App Store Review Guidelines and the Moneylenders Act 1951:
  • Repayment Period:
    • Minimum Repayment Period: 91 days (3 months).
    • Maximum Repayment Period: 180 days (6 months).
    • AmanahKredit does not offer personal loans with a full repayment tenure of less than 60 days.
  • Interest Rates & Maximum APR:
    • Interest Rate: Charged at 1.5% per month (18% per annum) applied to the loan principal balance.
    • Maximum Annual Percentage Rate (APR): 18.00% per annum.
  • Fees & Charges:
    • No Hidden Fees: AmanahKredit charges RM 0.00 for processing, legal fees, stamp duty, or account maintenance. There are no originations, attestations, or service fees charged to the Borrower.
  1. REPRESENTATIVE LOAN COST EXAMPLE
    Below is a representative calculation of the total cost of a loan with zero extra fees:
  • Loan Principal Amount: RM 2,000.00
  • Loan Tenure: 90 days (3 months)
  • Monthly Interest Rate: 1.50%
  • Annual Percentage Rate (APR): 18.00%
  • Processing / Stamp Duty / Legal Fees: RM 0.00
  • Total Interest: RM 90.00
  • Total Repayment Amount: RM 2,090.00
  • Monthly Installment Amount: RM 696.67
  • Effective APR: 18.00%
  1. LOAN DISBURSEMENT, REPAYMENT & LATE FEES
  • Disbursement: Loan funds are transferred directly to the Borrower's bank account upon execution of the digital Schedule J Money Lending Agreement.
  • Repayment: Payments must be made via supported in-app payment methods on or before the Due Date.
  • Grace Period & Late Payment Charges: A grace period of up to three (3) days may be granted. Late payments will incur a late fee calculated strictly according to Malaysian regulatory formulas: Late Fee = (Due Amount * 8% / 365) * Overdue Days. Late payment charges will not exceed the outstanding principal balance and are not compounded.
  1. COUNTER-OFFER MECHANISM
    AmanahKredit reserves the right to present an alternative loan offer (CounterOfferPrincipal) if a primary loan offer is unaccepted within the specified offer validity period. The decision to accept or reject a counter-offer rests entirely with the Borrower.
  2. ACCOUNT DELETION & LEGAL DATA RETENTION (GUIDELINE 5.1.1)
  • Right to Delete: Users can initiate account deletion at any time directly within the App via Profile -> Settings -> Delete Account.
  • Active Loan Restriction: Account deletion cannot be processed while an active loan or outstanding debt balance remains unpaid.
  • Retention Requirements: Upon account deletion, user access is revoked immediately. However, basic identity and transaction records will be retained in encrypted archives strictly to fulfill statutory obligations under Malaysian money lending regulations.
  1. GOVERNING LAW & JURISDICTION
    These Terms are governed by and construed in accordance with the Moneylenders Act 1951 of Malaysia. Any dispute arising under these Terms shall be submitted to the jurisdiction of the Ministry of Local Government Development (KPKT) or the Courts of Malaysia.