Tips to avoid scam when applying personal loan

Almost everyone knows personal loan is one of the popular choices among Malaysians that are widely used as deposits among home and vehicle buyers. The proof is that we ourselves know through our social media and our acquaintances who use personal finance money to get married, help parents, repair or improve a home or start a business. It has already reached a ‘trend’ level in the context of getting small and fast funding.

But there are plenty agents / officers out there who want to take advantage of those who are desperate for money by making unreasonable deals, scams and so on. On Facebook itself, there are many personal financing advertisements targeted at those who are desperate and want fast money.

rhb personal loan

So, to prevent many people from becoming victims of personal loan fraud, we have tips that you can use when you want to make personal loan and avoid being a victim of fraud.

Do not be fooled by unreasonable offers

In order to attract borrowers, some companies offer ‘attractive’ deals such as interest-free financing or lower-interest financing than the current benefits offered by private finance companies and conventional banks.

Some also offer personal loan to CTOS or CCRIS blacklisted borrowers. For your information, if you are blacklisted by CTOS or CCRIS, no bank or licensed lender will approve your personal loan application.

Make personal loan comparisons in detail

Before making personal loan, we advise you to make a study on the personal loan you would like to apply. It can be done by searching in the internet, asking friends or family members. To get more accurate information, contact the company directly to avoid misunderstand and not get trapped with the sweet promise of the agent / officer. Among the things you need to know is like financing eligibility, interest rates, repayment terms, required documents and funding approval periods.

Please understand and carefully review the loan application process

Once you are satisfied with the amount of funding offered through PDS research, the agent will send your application to a personal financing company for review and through the financing process. There are other charges like processing charges and some agents do not inform this to us, so this is something that you may want to ask and be cautious about before applying for thru agents.

Avoid borrowing from an unregistered agent

Most victims of personal loan fraud are found not to check the status of agents allegedly providing personal loan services. To avoid the same things happening to you, you should check the status of agents from your preferred personal loan company. It is important that the agent who is contacting you for personal loan claims to be the actual agent – not a scammer.

Become a wise lender and user!

As discussed earlier, you are encouraged to inquire about the information you need. Failure to be aware of your rights as a consumer causes irresponsible parties to take advantage of you.

Rookie Guide to Credit Card

Being young and reckless, or old and frail may result in not knowing how to set up your own credit card account. It is exceedingly important that prior research must be conducted before settling on which credit card is best suited to your needs. Evaluation of the current status quo, plenty of research pertaining to own credit cards and enquiring credit card owners should guarantee that you will seal the deal.

It is easy for credit cards to get rejected because you don’t necessarily fit the requirements or you may not be earning a certain amount to be eligible. Nowadays, we can apply credit card online via online services provided by financial institutions. Be sure you read all the term and requirement to check your eligibility.

apply credit card online

Overspending is not the way to go!

Know your wealth, know your budget and know your own ability to spend. Just be aware of all your expenditures and fees. Easiest to put into action is to keep track of a financial record just for your own eyes. Paying your fees after the specified deadline will result in additional late fees.

Deadlines should be reinforced

In order to emblazon a good first and long-lasting impression, paying your bills exactly on time is essential. Maintaining a good impression is certainly strenuous, however, benefits and advantages will be within your sight.

Choose a credit card with low-interest rates

There will certainly be more advantages on your side as you choose a credit card with a lower interest rate. It is vital to choose a credit card with a relatively low-interest rate if you intend to make large purchases and may take a longer time to be able to pay off your debts. If you intend to only make small purchases, interest rates may not be of importance on your side. It truly depends on how you spend!

There will be rewards- redeem while you can

Free hotel vouchers, food deals, shopping deals- some credit cards may provide such incentives. Usually, rewards come by monthly, but depending on your usage, there may be slightly more offers available. Reward cards may come in handy if you are a big spender!

Use the right card

There are plenty of credit card options in the globe- with an extensive variety of choices, uncertainty and doubt arise. In terms of accessibility and feasibility, we would highly recommend RHB’s credit card. Not only are you able to purchase it directly online but it saves a lot of your time! Visit the link via URL https://www.rhbgroup.com/products-and-services/personal/cards/credit-cards.

Summary

In the long run, you will be grateful that you’ve decided to get a credit card! It really makes your life simpler. To have a credit card not really luxury these modern days, it becomes a necessity for us.

RHB Banking Spill The Beans About Its Islamic Banking Offers

As we speak of RHB Group, we know that they are now amongst the 5 best banks in Malaysia. Comprehending the potential of foreign markets with SEA, they’ve expanded their horizons and entered Hong Kong, Laos, Cambodia, Myanmar, Thailand, and several other countries. Feeling the necessity to provide extra value, RHB Bank initiated a policy to offer many different types of financial services to businesses and individuals.

Offline & Online Banking Solutions From RHB

Creation of savings or current account by individuals and enterprises is invariably a necessity. To bring in smart consumers, RHB Bank has offered a highly competitive interest rate account holders can enjoy just by depositing money in their account. As they simply provide traditional transaction facilities through ATM and CDM, the Bank had also launched RHB Now, their online banking services in promoting efficiency.

Credit Card Offers

RHB Bank has been monitoring the trend change in terms of purchase from using cash to without cash and spotted that it triggered an increased demand for credit cards. Based on the information and facts collected across the globe and nationwide, lots more people appear to prefer shopping online by using a credit card every day. Hence, RHB made a suitable move by making it very easy for consumers to apply for credit card online and benefit from a low-interest rate.

RHB Bank understands that it is necessary to lower the visible difference between supply and demand. As a result, they have formulated an amazing credit card plan that offers value that includes cash back rewards that get larger just as more transactions are made by cardholders consistently over time.

Personal Loans

Individuals will commonly require more than credit cards and saving accounts, and RHB recognizes that well. Presently, many have struggled to obtain a loan to buy assets which include homes & cars. For that reason, the Bank proceeded to set-up a financial loan plan that benefits each party at the lowest interest rate for numerous loan types. In addition, individuals might also subscribe to many types of insurance coverage and make a financial investments together with the Bank.

For businessmen and organizational entities, RHB Bank is providing corporate banking facilities. They could engage with the Bank either for investment banking or even to make a business loan. Generally, if the customers are interested, they may even sign up for RHB Bank’s online cash management services.

Business Loans

Small-medium enterprises are one of those who will enjoy the most benefits. They are really welcomed to obtain loans should capital injection is important while they scale their businesses. Not only that, RHB Bank even offers retails solutions to the relevant customers, particularly those in the e-commerce business.

Islamic Banking Solutions

islamic banking

Notwithstanding this, attention on the highly demanded Islamic banking facilities has not been an oversight. RHB Bank is aware that there are a large number of requests from the public to create Syariah-compliant financial instruments. As a result of that, they’ve already set up wealth management, corporate banking, Islamic treasury, unit trust, and various types of other products and services that adhere to the Syariah guideline for the public. Cast a glance over RHB’s islamic banking solutions at https://www.rhbgroup.com/products-and-services/business/islamic.

In A Word

A substantial 24 annual brand value growth happens to have been observed by the Bank in 2016, which places them as amongst the five top domestic banking players. Seeing the long term market growth potential, RHB Bank has equipped itself with more rigorous and efficient tactics to further grow its value and share of the market in the long term.