Personal Loan | 20 November 2020-31 March 2021
Loan Amount from as low as RM 105 monthly*
Simple application process with just your MyKad
Comes with an early settlement interest-free period of 20 days**
*Based on a loan amount of Ringgit Malaysia Five Hundred (RM500) with a six (6) months tenure at a flat rate of 22.00% p.a.
**Applicable when the facility is settled within twenty (20) days from disbursement. Convenience fee of Ringgit Malaysia Seventy (RM70) is applicable.
Interest/Profit Rate
Our rate is on a flat rate basis, depending on financing amount
Facility Amount |
Flat Interest |
Facility Tenure |
|---|---|---|
RM500 – RM3,000 |
22.00% p.a. |
6 months |
Note: The approved Facility amount will be in multiples of Ringgit Malaysia Five Hundred (RM500) subject to the specified range above.
The effective interest is 38.40% p.a. for six (6) months.
Refer to the Fees and Charges applicable below to Personal Loan.
For more information, you may refer to our Product Disclosure Sheet available here for Personal Loan.
Description/Service |
Charges/Fees* |
|---|---|
Convenience Fee |
Convenience fee of Ringgit Malaysia Seventy (RM70) will be chargeable on the Facility on the final monthly instalment of the Facility. This amount will be deducted evenly across the tenure through the customer’s Grab Wallet. |
Stamp Duty Fee |
0.50% of the disbursed facility amount for every approved facility which is deducted upfront upon disbursement |
Early Settlement |
No charges/fees to be imposed provided 3 months’ written notice is given to the Bank prior to the early settlement. Otherwise, payment of 3 months’ interest on the amount redeemed is applicable. |
*Subject to Government Tax, if applicable
Illustration of Instalments
Assuming your total approved facility amount is RM500 with 6 months loan tenure:
- Malaysian citizens aged between 21 and 60 years old
- Registered as a driver and/or delivery partner with Grab with a minimum annual earning of RM24,000
- Minimum loan amount is RM500
- Maximum loan amount is RM3,000
- Received an invitation to participate in the Campaign from Grab.
