Instant Credit Solution

To consolidate your outstanding credit card debts .
One common reason people take out personal loans is to consolidate their multiple credit card debts. Getting a personal loan to consolidate your credit card payments will not only allow you to combine all your credit card bills into one single payment, it may also work out cheaper for you. Although it may seem counter-intuitive to pay off your debts by taking on more debt, the key factor that makes all the difference here are the interest rates.

One thing to note is that some credit cards offer a 0% balance transfer facility, which allows you to move our credit card debt from one card to another with an interest-free period of around 6–12 months. Most banks use this as an offer to move that balance from one bank’s credit card to another. If you can pay off your credit card debt within this short period, balance transfer loans are a much better option for credit card debt consolidation than taking out a personal loan. While personal loans do remain an option for debt consolidation, bear in mind it shouldn’t be the first one that you turn to.

Similar to any other loan, a personal loan is money that you borrow from the bank that you pay back in fixed monthly payments over a set period of time. The loan period can be as short as 12 months or last up to 10 years, and the interest rates differ accordingly. Unlike car loans and housing loans, personal loans aren’t limited to use for any specific purpose nor tied to any asset for collateral.

Since personal loans can be used for any number of personal reasons that don’t have to be pre-approved by the bank, you may be uncertain about when it’s a good idea to take out that personal loan, and when it would be considered a bad financial decision to get one. Here are a few situations in which getting a personal loan will likely help you out financially.

KUALA LUMPUR (REUTERS) - Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, boosted by expansion in domestic demand and resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the rest of 2022.

Gross domestic product (GDP) in April-June surged 8.9 per cent from a year earlier, the central bank said on Friday (Aug 12). This was faster than the 6.7 per cent growth forecast in a Reuters poll and was up from the 5 per cent annual rise in the previous quarter.

It was also quicker than any annual rate seen since the second quarter of 2021, when GDP was 16.1 per cent higher than a low year-earlier base.

Seasonally adjusted GDP for April-June was up 3.5 per cent on the previous three months, when quarterly growth was 3.8 per cent.

Malaysia’s economy has been on a strong recovery path since the country reopened its borders in April.

“Going forward, the economy is projected to continue to recover in the second half of 2022, albeit at a more moderate pace amid global headwinds,” central bank governor Nor Shamsiah Mohd Yunus told a press conference.

Full-year growth for 2022 would likely be at the upper end of the previously forecast range of 5.3 per cent to 6.3 per cent, Ms Nor Shamsiah said.

Headline and core inflation were expected to average higher in 2022, though Ms Nor Shamsiah said any adjustments to the overnight policy rate would be measured and gradual to avoid stronger measures in the future.

The central bank lifted its benchmark interest rate for the second straight meeting in July.

Capital Economics said in a note it expected Malaysia’s economic growth to slow in coming quarters, as commodity prices dropped back and the boost from border reopening fades.

“That said, the slowdown is likely to be relatively mild, with the reopening of the international border set to provide decent support to activity,” the group’s senior Asia economist, Gareth Leather, said.

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We are dynamic, highly experienced Information Technology solutions and Financial Technology (FinTech) services provider spearheaded by international industry professionals with a significant experience in FinTech and IT. Our main focus in Malaysia is an online consumer financing service that provides access to online cash loans without any collateral requirements, important documents, complex approval procedures, or prolonged time durations. Having introduced reliable microloans & financial services for the financially underserved, we pride ourselves as the pioneer with this 100% online service in Malaysia’s market.

EASI LOAN – FAST & EASY LOAN A rescheduling of repayment up to 5 days is allowable and cost-free with 24 hours notice in advance. But it must within your loan term.